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Rising public debt Public debt in Kenya has soared as shown in the graph below. Data from the Central Bank of Kenya showed that the country’s public debt soared by 608 billion shillings in 12 months through December 2016 to...
A novel idea Kenya has recently become the world's first country to sell bonds through mobile phones. The M-Akiba bonds, which translates to “mobile savings” in Swahili, began selling on March 23 with the sale slated to go on for three...
IMF: The naira is overvalued by 20% The Nigerian (NGE) economy is in immediate need of reform and restructuring. With lower oil prices having impacted its fiscal budget, and militant activities having impacted production in the economy, this African (EZA)...
Silver lining in Nigeria’s dark cloud The Nigerian Naira has depreciated by 36% since June 2016. The only silver lining is that the falling naira has generally benefitting banks in Nigeria (NGE). The IMF expects further depreciation in this African...
Nigeria: oil-rich, yet recession-hit The economy of Nigeria (NGE) fell into recession in 2016, its first in over 2 decades, much attributable to:The steep decline in oil prices since mid-2014 which severely affected government revenues for this oil-rich...
Africa’s largest economy, Nigeria, is in the throes of a major multibillion-dollar banking crisis coming exactly 8 years after the country’s last financial sector meltdown in 2009. That crisis saw 40% of the country’s 24 banks become suddenly under-capitalized...
No confidence motion The major reshuffle undertaken by South Africa’s President Jacob Zuma, which included the ouster of finance minister Pravin Gordhan, apart from 19 other changes, has sparked a political turmoil in the country that is quickly turning into...
It’s all downhill for now It’s been a tough week for the South African rand. And the bad times don’t seem to be going away soon. After declining ~7% in the week until March 31, the rand has continued to...
S&P kicks off downgrade Since political turmoil gripped South Africa (EZA) last week, there have been speculations regarding a sovereign credit rating downgrade for the country. Moody’s – which had South Africa on negative watch – was supposed to deliver...
Outlook for Nigeria The International Monetary Fund (IMF), in its report released on March 30, was quite cautious about the economic outlook for Nigeria. It noted that “Stronger macroeconomic policies are urgently needed to rebuild confidence and foster an economic...
IMF report The International Monetary Fund (IMF) published a report on Nigeria on March 30, 2017. In it, the institution noted that the country needs to address two major issues in order to get its economy back on track:Budget...
Domestic bonds a success The international investment community has lapped up Nigerian bonds. The oversubscription of the first issuance this year in February and the tight pricing of the second issuance in March is testimony to the high demand for...

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