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<p>This week Zambia&#8217;s headline inflation rose to 23.2 per cent in May, higher than projected. While Tanzania is taking on more debt as the World Bank has announced that it has approved the financing of three projects in Tanzania totalling $875 million. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Zambia’s headline inflation rose to 23.2% in May

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<p>The Bank of Botswana’s Monetary Policy Committee held its bank rate unchanged at 3.75 per cent based on the need for sustained support to the economy while in Kenya, Headline inflation eased to 5.8 per cent year on year in April. Joining CNBC Africa for more is Ridle Markus, Africa Strategist at ABSA Corporate and Investment Banking.</p>


Bank of Botswana keeps rates unchanged

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<p>Absa Corporate and Investment Banking is hosting a virtual round table on the outlook on South Africa&#8217;s economy for the second quarter of this year. The bank says recent macroeconomic performance has surprised to the upside, with strong activity indicators, subdued inflation, robust trade surpluses and much better-than-expected tax collections. Now with no sign of the anticipated third wave of Covid-19, the future picture of our economy may be changing. Peter Worthington,  Senior Economist at Absa joins CNBC Africa for more.</p>


South Africa’s economic performance surprises on the upside

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<p>The new president of the Seychelles is expected to be sworn in today, after securing the seat in the country’s Presidential election.</p>


Seychelles opposition candidate wins presidential election

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<p>Protests in Nigeria and Cote d’Ivoire are threatening to once again slow economic activity. In Nigeria, protests against police brutality have been gathering momentum across the country, with mounting fears that it could worsen the already difficult economic situation. The Lagos Chamber of Commerce and Industry noted that the protests are adversely affecting business and could lead to a shutdown of the economy if not properly managed. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

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<p>The G20 led Debt Service Suspension Initiative could be extended by a year amid the COVID-19 crisis and the economic impact that it has had on the world’s poorest countries. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa to unpack the economic data out in the week ahead.</p>


Will the G20 extend its debt relief initiative for low income countries?

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<p>Namibia’s second quarter GDP contracted by 11.1 per cent, this was in line with market expectations despite a surge in activity in its Agriculture sector. A slew of African countries will also release GDP numbers this week with eyes on Kenya, Botswana and Mauritius. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Namibia’s second quarter GDP contracts by 11.1%

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<p>Global ratings S&#038;P has revised Botswana’s outlook to negative from stable due to the higher pressures on Botswana’s economic, external and fiscal performance over the next two years considering the covid-19 crisis and the impact on diamond exports. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


S&P revises Botswana’s outlook to negative from stable

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<p>Mozambique’s headline inflation remained unchanged at 2.8 per cent year on year in August and S&#038;P Global Ratings downgraded Ghana’s long-term foreign and local currency sovereign ratings from B to B- as  the COVID-19 pandemic will exacerbate the country’s fiscal challenges, with government debt increasing to over 70 per cent of GDP in 2020. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


S&P downgrades Ghana’s foreign & local currency to B-

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<p>Ratings agency Fitch has downgraded Angola’s long-term foreign currency issuer with no outlook assigned. The ratings agency sited that the large increase in government debt and reduced external financing as reasons for the downgrade. Angola is among the many African countries that are faced are with a great deal of fear due to the large sums of debt that will be harder to commit to amid the COVID-19 crisis. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Fitch downgrades Angola’s rating to CCC

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<p>In a report of Sub-Saharan Africa’s economy amid COVID-19, it noted that despite a slump in economic activity in the second quarter, there may be a recovery.</p>


Absa’s economic outlook for Zambia

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<p>Global ratings agency S&#038;P has affirmed Zambia’s long- and short-term foreign and local currency sovereign credit ratings with a negative outlook. This news was overshadowed by the surprise move by Zambian President Lungu over the weekend, as he fired the reserve bank governor with immediate effect and no reason. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Zambian president fires central bank governor

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<p>One of the latest results of the COVID-19 impact on Sub-Saharan Africa is Nigeria’s latest second quarter unemployment figures which stands at 27.1 per cent, which is just a few points shy from South Africa’s figure of 30.1 per cent. The week ahead sees a string of MPC data out this week in Namibia, Botswana, Mozambique and Zambia. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


COVID-19: Nigeria Q2 unemployment rate at 27.1%

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<p>Gabon is added to the list of African countries that have received an IMF loan under the Rapid Financing Instrument scheme; this is also the second loan to the country amid the COVID-19 crisis bringing the total loan to $300 million. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


COVID-19: IMF approves second RFI loan to Gabon

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<p>Ahead of Ghana’s MPC rate decision today, the Bank of Ghana’s economic activity indicator has shown a fall of 10.6 per cent in May, whilst consumer and business confidence levels have rebounded amid their sharp declines in April. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


COVID-19: Ghana records 10.6% y/y decline in economic activity in May

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<p>According to an IMF representative of Nigeria, the country’s income is much lower than its peers in Sub-Saharan Africa and other oil exporters.</p>


Nigeria’s central bank retains benchmark lending rate at 12.5%

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<p>Zambia’s Ministry of Mines and Mineral Development reported that copper output rose 3.9 per cent to 342 734 tonnes in the first five months of 2020 despite the closure of mines during the COVID-19 lock-downs. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


absa corporate and investment banking

Zambia’s headline inflation rose to 23.2% in May

Bank of Botswana keeps rates unchanged

South Africa’s economic performance surprises on the upside

Seychelles opposition candidate wins presidential election

Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

Will the G20 extend its debt relief initiative for low income countries?

Namibia’s second quarter GDP contracts by 11.1%

S&P revises Botswana’s outlook to negative from stable

S&P downgrades Ghana’s foreign & local currency to B-

Fitch downgrades Angola’s rating to CCC

Absa’s economic outlook for Zambia

Zambian president fires central bank governor

COVID-19: Nigeria Q2 unemployment rate at 27.1%

COVID-19: IMF approves second RFI loan to Gabon

COVID-19: Ghana records 10.6% y/y decline in economic activity in May

Nigeria’s central bank retains benchmark lending rate at 12.5%

Zambia sees increase in copper output despite COVID-19 mine closures

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absa corporate and investment banking

Zambia’s headline inflation rose to 23.2% in May

Bank of Botswana keeps rates unchanged

South Africa’s economic performance surprises on the upside

Seychelles opposition candidate wins presidential election

Protests in Nigeria & Cote d’Ivoire threaten to slow economic activity

Will the G20 extend its debt relief initiative for low income countries?

Namibia’s second quarter GDP contracts by 11.1%

S&P revises Botswana’s outlook to negative from stable

S&P downgrades Ghana’s foreign & local currency to B-

Fitch downgrades Angola’s rating to CCC

Absa’s economic outlook for Zambia

Zambian president fires central bank governor

COVID-19: Nigeria Q2 unemployment rate at 27.1%

COVID-19: IMF approves second RFI loan to Gabon

COVID-19: Ghana records 10.6% y/y decline in economic activity in May

Nigeria’s central bank retains benchmark lending rate at 12.5%

Zambia sees increase in copper output despite COVID-19 mine closures

News Tips

Advertise With Us

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