Tag: Ridle Markus

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

Global ratings S&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.

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

Mozambique’s headline inflation remained unchanged at 2.8 per cent year on year in August and S&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.

Fitch downgrades Angola’s rating to CCC

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.

Absa’s economic outlook for Zambia

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.

Zambian president fires central bank governor

Global ratings agency S&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.

COVID-19: Nigeria Q2 unemployment rate at 27.1%

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.

COVID-19: IMF approves second RFI loan to Gabon

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.

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

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.
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