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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>


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

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<p>Sub-Saharan African PMI’s released by Markit Economics rose in June although business conditions in the six countries that were surveyed continued to weaken. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


SSA PMI’s rose in June despite COVID-19 shocks

SSA PMI’s rose in June despite COVID-19 shocks, here’s why

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<p>Mauritius released its first quarter GDP numbers today, reporting a 2 per cent year on year contraction in economic activity. The weak performance in the first quarter was driven largely by contractions in agriculture, construction and wholesale and retail trade sectors. Botswana and South Africa also release GDP data this week and joining CNBC Africa for more is Ridle Markus, Africa Strategist at ABSA Corporate and Investment Banking.</p>


Mauritian economy contracts 2% in Q1 on COVID-19 headwinds

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<p>Ratings agency Fitch has revised the outlook on Kenya’s B+ sovereign ratings to negative from stable, while affirming the rating. And the Financial Times reported that Senegal President Macky Sall, in an interview, disclosed that oil and gas projects in the country could be delayed by up to two years due to COVID-19. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Fitch revises Kenya’s B+ rating to negative from stable

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<p>S&#038;P Global Ratings has affirmed Uganda’s foreign and local currency long- and short-term sovereign ratings with stable outlook. And the week ahead if filled with inflation data from Nigeria, Botswana and GDP numbers from Ghana. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


COVID-19: Tracking market movements across the African continent

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<p>Moody’s has changed Botswana’s A2 sovereign ratings from stable to Negative due to the Covid-19 shock to growth and revenue on the economy and its diamond sector. Joining CNBC Africa more is Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking.</p>


COVID-19: Moody’s downgrades Botswana’s A2 sovereign ratings from stable to negative

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<p>Nigeria’s GDP data and MPC announcement  is expected later this week and Moody’s has changed the outlook on Namibia’s sovereign rating to negative from stable as it sites economic and financial pressure on Namibia amid the Covid-19 crisis. Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking joins CNBC Africa for more.</p>


Ridle Markus

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

SSA PMI’s rose in June despite COVID-19 shocks, here’s why

Mauritian economy contracts 2% in Q1 on COVID-19 headwinds

Fitch revises Kenya’s B+ rating to negative from stable

COVID-19: Tracking market movements across the African continent

COVID-19: Moody’s downgrades Botswana’s A2 sovereign ratings from stable to negative

Moody’s changes Namibia’s rating from stable to negative

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Ridle Markus

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

SSA PMI’s rose in June despite COVID-19 shocks, here’s why

Mauritian economy contracts 2% in Q1 on COVID-19 headwinds

Fitch revises Kenya’s B+ rating to negative from stable

COVID-19: Tracking market movements across the African continent

COVID-19: Moody’s downgrades Botswana’s A2 sovereign ratings from stable to negative

Moody’s changes Namibia’s rating from stable to negative

News Tips

Advertise With Us

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