Fitch Ratings downgraded the African Export-Import Bank (Afreximbank) from BBB to BBB-, placing it just one notch above “junk” status, with a negative outlook. This move highlights growing concerns about the bank’s loan portfolio quality, risk management practices, and exposure to sovereign debt restructuring in key African economies. The implications could ripple across Africa’s financial […]

South Africa’s economy showed signs of stagnation in the first quarter of 2025, recording only a marginal quarter-on-quarter growth of 0.1%, highlighting the ongoing struggles facing Africa’s most industrialized economy. This slow growth came despite some pockets of strength, particularly in the agriculture sector, which grew robustly. However, contractions in other critical sectors, such as […]

In a clarification, the Federal Government of Nigeria explained that President Bola Tinubu’s recent communication of a US $21.5 billion request to the National Assembly is not an immediate borrowing demand, but rather the formal submission of the 2024 – 2026 External Borrowing Rolling Plan. The plan lays out a multi-year framework for both federal […]

South Africa’s central bank surprised markets on May 29 by unanimously cutting its main repurchase (repo) rate by 25 basis points to 7.25%, even as it signalled a stronger commitment to narrowing its inflation target to 3% from the current 3%–6% range (Reuters). In addition to trimming forecasts for economic growth and consumer prices, the […]