Markets & policy across African economies: debt, FX, inflation & capital flows.
Egypt
Egypt’s USD 4 billion solar-plus-storage deal with Scatec ASA (OSE: SCATC) and EGX: EGAL turns carbon policy into capital strategy. By tying renewables to export-exposed industry, Cairo just built the first replicable blueprint for frontier-market decarbonization.
South Africa
Vunani’s R60 bn merger with Sentio reshapes South Africa’s asset-management landscape. In a market squeezed by fees and regulation, scale becomes survival. The deal tests whether black-owned capital can build a world-class investment platform at home.
Tanzania
Tanzania’s tax authority beats Q1 targets by 6%, collecting USD 3.4 billion and easing debt pressure as peers struggle. With inflation at 3.4%, yields near 9%, and strong digital reforms, Dar es Salaam is turning fiscal credibility into a rare frontier-market advantage.
Frontier Markets
Kenya’s tea output has fallen 11% in 2025, exports are slipping, and prices (USD 2.05/kg) hover near cost as erratic weather, weak demand, and global price shifts strain Africa’s top tea exporter, pressuring the shilling (USD/KES: KES=) and regional supply chains.
Emerging Markets
Japan’s new export curbs on Chinese tech firms may seem distant, but their impact could reach African factories, solar parks, and ports. As supply costs rise and inputs tighten, Africa’s manufacturing dreams face a global test of resilience, strategy, and independence.
Markets
AfDB approves USD 22.8m for Mozambique to raise rice yields from 1t/ha to 4t/ha, lifting incomes to USD 1,000. A test for food security, ESG flows, and sovereign credibility, with investors watching agriculture as a macro risk factor.
Markets
UK–Rwanda trade hit £57m in Q1 2025, up 58%. GDP grew 8.9% in 2024, FDI inflows reached USD 459m, yet Eurobond yields trade near 9%. With LSE firms (HSBA, VOD, LGEN) eyeing Kigali, the new British Chamber could decide if growth becomes true investability.
Markets
Eskom posts ZAR 16bn profit after 8 years, easing pressure on South Africa 2032 Eurobond (7.1%) and USD/ZAR near 18.30. Miners AAL, BHP, GLEN, SBSW gain stability, but CDS at 280 bps and arrears risk keep global investors cautious
Markets
Egypt issues USD 1.5bn dual-tranche sukuk (3.5yr 6.375%, 7yr 7.95%) after USD 9bn+ orders. Pricing inside Eurobond curve, but yields still ~7–8%. Signals diversification, yet risks remain as debt >92% of GDP and EGYPT 2030/2033 trade above 7.5%.
Markets
IMF reviews Togo’s USD 403m ECF as growth hits 5.3% and inflation eases to 2.6%. With USD 129m disbursed, markets eye WAEMU bonds on the BRVM, CFA franc (XOF) stability, and bank tickers ETIT, ORGT, CBI as credibility faces its next test.
Frontier Markets
NIC revenue up 11% to TSh 130.3 bn, assets +12.7% to TSh 422.6 bn, equity +15.9% to TSh 287.9 bn, but net profit slipped to TSh 23.6 bn. Compared with BRIT, JUB, OMU, SLM, global investors ask if Tanzania’s insurance growth is truly sustainable.
Markets
AfDB approves €73.27m for Equatorial Guinea to cut 23.5% youth joblessness, build polytechnics, and back 500 firms. With Brent (ICE: LCOc1) near USD 88 and debt at 42% of GDP, success could shift a petro-state toward inclusive growth.