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.
South Africa
South Africa’s plan to let firms buy BEE status through a 3% levy exposes a deeper dilemma—compliance or creation. As growth slows to 0.9% and JSE yields stagnate, investors weigh whether empowerment will build real enterprise or just another fiscal indulgence.
Ghana
Ghana raises the cocoa farmgate price to GH¢3,625 per bag (≈ USD 3,800 / tonne), boosting farmer income but straining COCOBOD’s GH¢20 bn debt and IMF fiscal targets. With Eurobond yields near 12.6 %, markets question whether policy generosity can stay solvent.
Kenya
Kenya’s current account deficit widens to KSh 83.7 bn (≈ USD 640 m) as exports slump 16% and financing leans on short-term inflows. With debt at 68% of GDP and Eurobond yields near 10%, markets question whether East Africa’s powerhouse can sustain its balance.
Global Markets
Kazuo Ueda faces a defining test as Japan edges toward ending decades of ultra-easy policy. With inflation steady, wages fragile, and the yen sliding (USD/JPY: JPY= 147.7), global markets brace for ripple effects from Tokyo to Johannesburg.
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.
Frontier Markets
Shri Krishana (NSE: SKOP) warns of >25% profit drop after H1 net fell 70% to KSh 2m. Borrowings hit KSh 150m, debt-to-equity 2.1×, interest cover just 1.16×. With Kenya’s 364-day T-bill at 17% and KES near 154/USD, survival hinges on Kisaju plant execution.
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
Rwanda’s first tungsten export to the U.S. marks a symbolic crack in China’s 60% supply dominance. With mining at ~30% of exports (RWF-MINING-EXP), Kigali’s move blends opportunity with risk in global critical-mineral geopolitics.