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What unification? Naira rates diverge; Kenya defends record-low shilling; Rand retraces after historic IMF accord

Prize from free trade beats COVID handouts One of the first cohesive steps African governments took after the outbreak of COVID-19 earlier this year was

New Naira restrictions fuel unofficial market weakening; Kenyan, Ugandan shilling continue to weaken

Anti-Africa Bias: Does Presumption of Risk Colour Investment Argentina, the world’s most notorious serial defaulter, was able to borrow from international investors with no repayment

Don’t blow Africa’s world trade leadership; Naira unification means more devaluation

Don’t blow Africa’s best chance at world trade leadership The World Trade Organization has never had an African or a woman as its leader. This

CBN Under Pressure to Devalue Naira; Tanzania Gains Low-Middle Income Status

Assessing the economic damage How bad is the economic fallout from COVID for sub-Saharan Africa? The IMF gave its best estimate last week, updating a

ECO currency planning; Naira rates unification; Kenya negative outlook

ECO currency planning resumes after COVID lull Planning for the new West African ECO currency resumed from a lull since the COVID-19 outbreak, with member

Xi’s forgiveness spurs debt relief optimism; Rand in resistance; Flower power for shilling

Xi’s forgiveness spurs debt relief optimism Amidst weaker economic growth projections, Africa’s currencies look largely unscathed as funds from the World Bank and IMF continue

Rally halted in Africa FX; Kenya and Nigeria supported by reserves

Rally halted in African FX as global markets slide African currencies ended weeks of gains in tandem with declines across global markets on concern of

Africa FX recovery as business reopens; “Risk on” Rand strongest since March

Recovery from Kenya to South Africa as businesses reopen A cross-continental easing in restrictions on economic activity – in some cases spurred by protests, such

Climate improves for African currencies

Climate improves for African currencies The slow return to economic activity in major African nations spurred currency gains this week, while aid from the World

Nigeria MPC scope limited; risk-on Rand belies realities; multilateral boost to Kenya

MPC scope limited in face of Nigeria contraction After a week of pressure on the Naira in which the CBN had to inject up to

NDFs show weaker Naira as released Nigerians hunt Dollars

NDFs show weaker Naira as released Nigerians hunt Dollars Five-year non-deliverable forwards are pointing to Naira rates at 570 per dollar, tumbling from 413 to

Recovery for Rand, Shilling amid Ease of Lockdown

Nigerian spenders emerging from lockdown means pressure for Naira Last month we warned of false stability in the Naira as Nigerians on lockdown meant demand

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