African Markets – Factors to Lookout for on June 9
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
African Markets
Tanzania Remove Ban on Agriculture Imports from South Africa, Malawi
Tanzania has lifted a ban on imports of agricultural produce from Malawi and South Africa, it said late on Friday, days after imposing it in retaliation for similar measures imposed by the two southern African nations.
The World Economic Forum agrees that Africa’s digital economy is its future
The 4-day Summit, which has over 60 world leaders and several global economic giants participating, has been discussing issues of global interest, including stimulating economic growth to improve living standards, climate change, emerging technologies, among others.
Ghana has attracted $316 million in foreign direct investment (FDI) in the first three quarters of 2024.
Ghana attracted Foreign Direct Investment (FDI) worth US$316 million during the first three quarters of 2024, reaffirming the country’s growing appeal as a prime investment destination in the sub-region.
An IMF representative warns that the unrest following Mozambique’s elections will negatively impact the country’s economic growth.
Mozambique’s 2024 economic growth is likely to be revised down from a previous forecast of 4.3% due to post-election civil unrest and the impact of Cyclone Chido, a senior International Monetary Fund (IMF) official said.
Cedi trades at GHS15.32 to $1, GHS14.69 on BoG interbank
The Ghanaian Cedi has appreciated further in the buying and selling rates against the United States dollar, rising by 5 pesewas and 3 pesewas respectively, compared to Wednesday
Naira Gains on Official Market to N1,533.49/$, Weakens on Parallel Market to N1,660/$
The naira appreciated slightly to N1,533.49/$ on the official market but fell to N1,660/$ on the parallel market.
Bawumia Unveils MyCreditScore to Enhance Financial Inclusion in Ghana
In a major move to enhance financial inclusion and formalize Ghana’s economy, Vice President Dr. Mahamudu Bawumia has launched the
IMANI: Gold Purchases Insufficient to Address Ghana’s Exchange Rate Challenges
IMANI Africa has raised doubts about the New Patriotic Party’s (NPP) Gold Purchase Programme as a viable solution for stabilizing
Uganda Commits $3 Billion to New Railway System for Enhanced Transport Efficiency
Transport plays a crucial role in global economies, yet in many parts of Africa, particularly Sub-Saharan Africa, it comes at