Six months ahead of the next national elections, any previous opposition momentum is drifting, while the governing ANC will seek to delay the president’s reform agenda to avoid any serious political backlash at the polls. With South Africa just about pulling out of recession, this short-minded tactic might just pay off.
Uganda’s highly-anticipated start of commercial oil production will again be delayed, from 2020 to 2021, yet various factors may extend that timeline even further due to disputes between private sector partners, as well as domestic political and security hindrances.
A preliminary agreement on debt restructuring has been reached with Mozambique’s creditors leveraging future gas revenues as collateral, thus paving the way for an urgent recovery of the local economy, which is facing new pressures on its banking sector.
The new government marks its one-year anniversary facing serious obstacles to its economic reform agenda, as well as intensifying political rivalries, which threaten to undermine the prospect of international financing commitments.
Mounting concerns over Africa’s debt sustainability are frustrating key investment decisions and infrastructure financing. In this special report EXX Africa identifies the countries in best and worst position to attract further debt.
Egypt’s economy is firmly on a positive trajectory following two years of structural adjustment, yet non-oil sector growth, low domestic consumption, and high youth unemployment remain key challenges that can offset the progress.
The new government in Angola has made transparency and economic reform its much vaunted manifesto, which is buying it good will among international investors and is boosting its popularity at home. However, central tenets of control over the country’s political economy remain firmly entrenched with the same elite that has dominated Angola for generations.
Following another calamitous month, Zambia’s government needs to urgently commit to deficit reduction through additional taxes and debt restructuring, or face the prospect of a default by early 2019. A Chinese asset-backed bailout is unlikely to be a sustainable solution to the deepening crisis.
While the South African economy is again stuck in a deep recession and measures aimed at fiscal consolidation are stalled, the new administration may have achieved sufficiently firm institutional gains to stave off a third sovereign credit rating downgrade by Moody’s in October.
A booming economy and improved governance are creating fresh opportunities for project finance deals. While the economic and financial outlook is relatively strong, there are emerging concerns over political patronage and contract discrimination under the current administration.
- EXX Africa director Robert Besseling moderated a panel on Africa’s commodity rollercoaster at GTR Commodities in Geneva hosted by Global Trade Review (GTR)
- SOUTH SUDAN: DEBT BURDEN AND CORRUPTION MAY DISSUADE FRESH FOREIGN INVESTMENT
- TUNISIA: MAIN POLITICAL PARTIES SEEK TO MITIGATE IMPACT OF UPSET ELECTORAL DEFEAT
- ZAMBIA: CHINA SEEKS MINING ASSETS AS COLLATERAL TO PROTECT AGAINST LOOMING DEFAULT
- SPECIAL REPORT: SHOCK TO GLOBAL OIL PRICES WILL IMPACT AFRICAN PRODUCERS AND IMPORTERS