Tag Archives: uncertainty
uncertainty: Latest News
Global Risk Insights, 4:15 pm
Investors continue buying Nigerian bonds despite economic recession for the first time in 25 years, and urgent calls for reform. In March, high-profile investors competed on the London Stock Exchange for Nigerian debt, a 15-year $1B eurobond issued while President Buhari was being treated in London for an undisclosed illness. S&P affirmed a stable economic outlook. If Buhari leaves office abruptly, the administration’s gains in the fight against Boko Haram could be reversed, an analyst said. The president’s mystery illness is generating uncertainty.
Staff, 4:37 pm
Democratic Republic of Congo has been one of sub-Saharan Africa’s strongest performers in terms of real gross domestic product growth over the past five years, as the economy recovers from a civil war that ended in 2003. But uncertainty over whether the country will hold elections this year has alarmed foreign investors. A slump in global commodities prices hit DRC’s mining industry, which has been forced to scale back production.
Staff, 1:19 pm
The sheep in livestock-rich Ethiopia are well-suited to making gloves for U.K. leather company Pittards. Pittards is a cheerleader for doing business in Africa, operating five factories in Ethiopia employing 1,700 people. “With a weaker pound, we can export more,” Pittards CEO said. Brexit is making U.K. firms think about changing their supply chains. “The uncertainty makes companies look at what else there is. There is opportunity in Africa and retailers should consider it.”
Dana Sanchez, 5:36 pm
U.K.-based SA firm Old Mutual said its trade relationship with Europe may improve, given that the U.K. will have to look outside Europe to do business. Investors should focus on long-term plans, stakeholders said. Market moves of 5 percent or more are scary but common. Long term, they’re small blips that often mean good buying opportunities and bad times to sell. Markets typically overreact to such events and are likely to be volatile while the implications are digested. “This is not a Lehman-like moment.”
- Real Estate