Southern African Development Community Data

Nigeria’s inflation rate increased by 15.75% (year-on-year) in December 2020, the highest rate recorded in 3 years.

As part of the medium-term plan for the trade of commodities in Ghana, the Ghana Commodity Exchange (GCX) is considering listing on its trading floor the light cocoa bean, which is mostly consumed by domestic processors.

The World Bank has revised Ghana’s 2021 growth rate and forecasted the economy to grow at 1.4 percent this year.

The implementation of the African Continental Free Trade Agreement (AfCFTA) on its own is unlikely to be a driver of rating adjustments for regional sovereigns. It could be credit positive in the longer term if successful trade liberalisation leads to an improved business environment more broadly and stronger economic growth in Africa, says Fitch Ratings.

THE Reserve Bank of Zimbabwe (RBZ) has kept the bank policy and medium term lending rates at 35 and 25 percent, respectively, while maintaining a stranglehold on money supply to entrench prevailing price stability.

Local transfers in the Egyptian pound will remain exempt from all fees and commissions until June 30th 2021, the Central Bank of Egypt (CBE) stated in a December 28th circular.

The Central Bank of Nigeria (CBN) announced on December 24, 2020 that it had withdrawn the licenses of eight payment service providers for inability to meet capital requirements and non-compliance with specifications.

Egypt's central bank left its key interest rates on hold after cutting them three times this year, most recently in November, saying this decision was consistent with achieving its new and lower inflation target for the end of 2022.

The Zimbabwean government on Monday launched the agricultural commodities exchange that will ensure farmers get market determined prices for their commodities.

Fitch Ratings has downgraded Seychelles' Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B' from 'B+', with a Stable Outlook.