January 2020

Overall, yields are uninspiring across the African markets considered, with only Nigeria and Mauritius showing positive real returns over the month.

Over 5 years after factoring in currency depreciation, all the countries considered have underperformed the emerging market index (which is already mediocre). The South African Reserve Bank cut the repo rate by 25 basis points over the last month (from 6.5% to 6.25%) which may stimulate the local market

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Categories: Insights