Dashboard: 31 May 2022
The South African Reserve Bank raised its benchmark repo rate by 50 bps to 4.75% over the month. This is the 4th consecutive hike and the biggest in over six years due to heightened inflationary risk.
Dashboard: 31 May 2022
The South African Reserve Bank raised its benchmark repo rate by 50 bps to 4.75% over the month. This is the 4th consecutive hike and the biggest in over six years due to heightened inflationary risk.
Dashboard: 31 July 2021
The JSE continues to grow steadily in real, local currency terms following its 2020Q1 low. The global emerging market saw a dip over the last month however on the back of a market correction following new regulatory announcements in China.
Dashboard: 31 March 2022
Inflation rates continued their upward trend for all countries considered, with Mauritius and Ghana displaying year-on-year CPI growth well above its longer term (5-year) average. The South African Reserve Bank (SARB) has increased the repo rate by a further 25 bps following a 25 bps increase in January 2022. The recent increase in interest rates is another in a series of increases as the SARB tries to slow inflation in the South African market.
Dashboard: 28 February 2022
The Rand strengthened against all currencies considered over the past month, except for the Zambian Kwacha. The Rand saw a considerable increase relative to the Ghanaian Cedi following a downgrade to Ghana’s credit rating in early 2022.
Dashboard: 31 January 2022
The South African Reserve Bank (SARB) has increased the repo rate by a further 25 bps following a 25 bps increase in November 2021. South African inflation ended last year at the higher end of the SARB’s target range of 3 -6%. The subsequent rate hikes are an effort to return inflation to the mid-point of the target range.
Dashboard: 31 December 2021
The JSE ended the year strong with a real return of 18.8% p.a. in local currency terms. The Zambian, Ghanaian and Mauritian performed even better, returning 39.4%, 32.6% and 20.5% respectively, in real local currency terms. The Nigerian market ended the year disappointingly with a negative real yield of 7.5% in local currency terms.
Dashboard: 30 November 2021
The South African reserve bank has increased the repo rate by 25 basis points to 3.75% p.a. over the last month whilst the JSE ended the month at a record high, posting real returns of 4.8% over the month.
Dashboard: 30 October 2021
Despite some volatility amongst the African markets considered, overall returns have been inspiring over the 12 months.
Dashboard: 30 September 2021
Despite a poor showing by the JSE over the last quarter, All African markets considered outperformed the global emerging market index in local currency terms. The Rand weakened against all currencies considered over the last quarter.
Dashboard: 31 August 2021 The Rand strengthened against all currencies considered over the month except the Zambian Kwacha. The Zambian Kwacha has strengthened significantly over the last 3 months due to stronger copper prices, a formal Extended Credit Facility agreed with the IMF and more recently due to positive investor reaction to its national election.
