Year: 2023

Oil prices traded above $80 per barrel early on Thursday, recovering from market pressures.  The oil market came under further pressure yesterday with sentiment turning increasingly negative.

Morocco’s King Mohammed VI opened the 2023 Africa Investment Forum Market Days on Wednesday with a call for Africans to work together to attract the levels of private investment needed to drive the continent’s inclusive development.

The House of Representatives has commenced its legislative examination of the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), submitted by President Bola Ahmed Tinubu for approval.

The average yield on Nigerian Treasury bills slid 7 basis points (bps) to settle at 14.31% as a bull surface in the secondary market for government short-term borrowing instruments.

The exchange rates weakened across the currency markets on Wednesday as demand for the US dollar accelerated above the total market supply.

The Chartered Institute of Personnel Management (CIPM) says the institute is determined to tackle Human Resources (HR) management quackery to address its fallouts across various sectors of the Nigerian economy.

Foreign investors sold Nigeria’s sovereign US dollar bonds in the international debt market due to a shift in risk sentiment. The market price of Eurobonds rose, though later moderated slightly amidst seesaw buying, and selling activities in the market. 

The Nigerian bonds traded quietly in the secondary market with a bearish tilt that lifted the benchmark yield higher, albeit, marginally amidst weak macroeconomic conditions.

Non-resident holdings of South African domestic government debt are somewhat high, S&P Global said in its African domestic debt report, adding that this exposes the sovereign to shifts in foreign investor sentiment.

Ghana’s 55% debt as a proportion of gross domestic product (GDP) target for 2028 does not appear feasible, S&P Global Ratings said in an African Domestic Debt report.