Ecobank Group Research Reveals Three Key Emerging Trends for Africa

The 2017 version of Ecobank Research’s Fixed Income, Currency and Commodities (FICC) Guidebook, which provides expert knowledge and analysis on African markets for investors and businesses, was launched today at AfricaFICC.

EcoBank
EcoBank

A press statement issued Thursday by the APO Group for Ecobank and copied to West African Journal Magazine says, indicating a positive outlook for the continent, three key trends are forecast to take hold during the next 12 months. and include economic rebound in sub-Saharan Africa driven by a recovery in the region’s economic heavyweights, Nigeria and South Africa, and ongoing growth in the top performers, Ethiopia, Côte d’Ivoire and (more recently) Ghana.

  • Growth will be driven by a rise in oil production (notably in Ghana, Republic of Congo, Nigeria and Angola), strengthening infrastructure investment across West and East Africa, and improved weather conditions which bode well for crops.
  • Strengthening economic activity, plus a moderate improvement in oil and mineral prices, will help narrow the current account deficit, but pressure on SSA currencies will remain.
Oil Drilling
Oil Drilling

The second emerging trend points to West Africa’s gas sector becoming a hive of activity in 2018 from Senegal to Angola, with the development of gas pipelines, floating liquefied natural gas (FLNG) platforms and major gas field projects.

  • Governments in the Gulf of Guinea and across West Africa have ramped up efforts to secure gas supply in order to boost domestic power generation and diversify their revenues away from crude oil.
  • Deregulating the gas market and allowing market-driven gas prices will be key to unlocking further gas infrastructure investment across the region.
Africa mobile users
Mobile Phone Users

The third trend suggests Fintech innovation in Africa picking up speed in 2018  buoyed by a new generation of Africans who are ‘digital natives’. The proliferation of tech hubs across Africa (notably in South Africa, Kenya, Rwanda, Nigeria, Ghana and Côte d’Ivoire) will nurture the next wave of African start-ups and help connect them with investors, the release said.

  • Digital innovation in SSA is being driven by the explosion in mobile phone usage, enabling African consumers to leapfrog existing business models and technologies.
  • African Fintech firms are increasingly driving this innovation, deploying digital tools to build credit profiles for the previously ‘unbankable’, providing electricity to rural households that were previously off the grid, even using artificial intelligence to diagnose health problems remotely.

Incorporated in Lomé, Togo, in 1988 Ecobank Transnational Incorporated (‘ETI’) the parent company of Ecobank is the leading independent pan-African banking group. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group employs over 20,000 people in 40 different countries in over 1,200 branches and offices.

Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.

 

 

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West African Journal Magazine

The West African Journal was a major magazine publication in the United States with a focus on the Mano River region and West Africa sub-region during the civil crises in Liberia and neighboring countries during the decades of the 1990s. This was the period when many citizens and others in the sub-region were fleeing their homeland due to conflicts, and the magazine was a reliable source of information covering developments in the region and in the Diaspora.  However, the magazine suspended publication several years ago but is now back. It is, therefore, delightful that The West African Journal has been reactivated. The print edition of the magazine, to be published monthly and distributed in the United States, West Africa, and other parts of the world, will provide analysis of the major events of the period under review. Due to challenges relating to availability of reading materials in the sub-region, a few hundred copies of every edition of the magazine will be distributed free of charge to libraries and reading rooms at schools and institutions of higher learning in the sub-West Africa sub-region. The Journal covers government/politics, economics/international trade/investment and partnerships, women's issues, showcase of tourism and historic attractions in West Africa in particular, and Africa in general, as well as cover the Diaspora, entrepreneurship, among others. The Journal also taps into growing interest in the Unites States regarding resource-rich Africa as the next frontier for global economic progress amid an increasing global competition for access to the continent’s abundant natural resources. The magazine will regularly cover bilateral and multilateral partnerships between the US/multinational agencies and Africa/individual African countries. More importantly, in considering the danger of Climate Change and Global Warming, The Journal serves as a strong and unrelenting advocate to create international awareness regarding Climate Change, especially how West African countries and the African Continent as a whole are being negatively impacted. Through its environmental coverage, The Journal promotes education and awareness for people to be empowered. Our experienced team of editors, reporters and feature writers are excited to bring the stories that impact politics, finance, economy, arts, health, education, climate change, women and youth issues in Africa today. Contact The West African Journal is registered and published in Washington, D.C., U.S.A. Plans are underway to open a bureau office in Liberia, from which operations in other West African countries will be coordinated. Our journalists, who bring decades of high engagement of news and reportage, include former BBC veteran correspondent Isaac D.E. Bantu, former Daily Observer Features Editor and publisher of the West African Journal Joe S. Kappia, and Pana Press Editor Tepitapia K. Sannah, and respected Photo journalist and editor Gregory Stemn. These experienced and internationally-respected journalists ensure a high standard of professional journalism. Information and inquiries for The West African Journal should be directed to the following: Editor-in-Chief; Email: WestAfricanJournalMagazine@gmail.com Isaac D.E. Bantu: Publishing Partner; Email: WestAfricanJournalMagazine@gmail.com Mailing Address: P.O. Box 55053, Washington, D.C. 20040-5053 USA Thank you. Managing Editor