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April 25, 2018

Spring meetings: light up Africa!

Today we revert to the recently concluded IMF/World Bank spring meetings. We attended a briefing on “The State of the Africa Region”, with energy the primary focus. In some African countries such as Gabon, Swaziland and Kenya, the pace of electrification has been rapid, with access rates increasing by around 50% over the past decade. However, the household electrification rate in sub-Saharan Africa (SSA) is the lowest globally, at an average of 42%. Excluding South Africa, industrial electricity consumption across SSA is low, reflecting the poor level of industrialization.                                                                                                                    Fossil fuels remain the main source of electricity generation in SSA, accounting for 64% of total energy output. However, hydroelectricity is dominant in some countries such as the Democratic Republic of Congo, Namibia, Zambia and Ethiopia. For South Africa, 82%...

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April 24, 2018

Low FGN spending due to low FGN revenue

The CBN’s latest quarterly Economic Report (for Q4 2017) points to the central challenge for the federal finance ministry. FGN expenditure runs...

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April 23, 2018

Lagos shines bright in Washington

We attended a briefing at the Business Council for International Understanding last week at the IMF/World Bank spring meetings in...

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April 20, 2018

Little change in PFAs’ asset allocation 

The assets under management (AUM) of the Nigerian regulated pension industry increased by 23.7% y/y in February to N7.79trn (US$25.5bn)....

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