A mired journey ahead The global demand for oil is holding strong, especially in key markets like China and the U.S. This sets the stage for positive outcomes in the upstream part of the sector, where we could see more revenue and better profits. However, challenges such as weak infrastructure suggest that Nigeria may not...
Supply constraints to fuel CPO price volatility Since late 2022 and Q1 2023, CPO (Crude Palm Oil) prices have been bolstered by heavy rainfall and flooding associated with the La Nina weather phenomenon, which disrupted harvesting and collecting activities across the industry. Another contributing factor was the market expectations of a significant rise in biodiesel...
Food & Beverage drives manufacturing growth The manufacturing sector remains vital to the overall economy, contributing 10.13% to GDP. Apart from Q3’22 where growth was negative at 1.91%, the Nigerian manufacturing sector has shown positive growth in the last two years, growing at a quarterly average of 2.79%. Across specific sub-sectors, this growth was driven...
2022 was a challenging year for the banking sector owing to several factors such as the global economic downturn stemming from the Russia-Ukraine crisis, harsh domestic macroeconomic conditions and Ghanaian debt related impairments. The banking sector generally recorded a growth in their topline majorly on the back of higher interest rate; however, as inflation remained...
Still on track for long term growth In 2022, cement producers recorded weak volumes impacted by energy constraints, particularly with gas supply shortages prevalent in the first half of the year. However, this decline was masked by higher cement prices during the period. Volumes continued to contract further in the first quarter of 2023, impacted...
Delivering growth amidst several headwinds. Across our coverage countries, trends have been similar, and just like we anticipated mobile money and data has been the major growth driver for the industry in Sub-Saharan Africa. Although penetration rates differ, gaps still exist in each of these markets. Telcos have made considerable efforts to cover these gaps...