10 November 2016
Atta Africa Financial Update
Executive summary: African markets hold their breath as votes are counted in the US.
African countries do not escape the volatility experienced by emerging market currencies against the US Dollar. In the build up to the election, the Mexican Peso has proved to be a reliable inverse bell-weather of Donald Trump’s fortunes, as the candidate’s policies pose a significant threat to Mexican trade, and African currencies have broadly followed suit. A Republican victory is broadly predicted to spell losses for African currencies, yet betting markets suggest the probability of a Trump win is low.
Recent news favouring a Clinton presidency have been well received by emerging markets, with the MSCI’s EM benchmark gaining 0.6% today whilst Wall Street rallied 2% overnight, its best performance in 10 months. A “core scenario” of a Clinton win combined to a continued division in Washington would sustain the status quo and promote stability.
Fact: An individual horse has a peak power output of 14.9 horsepower.
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Capria Ventures closed its Accelerator Fund at US$5.2 million |
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Umeme suspends trading as Actis sells 14.3% stake |
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Japan’s JICA agency pledges full support to Ghana grid |
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