#Uganda: After the 225bp hike at the special meeting in October, we expect the @BOU_Official to hold the Central Bank Rate at 12.00% at its upcoming meeting, giving the recent aggressive tightening time to work through the economy. #ThinkAfrica

Our technical framework anticipates bullion to shift to USD4,200/oz, underpinning a sustained #USD/#ZAR depreciation bias toward 16.29. #Markets

The local unit received a terms-of-trade boost after #Brent’s corrective shift also underpinned #gold’s break above the USD4,100/oz mark, peaking at USD4,143/oz this morning. #Markets

The #rand drew a bid in early morning activity, with #USD/#ZAR pulling back from 16.55 to test a break below technical support at 16.4783. #Markets

#USD/#ZAR has gradually weakened towards 16.50 this morning, as deteriorating global risk appetite offsets the softer #dollar. #Markets

🇺🇸/ZAR at 16.52 ⬆️
🇪🇺/ZAR at 18.45 ⬆️
🇬🇧/ZAR at 22.12 ⬆️
🇨🇳/ZAR at 2.47 ⬆️
🛢️Oil at USD96.37 ⬇️
#Markets

#Ethiopia: The country has emerged as Africa’s fifth-largest economy following a rebasing of its national accounts to better capture structural shifts, including the expansion of the digital economy. #ThinkAfrica

#Namibia: Annual #inflation rose to 5.6% y/y in October 2026, up from 5.4% in September and 3.6% a year earlier, while month-on-month inflation accelerated to 0.7% from 0.4%. This was in line with our expectations. #ThinkAfrica

A hawkish repricing in Fed expectations could strengthen the dollar and push #USD/#ZAR towards 16.65. #Markets

We retain our view that the #USD/#ZAR will drift towards 16.29 while it holds below 16.5120, but a stronger-than-expected payroll print is the key upside risk. #Markets

#USD/#ZAR has gradually weakened towards 16.50 this morning, as deteriorating global risk appetite offsets the softer dollar. #Markets

🇺🇸/ZAR at 16.50 ⬆️
🇪🇺/ZAR at 18.45 ⬆️
🇬🇧/ZAR at 22.10 ⬆️
🇨🇳/ZAR at 2.47 ⬆️
🛢️Oil at USD97.57 ⬇️
#Markets

The @WorldBankGroup is encouraging cities across #SubSaharanAfrica to issue more of their own debt to finance critical infrastructure, including roads, water and electricity networks, as rapid population growth increases investment needs. #ThinkAfrica

The @WorldBankGroup estimates that #Kenya could increase #GDP by more than a fifth over the next decade and materially reduce its debt burden by strengthening anti-corruption efforts. #ThinkAfrica

#Ghana's #HeadlineInflation rose to 5.5% y/y in October, up from 5.2% y/y in September, marking the third consecutive monthly increase since July. #ThinkAfrica

The #rand responded with aplomb to global markets’ post-US elections risk-on shift. #USD/#ZAR recorded a steep decline from a pre-election peak of 16.76 to 16.33 this morning. #Markets

🇺🇸/ZAR at 16.35 ⬇️
🇪🇺/ZAR at 18.39 ⬇️
🇬🇧/ZAR at 22.05 ⬇️
🇨🇳/ZAR at 2.45 ⬇️
🛢️Oil at USD95.04 ⬇️
#Markets

#Uganda's #inflation has climbed to its highest level in three years, as a slump in the shilling pushed up import costs. #ThinkAfrica

#Kenya: #Inflation rose to 7.3% y/y in October from 6.8% in September, slightly above our 7.1% forecast. #ThinkAfrica

The #rand started the week on the back foot, holding above 16.70 but off Friday’s 16.73 peak. We anticipate a shift below 16.66 to precipitate a move to 16.54 by tomorrow’s midterms. #Markets