Africa Market Update - April 2015
Includes economies of Kenya, Uganda, Tanzania, Rwanda, Ethiopia and Angola
Includes economies of Kenya, Uganda, Tanzania, Rwanda, Ethiopia and Angola
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MARKET UPDATE – AFRICA | March <strong>2015</strong><br />
The country’s<br />
monetary policy<br />
remains tight<br />
with a view to<br />
checking inflation<br />
and keeping the<br />
local currency<br />
(the Birr) stable<br />
against major<br />
currencies.<br />
BUSINESS ENVIRONMENT<br />
phone plays a more central role as<br />
a driver of commerce and economic<br />
growth in <strong>Africa</strong>. A survey conducted<br />
by Nielsen in 2014 indicates that <strong>Africa</strong><br />
posts the highest preference for the<br />
mobile handset as the choice device<br />
for online transactions.<br />
Choice Channel for E-Commerce<br />
Ethiopia Birr vs USD Exchange<br />
Source: Bloomberg, StratLink <strong>Africa</strong><br />
Source: Nielsen 2014, StratLink <strong>Africa</strong><br />
Inflation Trend<br />
Source: Bloomberg, StratLink <strong>Africa</strong><br />
Birr Exhibits Resilience<br />
Despite remaining under immense pressure<br />
from the strengthening greenback, the<br />
Birr has demonstrated marked resilience.<br />
The local unit shed 5.2% year-on-year and<br />
0.1% month-on-month to close March <strong>2015</strong><br />
at 20.4 units to the USA dollar. The local<br />
currency is likely to be drawing its strength<br />
from the USD 1.0 Billion December 2014 Eurobond<br />
proceeds.<br />
24 | StratLink <strong>Africa</strong> Ltd.<br />
www.stratlinkglobal.com
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