• Central banks across Africa weighing interest rates in the next three weeks are poised to lower them, cautious that the opportunity to ease further may dissipate after President Trump formally assumes office.
• The Trump presidency is anticipated to strengthen the dollar further, primarily due to his commitment to significantly raising tariffs on imported goods.
• A new wave of inflation, driven by the strengthening dollar from the Trump effect, would exacerbate the already high inflation rates in many African countries.

Donald Trump’s return to the Whitehouse sent the dollar surging against both G10 and emerging market currencies in a change that has potentially far-reaching macroeconomic repercussions for African nations.

As Trump’s victory became evident, the “Trump Trade” pushed 10-year Treasury yields up by 0.16 per cent to 4.44 per cent. Meanwhile, the dollar index, which measures the dollar’s performance against a basket of major currencies, saw its largest single-day increase since …

• Gabon’s referendum has extended the presidential term to seven years with a two-term limit from the previous five years.
• The referendum represents a crucial first step as the nation seeks a return to civilian rule since Ali Bongo’s ouster in August 2023.
• Gabon’s Interior Minister Hermann Immongault has said that 92 per cent of voters backed the proposed constitution.

Gabon’s Referendum Extends Presidential Term Limit

Voters in Gabon have agreed to extend the country’s presidential term limit to seven years from five years in a referendum on a new constitution. The referendum represents a crucial first step as the nation seeks a return to civilian rule since Ali Bongo’s ouster in August 2023. Bongo had governed Gabon since 2009, taking over the presidency from his father, Omar Bongo, who died after ruling the country for over 55 years.

The referendum also clears the path for military leader Brice …

• Mozambique political unrest has caused losses of nearly $390 million, or 2.2 per cent of the gross domestic product.
• According to S&P Global Ratings, this situation has escalated the already high risks that the government will meet its domestic debt obligations.
• The ongoing post-election unrest continues unabated, and any currency devaluation is likely to exacerbate inflation and risk further destabilization.

Mozambique Political Unrest

Since last month’s disputed elections, deadly protests have rocked Mozambique’s economy. According to S&P Global Ratings, this situation has escalated the already high risks that the government will meet its domestic debt obligations.

The company lowered its assessment of the gas-rich nation’s local currency debt to CCC on 18 October before widespread political unrest shut down large parts of the economy. This situation will squeeze the government’s already tight finances, S&P analyst Leon Bezuidenhout said.

“Unless there’s some type of sharp fiscal adjustment or windfall revenue, they …

• The Policy Guide for the Gig Economy proposes five key interventions, including the establishment of a tripartite forum to set industry standards
• Currently, 1.2 million workers, most of whom operate within the informal sector, are employed in the gig economy.
• It also outlines the steps needed to expand special economic zones to accommodate gig work’s virtual, international nature.

Kenya has developed a policy guide that will structure how the Gig economy works. The “Policy Guide for Digital Economy Progress,” developed in collaboration with the Mastercard Foundation, eMobilis Technology Institute, and Africa Practice, offers a comprehensive roadmap to reform Kenya’s gig economy and create a more equitable and sustainable sector for over one million workers and businesses.

According to the toolkit’s developers, it offers a detailed policy proposal to address the pressing challenges faced by digitally delivering gig workers and promote the sector’s growth and development.

EMobilis Managing Director and Co-founder …

• AMSONS Group granted regulatory go ahead to acquire Bamburi cement.
• The family-owned business has partnered with KCB Investment Bank as its transaction adviser.
• Amson made its initial offer when Bamburi Cement’s shares were trading at Sh45, but the stock has since risen, trading at Sh66 on Thursday afternoon.

Tanzanian business conglomerate AMSONS Group has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100 per cent of Bamburi Cement.

The move coming at a time that Kenya’s Savannah Clinker Limited has already raised its bid for the acquisition of Bamburi Cement, even though its offer already exceeds Tanzania Amsoms’ competing offer.

In a statement, the COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market.

“It is unlikely that the proposed merger will lead to the creation of a dominant position …

• Meg Whitman, the US envoy to Kenya, has resigned with one year left in her term.
• Whitman became the second female American ambassador to Kenya.
• Despite her accomplishments in economic diplomacy, Ambassador Whitman faced sustained criticism of her stance on sensitive issues such as corruption, police brutality, and extrajudicial killings.

Meg Whitman, the US envoy to Kenya, has tendered her resignation with one year left in her term amid criticisms over her handling of human rights issues in the country. This resignation comes a week after Donald Trump returned to the White House and also comes on the back of sustained calls from angry Kenyans for her ouster. In a statement to newsrooms, Whitman indicated that she had already submitted her resignation to President Joe Biden.

“Today, I announced to my team at the US embassy that I submitted my resignation to President Biden,” the statement read in part. “It …