February 24, 2023/Fitch Ratings This is a correction of a rating action commentary published on 14 February 2023. It corrects a reference to a local-currency principal payment that was due on 6 February 2023. The amount should have been Ghanaian cedi billions and not trillions. Fitch Ratings has downgraded Ghana’s Long-Term […]

February 24, 2023/FBNQuest Research The CBN’s monthly economic report for October ’22 shows slight improvements in the federation’s gross receipts. Gross revenue increased by 7% m/m and 8% y/y to NGN1.2trn. However, the gross amount was lower than the pro-rata monthly budget benchmark of NGN1.6trn. The improved revenue outturn was […]

February 24, 2023/CSL Research The manufacturing sector grew modestly by 2.45% in 2022, reflecting the negative impact of CBN’s hawkish rendition, especially in the second half of the year. In fact, the sector contracted by 1.91% in Q3 2022, the first contraction since covid hit in 2020. The manufacturing sector […]