MadCow1:




Correct Guy!


Aluta Continua

bettercreature:
No cause for alarm BREXIT is dead on arrival,scotland is determined to stay in the Eu by fire by force

Stellamariss:
pls guyz which site will I download hollywood movie?

bettercreature:
By then time EUROPE fight back and pull out all their head offices from uk,impose stringent trade deal with UK and make sure pounds are useless,they will end up advertising uk on CNN to attract tourist

bettercreature:
Youtube is the best place! just download firefox and select few add-ons

CaptainEColeJnr:
LOL
None of the above ma'am.
But I'm an "Information seeker"

CaptainEColeJnr:
Brexit will be terrible for Africa’s largest economies

Lily Kuo&Yomi Kazeem

Quartz africaTime to go.(Reuters/Reinhard Krause) Now that the United Kingdom has voted to leave the European Union, African economies—already struggling from slowing demand from China and flat commodity prices—have now been thrown into confusion along with the rest of the world.

“Many emerging market and frontier asset markets will come under pressure,” Razia Khan, chief economist for Africa for Standard Chartered Bank, tells Quartz. “Much will depend on how quickly someΠ sort of financial market stability can be restored.”The UK’s minister for Africa and advocate for leaving, James Duddridge, has promised that relations with the continent would only improve without the burden of the EU, but Africa’s largest economies are still likely to suffer.

SOUTH AFRICA
South Africa’s rand and trade. South Africa’s already battered economy may be the worst affected by Britain’s exit. As it became clear that the UK vote had swung toward leaving, the rand plunged during early morning trading, becoming the worst performing currency after the British pound. As of mid-morning the rand had fallen more than 7%, its steepest single-day decline since the 2008 financial crisis.

Along with their peers on the London Stock Exchange,major South African companies dual-listed in London and Johannesburg are being hammered. South Africa’s close financial ties to the UK could be a problem—British banks’ claims on South African entities account for 178% of South Africa’s foreign currency reserves, according to analysts from UniCredit.Economists also worry that trade between Africa’s most industrialized economy and the UK will suffer. (The UK is the fourth largest destination for exports from the country, accordingto data from Bloomberg.) Economists at the South African university, North-West, have said Brexit could take 0.1 percentage points off the country’s annual economic growth, which already contracted 1.2%in the first quarter of this year.

CaptainEColeJnr:
NIGERIA
Nigeria: bad timing
Britain’s exit from the EU couldn’t have come at a worst time for Nigeria, Africa’s largest economy. At a time when the government is trying to fix an economy on the brink of a recession by removing strict currency controls and also liberalizing oil prices, the immediate effect of Brexit will test the nerves of Nigeria’s economic managers as global markets plummet.


Bilateral trade between Nigeria and the UK,currently valued at £6 billion(about $8.3 billion) and projected to reach £20 billion by 2020, will be disrupted as trade agreements made under the auspices of the EU have to be renegotiated.


“For Nigeria, global risk aversion as well as a softer oil price is likely to mean that new portfolio inflows are slow to materialize,” says Khan. “This may delay the normal functioning of the newly liberalized FX market.


”Data from the National Bureau of Statistics shows that the UK was Nigeria’s largest source of foreign investment in 2015.A slowing British economy and its reverberating effects could signal a drop in investment, trade, and also remittances from the Nigerian diaspora who sent home $21 billion in 2015.Reduced trade and investment from Britain willnot necessarily be plugged by the rest of the EU, say Lagos-based economist Tunji Andrews.

“The EU will be looking to strengthen it’s internal ties, plus there’s cheaper oil from Iran, cheaper labor from China and the eastern block.

There’s really nothing we have as a competitive advantage to them right now.”Brexit is already fueling other independence campaigns. Within hours of the vote, leaders in France and Holland, Italy and Denmark called for their own referendums on leaving the EU. This sentiment is shared in southeast Nigeria as well, where government forces have spent much of the past year quelling violent protests by activists advocating for the secession and establishment of an independent country called Biafra. Having already called for a referendum earlier in the year, pro-Biafra activists may now be further emboldened.

greenpasture:


I disagree with this report although I think your posting was apt.

The report is written from a portfolio managers point of view and it is extremely short term in scope. Brexit means more trade with Africa not less. The UK is going to take a hit of between 50-65 billion on an annual basis. This funding gap has to be replaced. Where? The old Commonwealth sounds like a good place to start. In the past this body was more like a tea party/ photo op but it does have the architecture to be much more. If the UK is no to shutter factories and lower production it must find new markets and strike new trade deals.

Trade deals that are now free of the influence of EU policies and restrictions.

On a personal basis I think Brexit will hurt Britain in the short run. It has to find new trade deals to fill the gap and it won't find them in China. It will want to leverage on its old relationships and the Commonwealth represents a great outlet.

Fund managers think equity and bond investments. They also think grants and concessionary loans. I am talking about investment into the real sector. The real place Africa needs it.

CaptainEColeJnr:
NIGERIA
Nigeria: bad timing
Britain’s exit from the EU couldn’t have come at a worst time for Nigeria, Africa’s largest economy. At a time when the government is trying to fix an economy on the brink of a recession by removing strict currency controls and also liberalizing oil prices, the immediate effect of Brexit will test the nerves of Nigeria’s economic managers as global markets plummet.


Bilateral trade between Nigeria and the UK,currently valued at £6 billion(about $8.3 billion) and projected to reach £20 billion by 2020, will be disrupted as trade agreements made under the auspices of the EU have to be renegotiated.


“For Nigeria, global risk aversion as well as a softer oil price is likely to mean that new portfolio inflows are slow to materialize,” says Khan. “This may delay the normal functioning of the newly liberalized FX market.


”Data from the National Bureau of Statistics shows that the UK was Nigeria’s largest source of foreign investment in 2015.A slowing British economy and its reverberating effects could signal a drop in investment, trade, and also remittances from the Nigerian diaspora who sent home $21 billion in 2015.Reduced trade and investment from Britain willnot necessarily be plugged by the rest of the EU, say Lagos-based economist Tunji Andrews.

“The EU will be looking to strengthen it’s internal ties, plus there’s cheaper oil from Iran, cheaper labor from China and the eastern block.

There’s really nothing we have as a competitive advantage to them right now.”Brexit is already fueling other independence campaigns. Within hours of the vote, leaders in France and Holland, Italy and Denmark called for their own referendums on leaving the EU. This sentiment is shared in southeast Nigeria as well, where government forces have spent much of the past year quelling violent protests by activists advocating for the secession and establishment of an independent country called Biafra. Having already called for a referendum earlier in the year, pro-Biafra activists may now be further emboldened.

bettercreature:
By the time EUROPE fight back and pull out all their head offices from uk,impose stringent trade deal with Uk and make sure pounds are useless,they will end up advertising uk on CNN to attract tourist

publicenemy:
Daivd Cameron is the worst person to hold the position of a Prime Minister in any country.

Cybertext:
If Nigeria should pullout of ECOWAS or AU which country forex will be affected?