Market News
Moody's says tariffs may hit African banks through China slowdown - REUTERS
By Colleen Goko
JOHANNESBURG, May 8 (Reuters) - Banks in sub-Saharan Africa will not be directly impacted by U.S. import tariffs, but "second round effects", including their impact on the macroeconomic outlook and on China, could still bite, credit rating agency Moody's said.
The impact is likely to include higher funding costs and fallout from slower growth in China, which is a big export market for Sub-Saharan African commodity exporters, Moody's said in a recent report on African banks.
