Overview
- Lesson Title: African Stock Markets - This is a report about the African economy.
- Language: Hausa
- Topic: Economics/Politics
- ILR Level: 1+/2
- ACTFL Proficiency: Advanced-Mid, Advanced-Low, Intermediate-High
- This ACTFL rating is an approximation based on the ILR level
- Modality: Reading
- Learning Objective: Maintenance & Improvement
- Subject Area: Language
- Material Type: LLO
- Publication Year: 2009
- ObjectID: T8RHA11
Transcript
| Original | Translation |
|---|---|
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Faduwar maki a kasuwannin hannayen jari na kasashen Afirka ta hana mutum sanin makomarsu A sakamakon dalilai daban daban, an samu faduwar maki sosai a mayan kasuwannin hannayen jari da ke kudu da hamadar Sahara, a shekarar bana. Amma, ba a rasa kasuwar da ta sha bamban da saura ta samu hauhawar maki ba. Bisa halin da ake ciki, manazarta ba su cimma ra'ayi daya ba, da wuya za a iya yin hasashe kan makomar kasuwannin hannyen jari na Afirka ta shekarar 2009. A kasuwar sayar da hannayen jari ta Johannesburg ta kasar Afirka ta Kudu, wadda ta fi girma a nahiyar Afirka, ba a samu maki mai kyau ba cikin shekarar 2008. Zuwa ranar 12 ga watan Disamba, makinta ya kai dubu 21 da wani abu, ya ragu da kashi kimanin 28%, idan aka kwatanta shi da maki na dubu 30 da aka samu a karshen shekarar 2007. A wajen kasuwar Nijeriya kuma, makin ya kusan kai dubu 60 a farkon shekarar 2008, amma ya sauka da kashi 47% zuwa dubu 30 da wabi abu a farkon watan Disamba. A kasar Kenya da ke gabashin Afirka, ita ma ba ta samu wani sakomako mai kyau ba, inda makinta ya ragu da kashi 40% cikin shekarar 2008. Amma, duk da tabarbarewar da ake samu a kasuwannin sauran manyan kasashen Afirka, kasar Ghana da ke yammacin Afirka ta ki bin sahunsu, ta samu hauhawar makin kasuwarta ta hannayen jari da kashi 60% cikin shekarar 2008. Manazarta na ganin cewa, dalilai da yawa sun haddasa faduwar maki a yawancin kasuwannin hannayen jari na kasashen Afirka, wadanda suka hada da sauyin yanayin siyasa, da hauhawar farashin kaya, da saukowar farashin danyen mai, da rikicin hada-hadar kudi da dai makamantansu. Ga misali, a farkon shekarar 2008, kasuwar hannayen jari ta kasar Kenya tana cikin raguwa sakamakon tarzomar zaben da aka samu a karshen shekarar 2007. A kasar Zambia kasuwarta ta taba samun hauhawar, amma sai murna ta koma ciki ganin rasuwar shugaba Mwanawasa ta janyo faduwar maki sosai. Haka kuma, dayan daga cikin abubuwan da ke addabar kasuwannin hannayen jari na kasashen Afirka shi ne, hauhawar farashin kaya da ta shafi makamashi da sauran kayayyakin masarufi, ta sa 'yan Afirka masu hannayen jari suka fara sayar da hannayen jarin da suka rike. A baya ga haka kuma, janye jari daga Afirka da 'yan kasuwan kasashen waje suka yi da raguwar samun kudin da 'yan Afirka ketare suke aika wa gida, su ma sun yi illa ga kasuwannin hannayen jari na kasashen Afirka. Domin kudin da aka samu daga zuba jari da 'yan Afirka ketare ya taba zaman muhimmin dalilin da ya sa kasuwannin hannayen jari na kasashen Afirka suka cira sama. Har wa yau kuma, rikicin hada-hadar kudi da ke addabar tattalin arzikin kasashen duniya shi ma ya kawo matsin lamba ga kasuwannin hannayen jari na Afirka. Ko da ya ke matsin lambar din ba iri na kai tsaye ne ba, amma yana mummunan tasiri domin ya raunana imanin masu zuba jari kan makomar kasuwannin hannayen jari. Ban da wannan kuma, faduwar farashin danyen mai daga dala 150 ganga daya zuwa bai kai dala 40 ba na yanzu, ta kawo hasara sosai ga kasar Nijeriya, wadda ta fi yawan samar da danyen mai a nahiyar Afirka. Haka kuma, ta raunana kasuwar kasar ta hannayen jari sosai. Dangane da makomar kasuwannin hannayen jari na kasashen Afirka, manazarta ba su cimma ra'ayi daya ba tukuna, wasunsu na sa ran cewa, dunkuluwar tattalin arzikin kasashen Afirka gu daya za ta haifar da hauhawar maki a kasuwar hannun jari, yayin da wasu na ganin cewa, da wuya za a gyara halin da ake ciki cikin gajeren lokaci, sakamakon rashin imani da ake wa kasuwar hannun jari. |
African Countries' Stock Markets Are Unpredictable As a result of various factors, there was a substantial decline in the main sub-Saharan stock market indices last year, though at least one market bucked the trend and had a rising index. Researchers disagree about the situation, and it is difficult to make a prediction on the future of the African stock markets in 2009. In South Africa, the Johannesburg Stock Exchange Index, the largest on the African continent, had a bad year in 2008. As of December 12, its index was just over 21,000, a decrease of around 28% in comparison to the 30,000 mark the index reached at the end of 2007. And in the Nigerian market, the index reached nearly 60,000 at the beginning of 2008 but fell 47% to a little over 30,000 at the beginning of December. Nor were there positive results in Kenya in East Africa, where its index declined by 40% in 2008. But despite the stagnation that occurred in the markets of other major African countries, Ghana in West Africa avoided following the pattern and saw a 60% increase in its stock exchange index in 2008. Researchers believe that several factors have caused the decline in a majority of African stock market indices, including changing political circumstances, the increasing cost of goods, the declining price of crude oil, the credit crunch, and so forth. For example, at the beginning of 2008, the Kenyan stock market was in decline as a result of the election riots that took place at the end of 2007. The Zambian market had been rising all along, but then joy turned to sorrow upon the death of President Mwanawasa, which caused the index to plummet. One of the factors causing the stock markets of Africa to suffer is the rising cost of goods related to fuel and other everyday needs, which has caused African stockholders to begin selling their holdings. Moreover, the withdraw of African investments by foreign traders and a decline in the amount of money that Africans abroad send home have also harmed African stock markets. The income obtained from investments and Africans living abroad had always been the primary reason that the stock markets of Africa were on the rise. Furthermore, the credit crunch that is plaguing the global economy has also caused a crisis in Africa’s stock exchanges. Even though this crisis is not of their own doing, it is having a negative impact because it has weakened investors’ faith in the future of the stock exchanges. In addition, the fall in the price of crude oil from 150 dollars a barrel to its current price of less than 40 dollars has caused a serious loss to Nigeria, which provides more crude oil than any other country on the African continent. This has also weakened the country’s stock market a great deal. Regarding the future of Africa’s stock exchanges, researchers are not yet in agreement: on the one hand, some of them predict that the contraction in African countries’ economies will cause the stock market indices to rise, while others believe that it will be difficult to correct the situation in the short term due to a lack of faith in the stock markets. |
Glossary
| Hausa | Meaning |
|---|---|
| sha bambam | to be different or contradictory |
| 'Yan Afrika ketare | (lit: foreign Africans) Africans living abroad |
| cira sama | to hike or rise |
| har wa yau | (lit: to this day) still |
| matsin lamba | (lit: to squeeze) to put pressure on someone or something |
| raunana imanin | (lit: to hurt someone's trust) to discourage |
| murna ta koma ciki | (lit: joy has gone back to/in the stomach) a state of disappointment |
| dunkuluwar | to put together, to merge |
Notes
1. African Economy
Giving an estimate of the African economy in general is difficult to do because there are many countries in Africa and each has a unique economic situation. While some countries have natural resources such as petroleum, others have little or nothing to use to boost their economies. Some believe that what wealth Africa has was acquired before the 1960s when most of its countries gained their independence. Africa is often overlooked or neglected in international markets because it is the poorest continent by UN standards. Africa is characterized by poverty, corruption, and diseases, a view sustained by media reporting. Although no African country is classified as developed, some countries are comparable to developed countries due to their economic resources. North Africa, for example, is almost comparable to Europe; South Africa is considered the wealthiest country in Africa (“African Financial Markets,” 2003). Despite the negative stereotypes, according to African Business Research Limited:
“Unbeknown to people outside the continent, most African countries have undergone a radical restructuring of their economic systems since the early 1990's. The macroeconomic fundamentals of the region are now sound and very encouraging. Real per capita GDP is rising, inflation is low, currency exchange rates are becoming more stable, and corporate profits [and] return on investment are relatively high. [. . .] [T]he continent offers private investors significant opportunities for positive returns.”
African financial markets. (2003). African Business Research Limited. Retrieved May 5, 2009, from http://www.africanfinancialmarkets.com/renaissance.php