Business

NIGERIA: Group Launches African Economic Data Service

The Exchange Data International (EDI), a provider of global securities data, has announced the launch of its latest service, the African Economic Data Service (AFED), which it termed an unrivalled reference source of macro-economic and financial data for all 54 countries in Africa.
 
A statement from EDI’s Anais Bresle explained that for the first time, the new service provides AFED’s clients and subscribers – anyone who has an interest in Africa, with direct access to a comprehensive suite of Africa centric economic and financial data.
 
Furthermore, it stated that AFED combines EDI‘s 20 years’ experience in data aggregation and delivery with the expertise of analysts specialising in African political and economic sovereign risk.
 
The macroeconomic database currently covers more than 15,000 key economic and financial data indicators captured from 89 multilateral sources.
 
These include investment real GDP by sector, domestic and external debt, grants, consumer prices, employment figures and industry related indicators such as gold and car production.
 
“AFED reports these figures as published by the source leaving clients the choice to adjust if required. AFED is the only database that enables clients to efficiently compare sources on the same indicator; all data collected is normalised and classed into thirteen main groups (e.g. national accounts, inflation, prices, wages, politics, government and society etc).
 
In addition to the macroeconomic data, EDI has also grouped a number of its established datasets under a Capital Market module, providing subscribers with detailed African market data in one dedicated place.
 
This module comprises equity and listed bond prices, credit ratings, fixed income reference data, stock exchange indices, forex and Interest rates.
 
The Chief Executive Officer, EDI, Jonathan Bloch, was quoted to have said: “In recent years, EDI has seen a growing interest in its African coverage of equities and bonds and noticed a gap in the market for a consolidated source of macroeconomic data to support investment decisions.
 
“This project required a lot of in-depth research to ensure the final product not only delivers in terms of coverage but also ease of use.”
 
Continuing, it pointed out that for organisations and individuals already with or seeking an African footprint, and who understand the need for quality information in order to make good decisions, AFED provides direct access to standardised, consolidated, comprehensive, collated and clear  data of both depth and accuracy derived only from trusted, named sources.

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