...Sector Outlook: Stable While sector outlooks for banking sectors in francophone African countries are mixed, on balance they are fairly stable. Morocco's central bank implements changes in a slow and cautious manner and the banking sector has been stable for many years. We do not expect any major economic or business developments to affect banks in 2019; Morocco's sector outlook is therefore stable. Our sector outlook for Tunisia is negative as we expect the banking sector will continue to be affected by weak economic activity, rising interest rates and tight liquidity in 2019. The slow pace of reform in the Central African Economic and Monetary Community (CEMAC) region holds back development of Cameroon's banks. We expect few changes to the banking sector in 2019; the sector outlook is therefore stable. This is in contrast with faster-paced reforms in the West Africa Economic and Monetary Union (WAEMU) region and this, combined with strong economic growth in Senegal, supports a positive...
