Oxford Economics, the UK-based economic advisory firm, has revealed its plans to acquire a majority stake in NKC Independent Economists for an undisclosed amount.

"The investment by Oxford Economics supports the firm's strategy to strengthen its coverage of emerging markets and to support client demand for reliable analysis and forecasts for Africa's major economies," the advisory firm said.

NKC will be renamed NKC African Economics.

"We will now be backed by Oxford Economics' powerful models and analytical framework," said Noelani King Conradie, NKC Managing Director.

Founded in the Western Cape (South Africa) in 2002, NKC scans the political and macroeconomic conditions of 30 African countries and is able to measure sovereign risk in detail.

Oxford Economics is a key adviser to corporate, financial and government decision-makers and thought leaders.

The firm is one of the world's foremost independent global advisory firms, providing reports, forecasts and analytical tools on 200 countries, 100 industrial sectors and over 3,000 cities.

Its global economic and industry models and analytical tools provide an unparalleled ability to forecast external market trends and assess their economic, social and business impact.