Africa Finance Corp plans maiden sukuk soon

LAGOS (Capital Markets in Africa) – Africa Finance Corp (AFC), a pan-African multilateral institution based in Nigeria, is likely to make a debut U.S. dollar sukuk issue by early February, banking sources close to the deal said on Wednesday. If AFC makes a final decision to go ahead with the proposed debt sale over coming days, the sukuk will be issued in two or three weeks through a private sale, a banking source familiar with the…

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Too Many Satellites Means Sky-High Margins Under Pressure

Too Many Satellites Means Sky-High Margins Under Pressure

LAGOS, Capital Markets in Africa: Satellite operators are launching more high-powered communications rigs into space, with two more set to join about two-dozen already in orbit by the end of the year, crowding the skies and threatening the industry’s fat profit margins. The new orbiters being launched at a cost of as much as $500 million each are forcing established operators to embark on costly upgrades of their fleets at a time when their business…

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Emerging Assets Trim Weekly Rally After ECB Damps Stimulus Hopes

Emerging Assets Trim Weekly Rally After ECB Damps Stimulus Hopes

LAGOS, Capital Markets in Africa: Emerging-market stocks and currencies trimmed the biggest weekly gain in a month after the European Central Bank refrained from pledging more stimulus and North Korea conducted its biggest-ever nuclear test. The won dropped and the Kospi index suffered its worst retreat for two months after North Korea’s fifth nuclear test. Malaysia’s ringgit and Russia’s ruble fell and stocks in Brazil were poised to open lower as Brent crude slid the most in more than a…

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Devaluation Bets Send Egyptian Stocks Rising to August High

Devaluation Bets Send Egyptian Stocks Rising to August High

CAIRO, Egypt, Capital Market in Africa — Egyptian stocks surged to an eight-month high on speculation that authorities will devalue the currency for the second time this year. Local investors fueled a fifth day of gains as a persistent dollar shortage forced the Egyptian pound to a record low in black market trading. The nation’s decision to weaken its currency by the most in 13 years last month has so far proved insufficient to attract foreign investment…

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Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange witnessed positive return at the end of Monday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went up 1.21 percent to end at 9,409.94 points (with a year-to-date performance to 5.43 percent) with total market capitalization at MAD 471.621 billion (a fall of MAD 4.84 billion or US$28 million relative to previous market capitalization of MAD 466.778). The market activity measured as total…

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Egypt Equity Markets | 09 Mar 2016: Egypt’s bourse benchmark maintains gains, market cap US$192m higher

Egypt Equity Markets | 09 Mar 2016: Egypt’s bourse benchmark maintains gains, market cap US$192m higher

Cairo, Egypt, Capital Markets in Africa — Egypt Exchange equity trading ended in a positive mood for the fifth session in a row at the end of today’s session, the highest level in two months. The equity market capitalization added nearly EGP 1.5 billion (about US$192 million) to end at EGP 402.892 billion relative to the previous market capitalization of EGP 401.359 billion.    The benchmark index EGX30 gained 32.80 points or 0.52 percent to close at 6,372.64…

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Morocco Equity Markets | 31 Dec 2015: Morocco equity investors lose MAD 31bn and All Share index falls 7.22% in 2015 …

Morocco Equity Markets | 31 Dec 2015: Morocco equity investors lose MAD 31bn and All Share index falls 7.22% in 2015 …

Casablanca, Morocco, Capital Markets in Africa —Casablanca Bourse ended Thursday’s trading session; the last trading session of 2015 in a positive region to cushion the overall loses in 2015. The Moroccan benchmark stock index (measured as MASI Index) advanced by 0.64 percent to close at 8,925.71 points (with a year-to-date performance to -7.22 percent) and the equity market capitalization closed 2015 at MAD 453.316 billion (by gaining of MAD 4.62 billion or US$462 million relative to…

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