Botswana Equity Markets: Where do Opportunities Lie

Botswana Equity Markets: Where do Opportunities Lie

GABORONE (Capital Markets in Africa) – The year 2017 is going to be a mixed bag on the Botswana Stock Exchange. The banking sector is likely to grow at a smaller pace mainly due to the tight economic situation mirrored by the low-interest rate environment (Bank rate 5.5%). Impairments are also likely to rise mainly led by the closure of some mines in the country. Already Stanchart and FNBB have issued cautionary statements as they expect an increase in impairments mainly due to…

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INTO AFRICA March 2017 Edition: Africa’s Lions: Trust in Fundamentals

INTO AFRICA March 2017 Edition: Africa’s Lions: Trust in Fundamentals

LAGOS, Nigeria, Capital Markets in Africa: Welcome to March edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. Please download by clicking: INTO AFRICA PUBLICATION: MARCH 2017 EDITION.  Recent years have been challenging for Africa: so is the honeymoon over or did the wedding even take place? The oil price crash has had a serious impact on several African countries; the strength of the dollar is causing financing and FX issues; incidences of terrorism…

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Botswana keeps lending rate unchanged at 5.5%, sees low and stable inflation

Botswana keeps lending rate unchanged at 5.5%, sees low and stable inflation

GABORONE (Capital Markets in Africa) – Botswana’s central bank maintained its benchmark Bank Rate at 5.50 percent and forecast low and stable inflation in the medium term, consistent with the 3-6 percent target range, that augurs well for accommodative monetary policy that can support lending to businesses and households.      Bank Botswana (BB), which cut its rate by 50 basis points in August 2016, also said it aimed for a 0.26 percent upward rate of crawl…

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Botswana gets offer for struggling BCL mines

Botswana gets offer for struggling BCL mines

GABORONE (Capital Markets in Africa) – Botswana’s high court agreed on Tuesday to delay the provisional liquidation of state-owned BCL Mine Ltd after lawyers representing the liquidator KPMG said they had received an offer to buy its mothballed mines, which produce copper and nickel. While the lawyers declined to name the company making the offer, a source close to the process told Reuters a company from the United Arab Emirates had put forward an offer…

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Microlender Plans West African Expansion After Ghana Acquisition

Microlender Plans West African Expansion After Ghana Acquisition

ACCRA (Capital Markets in Africa) – Letshego Holdings Ltd., the Botswana microlender that has made acquisitions in Nigeria and Ghana during the past year, plans to enter Ivory Coast to boost access to West Africa’s francophone market. The lender, which has operations in 11 African countries, is also weighing up an expansion into Zambia and Zimbabwe, Chief Executive Officer Christopher Low said in an interview in Botswana’s capital, Gaborone. Letshego, which had a loan book of $620 million…

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Botswana’s central bank keeps Bank rate unchanged at 5.5 percent

Botswana’s central bank keeps Bank rate unchanged at 5.5 percent

GABORONE (Capital Markets in Africa) – The Bank of Botswana Bank Rate was maintained at 5.5 percent at the Monetary Policy Committee (MPC) meeting held on December 13, 2016. This was in view of the positive outlook for price stability, with inflation forecast to be within the Bank’s 3 – 6 percent medium-term objective range. The Bank stated that the current state of the economy and both the domestic and external economic outlook, including the…

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Botswana | Moody’s affirms Botswana’s A2 government bond rating; outlook stable

Botswana | Moody’s affirms Botswana’s A2 government bond rating; outlook stable

Gaborone, Botswana, Capital Markets in Africa — Moody’s Investors Service (“Moody’s”) has today affirmed Botswana’s A2 long-term issuer and senior unsecured debt ratings. The outlook remains stable. Moody’s analyzed Botswana’s credit profile in the context of the commodity price shock and its impact on the country’s economic and fiscal strength. The affirmation reflects Moody’s view that despite pressure on some of the country’s credit metrics, the challenges that the current external environment poses for the…

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