The Editorial Team |

Kenya sells $260 mln of 12-yr infrastructure bond at extended sale

NAIROBI (Reuters) – Kenya’s central bank sold 24.02 billion shillings ($259.96 million) worth of a 12-year infrastructure bond in an extended sale in which it aimed to raise up to 25 billion shillings. The bond was first auctioned on March 25, when its weighted average yield rose slightly to 11.556 percent from 11.263 percent at a previous sale in October. At the extended sale on Wednesday all the bids for the bond were allotted at…

South Africa’s net reserves fall to $41.275 bln in March

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JOHANNESBURG (Reuters) – South Africa’s net gold and foreign exchange reserves fell to $41.275 billion in March from $41.923 billion in February, data from the Reserve Bank showed on Thursday. Gross reserves were also down at $46.437 billion from $47.19 billion and the forward position, which represents the central bank’s unsettled or swap transactions, fell to $2.702 billion from $2.771

Kenyan shilling steady, traders wary of central bank intervention

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NAIROBI (Reuters) – Kenya’s shilling was steady on Thursday, and traders said it was expected to stay in a tight band as market players traded warily anticipating the central bank would sell dollars. At 0805 GMT, commercial banks quoted the shilling at 92.65/85, compared with 92.70/75 at Wednesday’s close. “After the last intervention that happened on Tuesday, the market yesterday was very quiet indeed,” said a senior trader at one commercial bank. The shilling had…

African Market Watch: Wed, 8th April 2015

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BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day for BRVM 10 index, and lower for BRVM Composite. BRVM 10 index rose from 269.02pts to 269.11pts, a gain of 0.03%. BRVM Composite index lost 0.79% to 259.98pts against 262.04pts previously. The equity market capitalization was recorded at XOF 6,415.10 billion. Likewise, the traded value was recorded at XOF 462.256…

Kenya’s tourism industry braces for more misery after Al-Shabaab attack…

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Hoteliers from Kenya’s Indian Ocean coast region and sprawling game park reserves have said tourists have started cancelling trips to the East African nation after gunmen last week killed 148 people at a university campus. A vital part of East Africa’s biggest economy, Kenya’s tourism industry has been in decline since 2013 when al-Shabaab stormed an upscale shopping mall in the capital Nairobi, killing 67 people during a bloody four-day siege. Since then, repeat al-Shabaab…

Benin, Niger finalise terms of Bollore’s 1 bln euro rail link

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NIAMEY (Reuters) – Niger and Benin signed a deal on Tuesday to finalise the terms of the construction and operation of a railway linking Niamey with the port of Cotonou, expected to be finished in the middle of next year.French firm Bollore will cover the entire 1.07 billion euro cost of building the rail link, according to the terms of the deal.”We have created the conditions to guarantee the harmonious, diligent and efficient operation of…

African Market Watch: Tuesday, 7th April 2015

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BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day. BRVM 10 index fell from 269.02pts to 269.20pts, a lost of 0.07%. BRVM Composite index gained 0.23% to 262.04pts against 262.64pts previously. The equity market capitalization was recorded at XOF 6,466.06 billion. Likewise, the traded value was recorded at XOF 915.240 million and total volumes recorded at 223,641 shares in…

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