The Editorial Team |

Nigeria: NSE Plans Initiatives to Maintain Africa’s Investment Destination

The Nigerian Stock Exchange, NSE, has expressed it readiness to introduce initiatives that will help position it as attractive listing and investment destination in Africa. This, according to the NSE Chief Executive, Mr. Oscar Onyema, is in keeping with its unwavering commitment to solidify its leadership position as Africa’s foremost securities exchange. Addressing journalists in a press conference, Onyema said the Exchange will focus on delivering several initiatives in support of its revised strategy within…

Ghana: Bank of Ghana Maintains Policy Rate at 21%

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In line with our expectation, the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) maintained the policy rate at 21%, continuing the tight monetary stance. Inflation for Jan-15 eased for the first time in 16 months by 60bps to 16.4%, weighed down by the declining crude oil price and a relative stability in exchange rate and utility prices. Despite the downward pressure from the low crude oil price and improved inflation expectations, the…

Africa’s Oil & Gas Explorers Must Rethink Capex on Exploration

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JOHANNESBURG, South-Africa, February 17, 2015/ — Oil & gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, according to an analysis on the oil & gas industry in Africa released by PwC . “Oil & gas explorers will be relooking at their budgets and deciding where to allocate their limited capital spend given the substantial decline in the…

Nigeria’s equity positive momentum: 17 Feb 2015

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NSE ASI rises 261bps The Nigerian Equity Market sustained upward momentum today as the All Share Index surged 261 basis points to close at 28,452.60pts while market capitalisation also added N241.6bn to close N9.5tn. Today’s positive performance was an extension of yesterday’s price appreciation in large cap stocks — Dangote Cement (3.6%), GTBank (8.5%) and Nestle (5.0%). Market activity however softened, as volume and value traded declined 2.7% and 50.6% to 500.2m units and N3.5bn…

Nigeria’s inflation rate rose to 8.2 percent

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Faster Growth in Core Index drives Headline Inflation Higher The National Bureau of Statistics (NBS) released Nigeria’s Inflation estimates for January 2015 today (16/02/2015). The NBS estimated that the Headline inflation rose 20bps Year on year (y-o-y) from December 2014 to 8.2% in January 2015. Although the accelerated growth in the Headline Index was in line with the broader market expectation, the actual growth estimated by the NBS was 30bps lower than our forecast –…

Nigeria’s equity gains N47.8bn: 16th Feb 2015

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NSE ASI up 52bps After seven days of consecutive losses on the Nigerian bourse, the All Share Index gained 52bps today to close at 27,728.63bps. Also, market capitalisation added N47.8bn to close at N9.3tn. Today’s gain was as a result of price appreciation in bellwether stocks – Dangote Cement (1.5%), Zenith (3.4%) and GTBank (2.4%). Similarly, market activities measured by volume and value traded advanced today by 1.4% and 0.1% to berth at 513.9m units…

Egypt: Steadfast Reforms Key for Economic Stability, Jobs, Growth

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Following four years of political uncertainty and economic slowdown, Egypt has chosen a path of adjustment and reform which, if followed resolutely, will lead to economic stability and growth, the IMF said in its first comprehensive assessment of the North African nation’s economy since 2010. Speaking to the IMF Survey, IMF Mission Chief for Egypt, Christopher Jarvis, noted that Egypt faces a challenge. On the one hand, it needs to put its fiscal and external accounts…

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