The Editorial Team

World Bank needs about US$135 thousand million in Official Development Assistance

LUANDA, Angola, Capital Markets in Africa — The World Bank (WB) Vice-President for Development Finance Joachim Von Amsberg asked for the support of members of the African Caucus to raise funds to replenish the International Development Association (IDA). In order to finance development in an intelligent fashion, the WB needs to mobilise some US$135 thousand million in Official Development Assistance (ODA). This amount will attract and leverage new public and private investments. “We have a large portfolio,…

The illicit flow of funds moves billions of dollars in Africa — Thabo Mbeki

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LUANDA, Angola, Capital Markets in Africa — The continent of Africa loses over 50 thousand million dollars each year as a result of the illicit flow of funds, Thabo Mbeki (former president of South Africa and now head of the UNECA-AU High-level Panel on Illicit Financials Flows From Africa) told the meeting of the Group of African Governors affiliated with the World Bank and the International Monetary Fund, known as the African Caucus. “Africa faces the…

African Caucus guarantees financial support

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LUANDA, Angola, Capital Markets in Africa — Those taking part in the meeting of the Group of African Ministers of Finance and Governors of African Central Banks, affiliated with the IMF and the World Bank, reaffirmed their support for new funding initiatives. Joseph Tucker of the International Monetary Fund presented the “Luanda Declaration” at the close of the African Caucus, speaking of the ways and means with which the Bretton Woods Institutions (BWIs) can support the…

South Africa Equity Markets | 2 Sep 2015: Johannesburg Stock Exchange rebound, all major indices higher

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Johannesburg, South Africa, Capital Markets in Africa — South African equity markets bounced back to the uptrend, JSE All Share closed 1.47 percent or 713.64 points higher to end at 49,228.77 points and the JSE Top 40 index surged by 719.76 points or 1.67 percent to end at 43,699.53 points. JSE Financial sector index climbed by 1.35 percent or 575.79 points to close at 43,075.91 points. Both Industrial sector index and industrial 25 index advanced by 1.61 percent to close at…

Kenya Equity Markets | 2 Sep 2015: Nairobi equity tradings back to red, investors give up US$82 million

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Nairobi, Kenya, Capital Markets in Africa — Equity trading on the Nairobi Securities Exchange returned back to the negative region. The equity market capitalization ended at KES 2,001 billion after losing KES 8.5 billion (c.US$82 million) or 0.42 percent from the market capitalization of KES 2,101 billion recorded at previous trading session. The Nairobi All Share Index declined by 0.60 points or 0.42 percent to end at 142.52 points and the Nairobi Securities Exchange (NSE20) index sagged…

Nigeria Equity Watch | 2 Sep 2015: Nigerian Market Sinks on Profit Taking … NSE ASI falls 1.2%

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Lagos, Nigeria, Capital Markets in Africa — The Nigerian All Share Index took a negative turn today, down 1.2% to close at 29,870.86pts after a 4-day rally. The decline in the broader index was consequent on losses recorded in sector bellwethers — GUARANTY (-3.4%), NIGERIAN BREWERIES (- 1.7%) and OANDO (-5.0%). Similarly, market activities measured by volume and value of shares traded waned 53.1% to 439.7m units and 39.4% to N4.5tn respectively. After posting gains…

Tanzania Equity Markets | 2 Sep 2015 : Bear continues the supremacy, investors lose US$27 million

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Dar es Salaam, Tanzania Capital Markets in Africa — The bear runs continued to torment equity trading at the Dar es Salaam Stock Exchange at the end of Wednesday’s trading session. The equity market capitalization further fell by TZS 58 billion (about US$27 million) to end at TZS 21,558 billion relative to market capitalization of TZS 21,616 billion recorded at previous trading session. Dar es Salaam Stock Exchange index (DSEI) sagged by 6.84 points or 0.28…

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