The Editorial Team

Nigerian currency is overvalued says Africa Economist, John Ashbourne

LONDON (Capital Markets in Africa) — I would say that the currency remains overvalued. Nigeria’s balance of payments position has changed quite radically since the price of oil fell so sharply, and the currency has yet to fully adjust to this. Given low oil prices, relatively high inflation, and generalised dollar strength we would have expected that the naira would have weakened over the course of the second quarter. Indeed, almost every other SSA currency…

Yvonne Mhango, Sub-Saharan Africa Economist

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Yvonne is Renaissance Capital’s Sub-Saharan Africa (SSA) Economist. Prior to joining Renaissance in November 2010, Yvonne headed the SSA (ex. SA) economic research desk at Standard Bank of South Africa. She has worked as an SSA economist for 10 years, producing macroeconomic research and political analysis on several countries in the region, including Angola, the Democratic Republic of Congo, Ghana, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe. Yvonne emerged as the winner of…

Robertson, Charles: Renaissance Capital’s Global Chief Economist

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Charles, a leading emerging markets specialist, is Renaissance Capital’s Global Chief Economist and head of the Firm’s macro-strategy unit. He covers global economic themes and their impact on emerging markets. Over the past decade, the scope of Charles’s work has covered, among other topics: quantifying political risk in emerging markets; how rising retirement ages reflect deep-rooted problems in the West and great opportunities in emerging markets; the revolutionary nature of growth in countries with non-democratic…

Nigerian naira is trading at fair value says Pabina Yinkere

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Lagos, Nigeria (Capital Markets in Nigeria) — Is naira overvalued or undervalued? It depends on which methodology is used; results could point to an overvaluation or undervaluation. Using a relative PPP methodology, the result suggests the currency is trading near its fair value at N199-200/USD and we are somewhat inclined to this conclusion. Practically, it is unlikely to trade around these levels under a floating market arrangement as the market is pricing in economic risks associated…

Mauritius Equity Watch | 17 July 2015: Market cap rose by MUR 35 million … SEMDEX 0.02% down

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Port Louis, Mauritius (Capital Markets in Africa):- The Mauritius All Share Index (SEMDEX index) tumbled by 0.02 percent or 0.32 points to settle at 1,950.52 points but the SEM10 index ended at 371.32 points by adding 0.12 points or 0.03 percent. The market capitalization plummeted by MUR 35 million to settle at MUR 216.853 billion (relative to yesterday’s market capitalization of MUR 216.888). The overall total volume trade was recorded at 8.617 million (a rise when compared…

South Africa Market Watch | 17 July 2015: JSE All Share sheds 37 basis point, but financial up by 23 basis points

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Johannesburg, South Africa (Capital Markets in Africa) —South African equity markets end the week on a bearish mood. The Johannesburg Stock Exchange (JSE) All Share lost 0.24 percent or 125.40 points to settle at 52,723.72 points. The JSE Top 40 index also plummeted by 0.37 percent or 175.71 points to end at 47,052.58 points and the gold sector index decreased by 3.90 percent or 37.97 points at 936.10 points. Both Industrial sector and Industrial 25 indexes declined by 0.02 percent to end at…

Tanzania Equity Watch | 17 July 2015: Tanzania Stock the week bullish … investors gains US$70 million and indices up

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Dar es Salaam, Tanzania (Capital Markets in Africa):- The Dar es Salaam Stock Exchange (DSEI) advanced by 16.30 points or 0.63 percent to close at 2,622.36 points and the Tanzanian domestic Share Index rose by 2.17 points or 0.05 percent to close at 4,563.65 points. Likewise, the industrial & Allied sector index and Commercial Services sector index remained gained 0.01 percent and 2.69 percent respectively. However, Banks, Finance & Investment (BI) sector index fell by 0.21…

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