The Editorial Team

South Africa’s rand softens as dollar rises on robust housing data

Johannesburg, South Africa (Capital Markets in Africa):- South Africa’s rand weakened on Tuesday as the dollar was buoyed by strong U.S. housing data that revived bets of a rate hike in the world’s strongest economy by year-end. At 1502 GMT the rand had eased 0.26 percent to 11.9190 against the dollar, having ambled in the 11.80 region for most of the day before sliding lower as the greenback gained on the positive housing figures. U.S….

Nigerian MPC harmonizes CRR on Banks’ Deposits to 31.0%

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Monetary Policy Committee (MPC) at its 244th meeting decided to harmonize the Cash Reserves Requirement (CRR) on public and private sector deposits to 31.0%. The effect of macroeconomic issues in the global space were considered and analysed with the conclusion that no near term external shock is expected to affect the domestic economy. The growth potential of the domestic economy was reported weak but did not call for a…

Nigeria Market Watch | May 19th 2015: Nigerian equities market reversed its 4-Day uptrend

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities market reversed its 4-Day uptrend as the market slipped 21bps to close at 34,706.93 points. Today’s decline was against the backdrop of losses sustained in NIGERIAN BREWERIES (-1.9%), DANGOTE CEMENT (-0.3%) and WAPCO (-2.1%). Similarly, market capitalization eased N25.3bn to close at N11.8tn. Nevertheless, market activity strengthened as volume and value traded appreciated 16.9% and 39.3% to close at 357.2m units and N4.1bn respectively. Mixed Sector Performance…

Nigeria’s foreign exchange reserves rise by 1 pct by May 15

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Nigeria’s foreign exchange reserves rose marginally by 1.05 percent month-on-month to $29.80 billion by May 15 from $29.49 billion a month earlier, data from the central bank showed on Tuesday. The forex reserves of Africa’s biggest economy and top crude exporter have been on the decline since last year when the central bank used the reserves to support the ailing naira currency, which has depreciated by 7.5 percent so…

South Africa, Kenya, Nigeria Plan More ETF Cross-Listings

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- South Africa, Nigeria and Kenya are planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities, according to the Johannesburg Stock Exchange. “We reached out to East Africa and West Africa,” Tamsin Freemantle, business development manager of the South African bourse, said in an interview May 14 in the Kenyan capital, Nairobi. The JSE is “working closely with those markets to develop this cross…

Zambia’s kwacha firms over 1 pct to month-high vs dollar

Posted on by The Editorial Team

Lusaka, Zambia (Capital Markets in Africa) – Zambia’s kwacha strengthened over one percent to 7.1500 per dollar at 1029 GMT, its firmest level since April 14, buoyed by the return of global demand for copper. Consumption of refined copper in China in the second half of 2015 is likely to rise, with growing demand in the world’s top consumer likely to support global prices. Zambia is Africa’s second-biggest producer of the industrial metal. Source: Reuters Africa…

Foreign direct investment in Africa surges

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Africa is the world’s fastest-growing region for foreign direct investment, according to a report from fDi Intelligence, a data division of the Financial Times group. In a year when the global greenfield FDI market grew a paltry 1%, Africa enjoyed a 65% increase in capital investment in 2014 over the previous year, to an estimated USD 87bn. The number of FDI projects in the continent rose 6%. The FDI…

« 1 … 93 94 95 96 97 … 141 »