The Editorial Team |

Cote D’Ivoire Equity Markets | 3 Sep 2015: BRVM equity markets close lower, Agriculture sectors biggest loser

Abidjan, Cote d’Ivoire, Capital Markets in Africa — BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Thursday, lower than the previous day. BRVM 10 index decreased from 294.79 to 291.73 points, a drop of 1.04 percent. BRVM Composite index lost 0.82 percent to 292.79 against 295.20 points previously. The equity market capitalization plummeted by XOF 59 billion (about US$101 million) to close at XOF 7,225 billion relative to previous trading…

Nigerian Equity Markets | 4 Sep 2015: Cement Stocks Drag Market Performance… NSE ASI down 1.6%

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LAGOS, Nigeria, Capital Markets in Africa — The Nigerian bourse extended the previous day’s loss to today as the All share Index (ASI) fell 1.6% to close 29,393.77pts. Market capitalization also shed 164.1bn to close at 10.1tn. The decline in the ASI is attributable to further depreciations recorded in bellwether stocks such as DANGCEM (-5.0%), WAPCO (-4.0%) and NESTLE (-1.2%). Similarly, market activities measured by volume and value declined 37.8% to 273.7m units and 36.1% to N2.9bn respectively. Sector indices were…

Ghana Equity Markets | 3 Sep 2015: GSE equity markets stay on downtrends …

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Accra, Ghana Capital Markets in Africa — Ghana equity markets maintained the bearish mood for six successive trading session, so the equities market capitalization shred off GHS 44 million (about US$8 million) to close at GHS 62,680 million relative to market capitalization of GHS 62,724 recorded at previous trading session. The benchmark composite index went down by 8.12 points or 0.39 percent to close the day at 2,101.45 points, representing a year-to-date performance 0f -7.06 percent. The financial Index sagged by…

CDC and IFC invest US$24mn in CRDB

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Dar es Salam, Tanzania, Capital Markets in Africa — CDC Group plc (‘CDC’) and the International Finance Corporation (‘IFC’) have invested US$24m to acquire a 5% holding in CRDB Bank plc (‘CRDB’), a provider of financial services in Tanzania. The investment will enable CRDB to continue its growth and further improve access to financial services with the aim of helping to build businesses that create jobs. CRDB recently announced a rights issue which was underwritten…

South Africa’s growth curbed by energy shortages, lower commodity prices and global uncertainty

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JOHANNESBURG, South Africa, Capital Markets in Africa — Electricity shortages, low commodity prices, a severe drought and weaker than expected global growth will constrain South Africa’s economy over the next 18 months and are reflected in the government’s Baa2 rating, stable outlook, Moody’s Investors Service said in a report published September 02 2015. Uncertainty surrounding the Chinese economy and the broader global outlook, as well as the timing of any tightening of US monetary policy,…

Mauritius Equity Markets | 3 Sep 2015 : Stock Exchange of Mauritius equity ends lower, SEM10 index 0.23% drop

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Port Louis, Mauritius, Capital Markets in Africa — Stock Exchange of Mauritius equity market capitalization declined by MUR 1.84 billion (US$ 52 million) to settle at MUR 216.486 million relative to previous market capitalization of MUR 216.597 billion. The Mauritius All Share Index (SEMDEX index) peeled by 0.05 percent or 1.00 points to close at 1,944.00 points and SEM10 index closed at 371.44 points after falling by 0.23 percent or 0.87 points. From the market activity…

African Sovereign Eurobond August 2015 Review: Yield widening due to falling commodity prices

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Lagos, Nigeria, Capital Markets in Africa — A remarkable feature in Fixed Income markets this year has been the widening in African sovereign Eurobond yields. This weakening is in part due to the expected rise in US bond yields and fallen commodity prices (as most African countries are commodities dependent) as well as the anticipated decline in global growth due to China economic downturn. Since January 2015 yields on Zambia’s 2022 and Zambia’s 2024 Eurobond have…

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