The Editorial Team |

IDC Zambia and IFC cooperate on fast-track development of two 50 MW Scaling Solar projects

Lusaka, Zambia (Capital Markets in Africa) – International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the Industrial Development Corporation of Zambia to explore development of two 50 MW solar PV independent power projects in Zambia through the Scaling Solar program. The projects would be Zambia’s first utility scale PV projects, providing competitively priced, clean power that would reduce Zambia’s dependence on hydro resources and diversify the…

Ghana Equity Watch | 21 July 2015: Investors lost GHS 58 million and composite index slumped by 15.78 points or 0.69 percent

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Accra, Ghana (Capital Markets in Africa):- Ghana benchmark composite index slumped by 15.78 points or 0.69 percent to end the day at 2,274.62, its year- to- date performance reduces to 0.60 percent. At the same time, the financial Index tumbled by 21.84 points or 0.94 percent to trade at 2,310.03 with a year-to-date return of 2.96 percent. The market capitalization also dropped by GHS 58 million to close at GHS 63,995 million relative to GHS 64,708.90 recorded at previous trading session. From the…

Mauritius Equity Watch | 21 July 2015: Equity markets end in red … SEMDEX 15bps and market cap MUR 327 million falls

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity markets returned to negative region at end of today’s trading session. The Mauritius All Share Index (SEMDEX index) lost 0.15 percent or 2.94 points to close at 1,952.90 points and the SEM10 index closed at 372.68 points by losing 0.58 points or 0.16 percent. In the same note, the market capitalization settled at MUR 217.118 billion (relative to yesterday’s market capitalization of MUR 217.445 billion) by giving away MUR 327…

Nigeria – Will they or won’t they?

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LONDON (Capital Markets in Africa) — In recent weeks, investors in Nigeria have become increasingly perplexed about whether there will be a naira move before the end of 2015. On one hand the NDF market seems to indicate that there will be a move. And the consensus forecast for the value of the naira at the end of 2015 is NGN215:US$1, so in a rare show of unanimity economists seem to agree with the NDF…

South Africa Market Watch | 20 July 2015: JSE higher despite plummeting in gold miners and resource sectors

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Johannesburg, South Africa (Capital Markets in Africa) — Johannesburg Stock Exchange (JSE) started the week on positive momentum. The JSE All Share index increased by 0.50 percent or 264.60 points to close at 52,988.32 levels. The JSE Top 40 index also added 0.71 percent or 336.09 points to end at 47,388.67 points. From the sector viewpoints, financial sector index surged by 0.47 percent or 212.95 points at 45,996.85 points. Both Industrial sector index and industrial 25…

Zambia – AfDB approves US$ 243 million loans for the rehabilitation of Chinsali-Nakonde Road

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Zambia (Capital Markets in Africa) — The Board of Directors of the African Development Bank Group (AfDB) has approved a US $193-million Bank loan and a US$ 50-million loan from Africa Growing Together Fund (AGTF), to support the rehabilitation of the Chinsali-Nakonde road, a section of the North-South Corridor in Zambia, connecting Tanzania. The project aims to improve road transport infrastructure and services as well as reduce transport costs between northern Zambia and southern Tanzania. It…

Moody’s changes Egypt’s banking system outlook to stable

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CAIRO, Egypt (Capital Markets in Africa) — Moody’s Investors Service has today changed the outlook for Egypt’s banking system to stable from negative, reflecting its expectation that banks’ funding and liquidity positions will remain strong amid improving operating conditions over the next 12-18 months. “We expect that Egypt’s banking system will benefit from improved operating conditions, resulting in rising consumer confidence and business investments, which in turn will support loan growth and asset quality”, says…

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