The Editorial Team |

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

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…

Mauritius Equity Watch | 15 July 2015: Mauritius stocks maintained the bullish momentum … added MUR 360 million

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius stocks maintained the bullish momentum at end of today’s trading session. As a result, the Mauritius All Share Index (SEMDEX index) jumped by 0.17 percent or 3.24 points to settle at 1,951.02 points and the SEM10 index moved to 371.24 points by adding 1.00 points or 0.27 percent. The market capitalization increased by MUR 360 million to settle at MUR 216.909 billion (relative to yesterday’s market capitalization of MUR…

South Africa Market Watch | 14 July 2015: Losses across South African equities market … JSE All Share sheds 70 basis point, but gold miners up by 121 basis points

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Johannesburg, South Africa (Capital Markets in Africa) — All most of the major sectors on the Johannesburg Stock Exchange (JSE) fell, with the exception of gold miners. The JSE All Share 0.70% lower to end at 52109.52 point, by losing 365.38 points. The JSE Top 40 index also lost 0.72 percent or 336.60 points to settle at 46571.30 points and financial sector index fell by 1.30 percent or 592.38 points at 44984.33 points. Both Industrial sector…

Ghana Equity Watch | 14 July 2015: Ghana equity markets indices and market capitalization bearish, US$ 80 million down

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Accra, Ghana (Capital Markets in Africa):- Ghana benchmark composite index slumped by 14.33 points or 0.61 percent to end the day at 2,320.75, its year- to- date performance reduces to 2.64 percent. At the same time, the financial Index tumbled by 20.11 points or 0.85 percent to trade at 2,356.13 with a year-to-date return of 5.01 percent. The market capitalization also dropped by GHS 429 million to close at GHS 64,280.10 million relative to GHS 64,708.90 recorded at previous trading session. From the…

Moody’s Assigns First-Time Ratings to Nigeria’s Sterling Bank

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LAGOS, Nigeria (Capital Markets in Africa) —- Moody’s Investors Service has today assigned first-time ratings to Sterling Bank plc (Sterling): B2/Not Prime Local and Foreign Currency issuer and deposit ratings, which are underpinned by a b3 Baseline Credit Assessment (BCA). The outlook on all ratings is stable. Moody’s also assigned a Counterparty Risk Assessment (CRA) of B1(cr)/Not Prime(cr). Sterling Bank’s b3 BCA reflects (1) solid asset quality metrics and provision coverage; (2) improvements to the…

Mauritius Equity Watch | 14 July 2015: SEDMEX adds 14bps, SEM10 up by 17bps but DEMEX index fall by 18bps

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity markets ended in green today. The Mauritius All Share Index (SEMDEX index) rose by 0.14 percent or 2.73 points to close at 1,947.78 points and the SEM10 index traded at 370.23 levels, after adding 0.17 percent or 0.65 points. The market capitalization was recorded at MUR 216.549 billion. The overall total volume trade was recorded at 10.702 million with total valued traded at MUR 46.008 million. The most active…

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