The Editorial Team |

Nigerian Naira and Kenyan Shilling overvalued say Renaissance Capital

Johanneburg, South Africa (Capital Markets in Africa) — Renaissance Capital finds the Kenyan shilling to be especially vulnerable but believes the Nigerian naira should weaken more than the shilling. Sub-Sahara African (SSA) currencies have in recent months come under significant pressure. Of eight SSA currencies we analysed, we found the Kenyan shilling to be especially vulnerable (as it is an overvalued currency that depreciated by less than the EUR/$). However, Nigeria’s limited policy space, implies the naira should…

Mauritius Equity Watch | 10 July 2015: Mauritius stock markets end the week in red, give up MUR 461 Mill down

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity markets ended the week on a bearish note after shedding MUR 461 million this week. The Mauritius All Share Index (SEMDEX index) fell by 0.21 percent or 4.15 points to close at 1,960.27 points and the SEM10 index traded at 372.37 levels, after slumped by 0.09 percent or 0.35 points. The market capitalization was recorded at MUR 217.938 billion, after falling by MUR 461 million (relative to MUR…

AfDB approves €16.7 million to improve electricity access in Guinea Bissau’s capital

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Abidjan, Cote d’Ivoire (Capital Markets in Africa) — The African Development Bank (AfDB) Group announced on Wednesday, June 8 the approval of €16.7 million (a €9-million loan and a €7.7-million grant) in financing toward a program which aims to strengthen the electricity distribution network in Guinea Bissau’s capital by rehabilitating the facilities of 31,000 existing subscribers; connecting 10,500 new subscribers; and improving the commercial management and governance of the public utility, the National Electricity and…

South Africa Market Watch | 9 July 2015: South African financials, industrials lead gains on JSE, All Share index up by 242 basis points

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Johannesburg, South Africa (Capital Markets in Africa) —South African equity markets sustained yesterday’s gains today. The Johannesburg Stock Exchange (JSE) All Share added 2.42 percent (or 1,216.60 points) to land at 51,452.36 points. The JSE Top 40 index also grew by 2.67 percent or 1,193.61 points to settle at 45,872.43 points and the Financial sector index advanced by 2.68 percent or 1,156.90 points at 44,323.08 points. Both Industrial sector index and Industrial 25 index surged by 2.57…

Mauritius Equity Watch | 9 July 2015: Mauritius stock indices stay in red district, Market Cap MUR 578 Mill down

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity markets stayed in red district today. The Mauritius All Share Index (SEMDEX index) plunged by 0.26 percent or 5.20 points to settle at 1,964.43 points and the SEM10 index closed at 372.72 levels, after slumped by 0.27 percent or 1.02 points. The market capitalization was recorded at MUR 218.399 billion, by losing MUR 578 million (relative to MUR 218.977 billion recorded at previous trading session). The overall total…

Foreign Portfolio Investors are net sellers on the NSE in May 2015

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Lagos, Nigeria (Capital Markets in Africa) — Foreign Portfolio Investor (FPI) transactions at the Nigerian bourse decreased to N79.77 billion (about US$ 0.41 billion) in May 2015, down 23.26% from April 2015, amid uncertainity in the fiscal policy direction of the new government, resulting from delays in the appointment of key Ministers. Also, the recent currency control policy by the Central Bank of Nigeria to defend the local currency to preserve the foreign reserves. The local…

Ghana Equity Watch | 8 July 2015: Ghana equities stay in red …. GSE composite index slumps by 918bps

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Accra, Ghana (Capital Markets in Africa):- Ghana stock markets continued on the bearish path at the end of today’s trading session. The benchmark composite index slumped by 0.39 points or 9.18 percent to end the day at 2,337.61, its year- to- date performance reduces to 3.39 percent. At the same time, the financial Index fell by 17.24 points or 0.72 percent to trade at 2,369.07 with a year-to-date return of 5.59 percent. The market capitalization was recorded at GHS 64,547.37 million after losing GHS…

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