The Editorial Team |

Zimbabwe dollar to be taken out of circulation

Harare, Zimbabwe (Capital Markets in Africa) — Zimbabwe’s government has announced it will officially discard the Zimbabwean dollar, formalizing a multi-currency system introduced in 2009 to help stem inflation and stabilize the economy. The central bank will offer $5 for every 175 quadrillion, or 175,000 trillion, Zimbabwean dollars, Governor John Mangudya said in an e-mailed statement from the capital, Harare. While it marks the official dropping of the currency, transactions in the southern African nation…

Mauritius Market Watch | June 11th 2015: Mauritius equity market continues its uptrend runs, market cap adds MUR 169 million

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity market continued its uptrend runs on Thursday, the SEMDEX index surged by 0.08 percent or 1.52 points to reach 1,978.09 points and the Sem-10 climbed by 0.16 percent or 0.61 points to 376.82 points. The market capitalization was recorded at MUR 219.918 billion, by adding MUR 169 million (against MUR 219.749 billion recorded yesterday) and overall total volume trade recorded at 18.839 million and turnover amounted…

Botswana Market Watch | June 11th 2015: Botswana domestic composite index retracted its upward impetus, market cap loses BWP 103 million

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Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index retracted its upward impetus, by losing 0.93 percent to reduce its year-to-date return by 11.52 percent. However, the foreign composite index gained 0.03 percent to close at 1,570.76 points and year-to-date return is still in the red at -0.43. However, the equity market capitalization fell by BWP 103 million (relative to precious trading sessions’ market cap of BWP 382.152 million) to end the day at BWP 382.049 billion. From the…

Former Nigerian Central Bank Governor Joins Blackstone Africa Fund

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Abuja, Nigeria (Capital Markets in Africa) — Blackstone and Black Rhino, the giant private-equity firm, has revealed on Thursday, the appointment of Lamido Sanusi, Emir of Kano and Former Governor of the Nigerian Central Bank, as Chairman of the Board of Directors. Black Rhino was formed in January 2012 to develop and to invest in transformational infrastructure projects in Sub-Saharan Africa’s power generation and fuel transportation sectors. “We are pleased that Emir Sanusi has agreed…

Moody’s confirms African Bank’s Caa2 global scale deposit ratings; negative outlook

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Johannesburg, South Africa (capital Markets in Africa) — Moody’s Investors Service has today confirmed African Bank Limited’s Caa2 global scale long-term deposit and senior unsecured ratings, and the Caa2.za national scale issuer ratings. The global scale ratings continue to capture the implied losses of 10% that SARB’s restructuring plan will impose on both senior debt and wholesale deposits. Today’s rating action concludes the review for downgrade on African Bank’s ratings, initiated on 12 August 2014….

Botswana Market Watch | June 10th 2015: Botswana domestic composite index kept its upward impetus, by adding 1.16 percent

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Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index kept its upward impetus, by adding 1.16 percent to extend its year-to-date growth by 12.61 percent. However, the foreign composite index remained flat to close at 1,569 points and year-to-date return is still in the red at -0.47. However, the equity market capitalization fell by BWP 110.31 million to end the day at BWP 382.152 billion. From the market activity viewpoint, the market total volume was recorded at 2.730 million…

Cote d’Ivoire Market Watch | June 10th 2015: BRVM equity market cap loses XOF 29 billion and indices plunge

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Abidjan, Cote d’Ivoire (Capital Markets in Africa):- BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Wednesday, lower than the previous day. BRVM 10 index decreased from 277.74 to 274.48 points, a drop of 1.17%. BRVM Composite index lost 0.42% to 273.65 against 274.81 points previously. At the same time, the equity market capitalization fell by XOF 28.64 billion to close at XOF 6,752.47 billion compared with previous trading sessions’ market…

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