The Editorial Team |

Ghana needs $15 bln over 10 yrs to close infrastructure gap, Says Vice President

Accra, Ghana (Capital Markets in Africa) – Ghana requires some $15 billion over the next decade to plug a gap in its infrastructure, Vice President Kwesi Amissah-Arthur said on Tuesday at a forum of financial sector operators and private entrepreneurs in Dakar. A three-year-old power crisis in the West African nation has hindered economic growth and sapped businesses, prompting thousands of Ghanaians to take to the streets in protest last month. A fiscal crisis is…

Kenya’s central bank raises benchmark rate from 8.5pc to 10pc

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Nairobi, Kenya (Capital Markets in Africa) — Central Bank of Kenya’s Monetary Policy Committee has decided to raise the benchmark lending rate from 8.5 per cent to 10 per cent, the first increase since 2011. The decision, made at a meeting of the MPC called a month earlier than scheduled, is meant to address inflation fears and shore up the battered Kenya shilling better than the CBK’s interventions in the market. A statement signed by…

AfDB with GEF support continues to strengthen resilience to climate change in Africa

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Lagos, Nigeria (Capital Markets in Africa) — The Global Environmental Facility (GEF) approved USD 35 million in funding to improve climate resilience to be channeled through the African Development Bank for programs in Côte d’Ivoire, Chad, Zambia, in addition to one which spans several countries. The announcement was made at the recent 48th session of the GEF Council Meeting during which the largest GEF work program in its 23 years of history – USD 709…

Cote d’Ivoire Market Watch | June 8th 2015: BRVM equity market cap lost XOF 75 billion, indices drop

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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 Monday, lower than the previous day. BRVM 10 index decreased from 278.86 to 274.10 points, a drop of 1.71%. BRVM Composite index lost 1.10% to 270.46 against 273.47 points previously. Likewise, the equity market capitalization lost XOF 74.3 billion to close at XOF 6,673.82 billion compared with previous trading sessions’ market capitalization of XOF 6,748.12 billion….

South African logistics group received ZAR 30 billion loan from the China Development Bank

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Cape Town, South Afric (Capital Markets in Africa) — At the World Economic Forum for Africa Press Conference, the acting CEO of Transnet, Siyabonga Gama, stated the comopany had obtained a loan of ZAR 30 billion (US$ 2 billion) from the China Development Bank to finance the modernization of its aging trains fleet . He added that ZAR 18 billion have already been disbursed to the group by China Development Banke. Also, the duration of the loan is 15 years…

Wealthy Africans boost need for niche financial services

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Johannesburg, South Africa (Capital Markets in Africa) :- UBS Group AG, the Swiss company that says it banks more billionaires than any other, said wealthy Africans are rapidly adding to the ranks of the rich on the continent and this rise has seen them needing more specialised financial services. Key markets on the continent for UBS include Nigeria and South Africa, plus an East African block covering Kenya, Tanzania and Uganda, Martin Emodi, the bank’s…

Morocco Market Watch | June 5th 2015: Moroccan equity market ends the week on bullish mood, adds MAD 180 million today

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Casablanca, Morocco (Capital Markets in Africa):- Morocco equity market ended the week on bullish mood. Morocco’s benchmark stock index (MASI Index) added 0.03 percent to close at 9,736.55 points (increased year-to-date performance to 1.21 percent) with total market capitalization at MAD 494.616 (gained MAD 180 billion compared to previous trading sessions market capitalization of MAD 494.598 billion) and market activities measured as total traded value was recorded at MAD 49.739 million (a reduction of 29 percent…

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