The Editorial Team |

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

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…

Ghana Market Watch | June 10th 2015: Ghana equity markets indices and market capitalization nose-dive today

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Accra, Ghana (Capital Markets in Africa):- Ghana equity markets indices and market capitalization nose-dive at the end of today’s trading session. The benchmark composite index dropped 5.73 points (about 0.24 percent) to end the day at 2,380.78, bringing the year- to- date return to 5.30 percent. Equally, the financial Index plunged by 9,59 points or 0.39 percent to 2,430.31 with a year-to-date return of 8.32 percent. Alike, the market capitalization went down nearly GHS 206.23 million (-0.32 percent relative to yesterday market…

Mauritius Market Watch | June 10th 2015: Mauritius equity market extends bullish run, market cap adds MUR 25 million

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity market extended it bullish runs at end of today’s trading session, the SEMDEX index went up by 0.01 percent to reach 1,976.37 points and the Sem-10 rose by 0.16 percent to 376.21 points. The market capitalization was recorded at MUR 219.749 billion (against MUR 219.724 billion recorded yesterday) and overall total volume trade recorded at 17.785 million and turnover amounted to MUR 60.727 million. SBM Holdings…

Stanbic IBTC Will Raise N20b Via Rights Issue

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Lagos, Nigeria (Capital Markets in Africa) — Stanbic IBTC has announced it has obtained approval to commence rights issue. They will be offering 800,000,000 Ordinary Shares of 50 kobo each at N25.50 per share. The basis for allotment of the rights will be 2 new ordinary shares for every 25 ordinary shares held. The Qualification Date for this Right Issue is today, 10 June 2015. Stanbic IBTC only recently celebrated the listing of its N15.4illion…

Morocco Market Watch | June 10th 2015: Blood shedding on the Morocco equity market street marginally reduced today, indices down but market cap gains MAD 155 million.

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Casablanca, Morocco (Capital Markets in Africa):- Blood shedding on the Morocco equity market street marginally reduced today. Morocco’s benchmark stock index (MASI Index) plunged by 0.03 percent to close at 9,593.00 points (with a year-to-date performance to -0.28 percent) with total market capitalization at MAD 487.305 (added MAD 155 million compared to previous trading sessions market capitalization of MAD 487.150 billion) and market activities measured as total traded value was recorded at MAD 58.849 million…

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