The Editorial Team |

Egypt Market Watch | June 2nd 2015: Egypt’s stock market recovers and market cap gains EGP 3.5 billion.

Cairo, Egypt (Capital Markets in Africa):- Egypt’s stock market recovered at end of Tuesday’s trading sessions, gaining around EGP 3.5 billion to end market capitalization at EGP 499,008 billion, backed by local institutions’ strong buying appetite. The benchmark index EGX30 (which measures the top 30 active stocks) retreated it early slide , closing with a gain of 1.17 percent or 102.55 points to end the day at 8,847.59 points. In the same positive trend, the small and mid-cap index EGX70 surge by…

Nigeria-China Trade Volume Rises to USD 23.5bn

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Lagos, Nigeria (Capita Markets in Africa):- Nigeria’s bilateral trade with the Peoples’ Republic of China has risen to about USD 23.5bn from a mere USD 3.4bn in 2009, according to the Nigeria-China Business Council (NCBC) and reported by ThisDay Live Nigeria. The NCBC told reporters that over the years, it has managed to help nurture bilateral trade relations between Nigeria and China and in the process grow trade between the countries more than five-fold. It…

Tanzania awards $9 bln rail projects to Chinese companies

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DAR ES SALAAM, Tanzania (Capital Markets in Africa) – Tanzania has awarded contracts to build new railway lines worth about $9 billion to Chinese firms, its transport minister said, expanding Beijing’s presence in East Africa’s second-biggest economy. Transport Minister Samuel Sitta told parliament on Saturday a Chinese consortium had been awarded a contract to build a 2,561 km (1,536 miles) standard gauge railway connecting Dar es Salaam port to land-locked neighbours at a cost of…

Egypt Market Watch | May 31st 2015: Egypt equities continue to slide losing EGP 5.4bn

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Cairo, Egypt (Capital Markets in Africa):-Egyptian equity markets slipped today, pressured by a selling tendency among Arab investors. The market capitalization lost EGP 5.4 billion to close at EGP 495.705, compared with EGP 501.110 billion on previous trading sessions. The benchmark index EGX30 declined by 1.45 percent or 129.50 points to end the day at 8,782.55 points (-1.614 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 1.76 percent (or 8.42 points) to settle at…

A new dawn in Nigeria, will Buhari propel a new pathway ……?

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Lagos, Nigeria (Capita Markets in Africa):- Friday 29 May saw the inauguration of Muhammadu Buhari as the new president of Nigeria, following his election victory over Goodluck Jonathan. In his inauguration speech, Buhari set out what will form the core of his administration’s agenda, after first assuring his political opponents that he had no intention of settling old political scores as some had intimated, reiterating that the past would be left in the past. “I…

Egypt, AfDB sign two loans and a grant for Sharm el-Sheikh airport development

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- The African Development Bank (AfDB) and Egypt, on May 29 in Abidjan, signed two loans and a letter of agreement. The two loans are worth US $140 million – US $90 million from the AfDB window and US $50 million loan from the Africa Growing Together Fund (AGTF). The letter of agreement concerned a grant from the Middle Income Countries (MICs) Technical Assistance Fund of UA 1.2 million…

How to ensure Africa’s natural wealth stays in Africa

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- With mineral prices plummeting 60 % from peak highs in 2011, turning Africa’s extractive industries, which include renewable resources, into lasting profits is a primary concern for the continent’s 54 nations. According to Ministers of Trade and Mining as well as experts in the fields, transparency and diversification of economies are the best ways to make sure that happens. “We are in the process of reviewing all mining…

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