The Editorial Team |

South African metros’ borrowing to rise to fund infrastructure projects

Johannesburg, South Africa (Capital Markets in Africa):- South African metropolitan municipalities’ borrowing is expected to increase over the next three years to help pay for infrastructure spending needed to provide adequate electricity, water, roads and social housing for growing populations, Moody’s Investors Service said in a report published today. The report, entitled “South Africa Metropolitan Municipalities: Borrowing to increase as infrastructure investment needs rise”, is now available on www.moodys.com. Moody’s subscribers can access this report…

Broadly stable outlook for Sub-Saharan African sovereign credit quality

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London (Capital Markets in Africa):- The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s Investors Service in its latest sovereign outlook for the region. However, lower oil and commodity prices, uneven global growth, latent political risk and tighter external financing conditions pose challenges of different magnitudes to the region’s economies. The report, “Sovereign…

Sub-Saharan Africa banking sector has strong regional growth prospects

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London (Capital Markets in Africa):- Sub-Saharan Africa’s fast-expanding banking sector has strong potential to continue its recent growth trend, boosted by robust economies and widening financial inclusion, Moody’s Investors Service said in a report published today. The report, entitled “Banking – Credit Trends in Sub-Saharan Africa”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets…

Moody’s assigns Counterparty Risk Assessments to five Egyptian banks

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Cairo, Egypt (Capital Markets in Africa):- Moody’s Investors Service has today assigned Counterparty Risk Assessments (CR Assessments) to five Egyptian banks. It has assigned CR Assessments of B3(cr) to the government-owned National Bank of Egypt SAE, Banque Du Caire SAE, and Banque Misr SAE; B2(cr) to Commercial International Bank (Egypt) SAE (CIB); and B1(cr) to Bank of Alexandria SAE (Alex Bank). Concurrently Not-Prime (cr) short-term CR Assessments have been assigned to all the banks. This…

Egypt Market Watch | May 19th 2015: Egypt stocks surge as bliss continues on tax cessation

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Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market continued yesterday positive momentum that was spurred by the government’s decision to suspend new capital gain tax implementation for two years. The market capitalisation rose by EGP 1.20 billion compared to yesterday’s gain of EGP 20.3 billion to close at EGP 502.475 billion. The benchmark index EGX30 commenced trading with strong gains that took it above the 9,000 mark. But, retreated to a gain of 0.9% to…

Zimbabwe Market Watch | May 18th 2015: Zimbabwe stock industrial index added 0.16% …

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Harare, Zimbabwe (Capital Markets in Africa):-The Zimbabwe Stock Exchange (ZSE) the industrial index added 0.25 points (0.16%) to settle at 155.09 points. Likewise, the market capitalization was recorded at US$ 4.024 billion by adding US$ 6 million. From the market activity perspective, today’s total volume and turnover was recorded at 11.88 million and US$612,364 respectively exchanging in nine shares via 29 transactions. Foreign investor buys US$357,859.. Out of the nine traded securities, Mashonaland Holdings Limited Zimbabwe contributed nearly…

Egypt central bank raises EGP6.750bn in T-bonds

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Cairo, Egypt (Capital Markets in Africa):-Egypt’s central bank auctioned EGP 6.750 billion in treasury bonds on Monday. The EGP 2 billion T-bond issue was covered 1.06 times at an average yield of 11.9%. Meanwhile, EGP 3 billion worth of T-bonds were covered twice at an average yield of 12.6%. The other EGP 1.750 billion treasury bonds were covered 1.2 times.

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