The Editorial Team |

African Market Watch: Tuesday, 24th March 2015

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day. BRVM 10 index decreased from 269.39 to 268.74pts, a drop of 0.21%. BRVM Composite index lost 0.21% to 263.91 against 264.46pts previously. The equity market capitalization was recorded at XOF 6,512.01 billion. Likewise, the traded value was recorded at XOF 301.086 million and total volumes recorded at 902,438 shares in…

African Market Watch: Monday, 23rd March 2015

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BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, slightly higher than the previous day. BRVM 10 index rose from 269.37 to 269.39 points, a gain of 0.01%. BRVM Composite index gained 0.02% to 264.46 against 264.41 points previously. The equity market capitalization was recorded at XOF 6 525.66 billion. Likewise, the traded value was recorded at XOF 922.082 million and total volumes recorded…

Verod Capital fully exits HFP Engineering and partially exits GZ industries

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Verod Capital has fully exited ownership of HFP Engineering (“HFP”), a Nigerian company based in Lagos. Established in 1979, HFP is a major player in the property development and construction industry in Nigeria. The company developed several landmark projects in Nigeria, including Victoria Garden City, a residential estate with an estimated population of 30,000 inhabitants. In 2008, Verod Capital acquired a 33% stake in HFP, and contributed significantly to developing the business and expanding its…

Mauritius’ budget deficit to widen to 3.2 pct in 2015/2016

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PORT LOUIS (Reuters) – The Mauritius budget deficit for fiscal year 2015/2016 (July-June) is forecast to widen to 3.5 percent of gross domestic product from 3.2 percent in the year 2014 (Jan-Dec), the finance minister said on Monday. In a budget speech to parliament, Finance Minister Seetanah Lutchmeenaraidoo also said the Indian Ocean island’s economy will expand by 5.3 percent in the 2015/2016 fiscal year, above an estimated 3.5 percent expansion in 2014 (Jan-Dec)….

Tanzania’s current account deficit narrows 4.7 pct in year to Jan

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DAR ES SALAAM (Reuters) – Tanzania’s current account deficit narrowed 4.7 percent in the year to January, after exports of manufactured goods and tourism earnings increased, the central bank said on Monday. The deficit narrowed to $4.822 billion in the 12 months to January from $5.059 billion in the same period in 2014, the Bank of Tanzania said in its latest monthly economic report. “The improvement was mainly attributed to an increase in exports…

Zambia to export 800,000 T of white maize to neighbouring states

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LUSAKA (Reuters) – Zambia plans to export 800,000 tonnes of white maize to neighbouring countries after producing its biggest ever harvest, leaving the southern African nation with a large surplus, the agriculture minister said on Monday. Given Lubinda said on Hot FM Radio that Zambia had a surplus of over 1.1 million tonnes of white maize after its harvest rose by a third, to 3.3 million tonnes in the 2013/2014 (October-April) season compared with the…

Mauritius foreign direct investment jumps 48.7 pct in 2014

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PORT LOUIS (Reuters) – Foreign direct investment in Mauritius grew 48.7 percent in 2014 to 14.15 billion rupees ($388.20 million), thanks to investment in real estate, hotels and restaurants, official data showed on Friday. Foreign investment in real estate led with a total of 6.17 billion rupees, the central bank said. Hotels and restaurants accounted for 4.89 billion rupees. France was the biggest source of investment with 3.48 billion rupees. Famed for its white sand…

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