The Editorial Team |

Nigerian Equity: Week Ending 27th March 2015

The week ending 27th March 2015, heavy transactions in the shares of some banks and insurance companies, especially United Bank for Africa (UBA), Mansard Insurance, lifted the volume of shares traded, as a turnover of 2.509 billion shares worth NGN24.115 billion were exchanged in 19,971 deals by investors on the floor of the Nigerian Stock Exchange. In comparison to previous week, a total of 1.382 billion shares valued at NGN12.053 billion changed hands in 16,877…

African Market Watch: Thurs, 26th 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, higher than the previous day. BRVM 10 index rose from 270.42pts to 270.97pts, a gain of 0.20%. BRVM Composite index gained 0.28% to 266.05pts against 265.32pts previously. The equity market capitalization was recorded at XOF 6,564.81 billion. Likewise, the traded value was recorded at XOF 395.679 million and total volumes recorded at 56,555 shares in…

National Bank of Canada Buys an Equity Stake in the African Financial Group NSIA

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National Bank of Canada (“National Bank”) today announced that it is purchasing a stake in NSIA Participations (“NSIA”), a financial group headquartered in Abidjan, Côte d’Ivoire, with operations in 12 countries across West and Central Africa. With this transaction, National Bank and Amethis Africa Finance (“Amethis Finance”) acquire the equity stake held by private equity fund ECP Africa Fund III PCC in NSIA. National Bank will have a 20.9% interest, while that of Amethis Finance…

African Market Watch: Tuesday, 24th 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, 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)….

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