The Editorial Team |

Moody’s: Currency shifts to widen gap between global economies in 2015-16

London (Capital Markets in Africa):- Robust US growth and stabilising financing conditions will help the global economy to grow more strongly next year after muted growth in 2015, says Moody’s Investors Service in its quarterly Global Macro Outlook report. Divergence between the major economies is likely to widen. The report “Global Macro Outlook: 2015-16. Stronger US Dollar and Shifts in Capital Flows Stoke Divisions in Global Growth”, is now available on www.moodys.com. Moody’s subscribers can…

Kenya Market Watch | May 12th 2015: Kenya equity indices end in Red….

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Nairobi, Kenya (Capital Markets in Africa):- The Nairobi Security Exchange top 20 (NSE 20) Index declined by 29.58 points to close at 5,012.94 points today. Likewise, the Nairobi All Share Index went down by 1.19 points to close at 169.46 points with total market capitalization at KES 2,387.19 billion. The highest market gainers were Housing Finance edging up by 6.20 percent to close at KES 34.25, Crown Berger Paint Kenya gained 5.96 percent to settle…

Cote d’Ivoire Market Watch | May 12th 2015: BRVM gained XOF 7.7 billion today

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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 today, higher than the previous day. BRVM 10 index rose from 271.35 to 272.34 points, a gain of 0.36%. BRVM Composite index gained 0.11% to 262.47 against 262.17 points previously. The equity market capitalization closed at XOF 6, 476.67 billion compared to XOF 6,469.11 billion recorded an increase of XOF 7.56 billion to previously trading session….

Lower prices to hurt Africa’s oil producers say IMF report

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Lagos, Nigeria (Capital Markets in Africa):- Lower oil prices will reduce growth in sub-Saharan Africa’s major petroleum producing countries and push governments to implement significant policy adjustments, according to the International Monetary Fund (IMF) report released on 28th April 2015. It noted that SSA growth could slow to 4.5% this year from 5.0% in 2014, largely because of the weaker oil prices, while forecasting growth rising to 5.1% in 2016. “For the eight oil exporters,…

Egypt Market Watch | May 12th 2015: Egyptian equities shed off about EGP 1.4 billion

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Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices ended Tuesday’s trading on southward, due to uncertainty on the government decision on the controversial capital gains tax and pressured by institutional sell-offs. The Egyptian equity market capitalisation shed off about EGP 1.4 billion to settle at EGP 497.8 billion. Likewise, the benchmark index EGX30 fell 0.20%, or 17.51 points to close at 8674.34 points. Also, the small and mid-cap index declined by 0.91% to…

OPEC predicts oil prices will stay below $100 for a decade

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The Organization of the Petroleum Exporting Countries (OPEC) thinks oil will stay below $100 for a decade, and it’s worried a low oil price environment won’t be enough to snuff out the emerging US shale gas industry. A report seen by the Wall Street Journal has said that OPEC thinks a best-case scenario will see oil prices at $76 a barrel in 2025. And the organisation also warned crude oil could cost less than $40 per barrel…

Tanzania signs up for customs deal alongside Kenya, Uganda and Rwanda

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Dar es Salaam, Tanzania (Capital Markets in Africa):- Tanzania has joined Kenya, Uganda and Rwanda in fast tracking the movement of goods along the main corridors (Northern and Central) under the customs seals in the COMESA region. This follows the signing of an inter-surety agreement by Tanzania’s National Insurance Corporation (NICT) to join the COMESA Regional Transit Guarantee (RCTG) scheme thereby allowing the country to issue regional customs bond guarantees. The RCTG Scheme is a customs transit…

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