The Editorial Team |

Tunisia: AfDB grants €49.4 million loan to enhance natural gas supply to disadvantaged regions

Tunis, Tunisia (Capital Markets in Africa) — The Board of Directors of the African Development Bank (AfDB) Group approved on Wednesday, April 1, 2015 in Abidjan, a €49.4-million loan to the Tunisian Electricity and Gas Corporation, la Société tunisienne d’électricité et du gaz (STEG). The project for the development of natural gas transportation and distribution to the western part of the country is aimed at improving the supply of cheaper and less-polluting energy to the…

Barclays Africa Applies for Equities Trading Licence in Nigeria

Posted on by The Editorial Team

Barclays Africa Group Limited, which is expanding on the continent after buying most of its parent’s operations in Africa, has applied for an equities trading license in Nigeria in addition to a commercial licence. “We really want to follow our corporate clients into Nigeria,” Bloomberg quoted the chief executive officer of the Johannesburg-based lender, Maria Ramos to have said in a recent presentation. “We want to bank our global and local clients in Nigeria. It’s…

Nigeria: 2015 Election analysis

Posted on by The Editorial Team

At the time of writing, the election results had still not officially been declared by the Independent National Electoral Commission (INEC). Problems with biometric card readers delayed voter accreditation, and a few attacks on election centres caused a delay in the voting process itself. This led INEC to extend the vote by one day from March 28 to March 29 in some areas. We do not expect to see significant changes in policy regardless of…

Fitch Affirms Nigeria at ‘BB-‘; Outlook Revised to Negative

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London, March 30 (Fitch): Fitch Ratings has affirmed Nigeria’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘ and ‘BB’ respectively. The Outlooks on the Long-Term IDRs have been revised to Negative from Stable. The issue ratings on Nigeria’s senior unsecured foreign currency bonds are affirmed at ‘BB-‘. The Country Ceiling is affirmed at ‘BB-‘ and the Short-Term Foreign Currency IDR at ‘B’. Under EU credit rating agency (CRA) regulation, the publication of…

Nigerian Equity: Week Ending 27th March 2015

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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…

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