The Editorial Team |

Nigerian Economic Growth at 4-Year High on Oil and Credit Boost

LAGOS (Capital Markets in Africa) – Nigeria’s economy expanded the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. Gross domestic product expanded 2.27% last year, the most since 2015, the Abuja-based National Bureau of Statistics said on its website on Monday. The economy grew 2.55% in the three months through December from a year earlier, compared with 2.3% in the third quarter. The…

Smooth West African Polls May End Bourse’s Four-Year Losing Run

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ABIDJAN (Capital Markets in Africa) – The benchmark stock index in West Africa’s regional bourse, which has been in retreat since 2016, may get a boost if a flurry of elections in member countries pass off smoothly this year, according to a money manager. Four states affiliated with the Bourse Regionale des Valeurs Mobilieres: Togo, Burkina Faso, Niger and Ivory Coast, Francophone West Africa’s largest economy, go to the polls this year. Successful voting, combined…

INTO AFRICA February 2020 Edition – Lens on Africa’s Economy in 2020

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LAGOS (Capital Markets in Africa) – Wish you a prosperous year 2020 and welcome to the February 2020 edition of the INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. This edition provides insight and foresight into African economies from economists and analysts, hence the edition titled: Lens on Africa’s Economy in 2020. Last year…

Africa Energy Forum 2020 to address SDG7 and Impact of Energy Investment

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Under the overarching theme “Investment & Impact,” the Forum’s 2020 programme puts sustainable development and the impact of power projects under the spotlight The 2020 Africa Energy Forum (AEF) will welcome Chairwoman Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All (SEforALL) and Co-Chair of UN-Energy, to officiate the opening sessions. Mrs. Ogunbiyi said: “Africa is a region full of promise and economic opportunity. Yet as we begin the…

Bond-Market Darling Egypt Says It Has What Investors Crave Most

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CAIRO (Capital Markets in Africa) – Bond investors who came to Egypt to reap a quick payoff might stick around for longer given what the government says it has to offer. “Investors around the world are looking for a place that has stability and safety, and I think Egypt has that,” Finance Minister Mohamed Maait said Thursday in an interview on the sidelines of an energy conference in Cairo. Outside investors have pumped billions of dollars into the North African nation’s…

Nigeria Seen Unable to Avert Naira Devaluation Past 2021

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LAGOS (Capital Markets in Africa) – Dwindling reserves and lower oil prices will probably force the Nigerian central bank to devalue one of the world’s most stable currencies by next year, according to a Bloomberg survey of investors and analysts. Ten out of 19 respondents expect the naira to be weakened in 2021, while five predict a mark-down as early as the second half of this year. The remainder believes the central bank will keep…

World’s Best Carry Trade Thrives With Egypt’s Rates on Pause

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CAIRO (Capital Markets in Africa) – The world’s best carry trade is proving resilient, especially now that a pause in Egypt’s easing cycle keeps its interest rates elevated. The Egyptian pound is delivering another strong performance this year following a record appreciation in 2019. That’s enticing traders who borrow in currencies where rates are low and invest in the assets of countries where they are high to turn to Egypt. Even with inflation well below the central…

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