Author: The Editorial Team

CAIRO (Capital Markets in Africa ) – Monetary stimulus is needed to revive growth and attract foreign direct investment. Business activity in Egypt’s non-oil private sector slipped in February to its lowest level since September 2017. The central bank is still a long way from unwinding rate increases deployed to steady inflation after floating the currency in November 2016. While price growth has since stabilized, however, it accelerated for a second month to an annual…

JOHANNESBURG (Capital Markets in  Africa) – Higher power, food and fuel prices will likely crimp household spending and limit prospects for stronger economic growth, resulting in the South African Reserve Bank having to hold the nation’s key interest rate for the rest of the year, economists said. The Monetary Policy Committee’s unanimous decision to maintain the repurchase rate at 6.75 percent was in line with the expectations of all 18 economists in a Bloomberg survey. The bank…

KINSHASA (Capital Markets in  Africa) – The Democratic Republic of Congo granted licenses to six insurance companies to begin operating, ending more than four decades of state monopoly of the industry. Permits are being granted to firms including units of Rawbank Sarl, the nation’s biggest lender, and France’s Gras Savoye & Cie, Alain Kaninda, director-general of the Insurance Regulatory Authority, told reporters Thursday in the capital, Kinshasa. Four insurance providers and two brokerages were authorized to…