The Editorial Team |

Tunisian Central Bank Holds Key Rate With an Eye on Inflation

TUNIS (Capital Markets in Africa) – Tunisia’s central bank left its benchmark interest rateunchanged as it monitors the effects of last month’s hike on inflation. The key gauge was held at 7.75 percent, the Central Bank of Tunisia said in a statement on Friday. The bank raised the rate by 100 basis points last month, the first increase since June, citing a need to curb price growth. Inflation accelerated to 7.3 percent in February from 7.1…

Brexit Risks Still Looming That Could Disrupt European Finance

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LONDON (Capital Markets in Africa) – A no-deal Brexit has been averted on March 29, but the prospect of a chaotic U.K. withdrawal from the European Union is still looming. Uncertainties remain despite regulators saying there is almost no chance of a crisis in the financial system and that they’ve prevented the biggest potential problems. Here are the key vulnerabilities. Trading Venues The EU gave traders new reason to fret that markets could turn ugly….

Why the Ethnicity Pay Gap Is Even More Complicated Than Gender

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LONDON (Capital Markets in Africa) – Companies in the U.K. are still grappling with the mandatory gender gap reporting reporting that went into effect last year, revealing a widespread disparity in the salaries and bonuses of men and women. Now the British government may require them to similarly analyze the pay of workers of different ethnicities. A survey of 80 large organizations by PricewaterhouseCoopers found 95 percent had not analyzed their ethnicity pay gap, with three quarters saying they…

Europe Stocks Rise, With U.K. Shares Down After New Brexit Date

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LONDON (Capital Markets in Africa) – European stocks opened steady following a mixed trading session in Asia, as British stocks fall after new Brexit developments. With only one week left of trading, European equities are heading for their best quarter since 2015. The Stoxx Europe 600 Index rose 0.2 percent, led by gains in technology shares. Deutsche Bank AG jumped 2.6 percent as the German lender said it sees 2019 revenue slightly higher than in 2018. European…

Ivory Coast Opts for Loans Over Eurobonds to Finance Budget

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ABIDJAN (Capital Markets in Africa) – Ivory Coast said it opened a tender to secure 500 billion CFA francs ($865 million) in commercial loans from offshore lenders as the West African nation seeks cheaper options than selling international bonds to finance its budget. In addition to the loans, the country will issue 900 billion francs in debt securities on the regional market to meet its finance needs of 1.4 trillion francs for the year, Prime…

Dangote’s Nigeria Tomato Plant Resumes After Years Idling

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LAGOS (Capital Markets in Africa) – A tomato-paste factory owned by Africa’s richest man, Aliko Dangote, resumed production in Nigeria’s northern state of Kano after staying idle for more than two years over a supply disruption partly caused by a price dispute with farmers. The factory, with a capacity for 1,200 metric tons of tomato paste daily and targeted at meeting domestic demand, restarted production last week processing about 100 tons a day. It will ramp up…

Nigeria’s Central Bank Sees Tight Monetary Policies Continuing

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LAGOS (Capital Markets in Africa) – Nigeria’s tight monetary policy will “continue in the near term” and the central bank will increase its funding to the agricultural sector, according to Governor Godwin Emefiele. The central bank will be able to maintain a stable exchange rate given the strength of Nigeria’s reserves, Emefiele, 57, said at a conference in the commercial capital, Lagos. The economy “will see more growth and reduced unemployment” from May 2019, when President Muhammadu…

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