Author: The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwean banks traded $7.7 million since the central bank effectively created a new currency that’s its allowing to be bought and sold on an interbank market, a person familiar with the matter said. The amount is part of an initial allocation of $25 million that the Reserve Bank of Zimbabwe is providing to commercial banks to trade, the person said, declining to be identified because the information isn’t public….

CAIRO (Capital Markets in AfricaA) – Egyptian bonds have plenty of appeal as economic reforms, support from the International Monetary Fund, and a surprise interest-rate cut offer something for investors at home and abroad. Local-currency notes have returned 5 percent in February, the best gain in emerging markets, according to data compiled by Bloomberg. They’ve also posted the best year-to-date and one-year performance, while the currency has recovered to its strongest level against the dollar in…

LONDON (Capital Markets in AfricaA) – Brexit continues to take a toll on the U.K., with new figures Thursday showing a fall in business confidence and continued weakness in the property market. House price-growth remained tepid in February, with values rising just 0.4 percent from a year earlier, according to Nationwide Building Society. A separate report from Lloyds showed optimism among firms at a seven-year low, while GfK said consumer confidence is still close to the weakest…