The Editorial Team |

Nigeria: Economic activity to pick up in second half of 2019

LAGOS (Capital Markets in Africa) – Citi Research expected the Nigerian economy and the naira to remain stable in the first half of 2019. It said that most politicians and policymakers are seeking to maintain macroeconomic stability in the country amid potential political uncertainty around the national elections that are scheduled in February 2019. It estimated that real GDP growth could have slightly increased in the fourth quarter of 2018, and expected it to further…

Kenyan Bank Sees Decade’s Biggest Merger as African Springboard

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NAIROBI(Capital Markets in Africa) – After agreeing to Kenya’s biggest banking merger in at least a decade, Commercial Bank of Africa Ltd. and NIC Group Plc, are ready to take on regional rivals that have outsized them until now. The combined entity will have assets of 415 billion shillings ($4.1 billion) — about double what they each hold individually in the country — catapulting it past Co-operative Bank of Kenya Ltd. as the East African nation’s third-largest lender….

IMF Board to Consider Egypt’s Fourth Loan Review on Feb. 4

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CAIRO(Capital Markets in Africa) – The International Monetary Fund’s executive board will discuss Egypt’s fourth loan review on Monday, opening the door for the anticipated payout of the fifth installment of the fund’s $12 billion loan to the Arab nation. The loan was approved in November 2016 after Egypt devalued its currency and launched a sweeping program to overhaul the economy. It was a key part of the government’s efforts to restore investor confidence that had…

Why Is Nigeria Cracking Down on Peaceful Religious Protests?

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LAGOS(Capital Markets in Africa) – The Nigerian government appears to be taking a hard line on religious opposition — though not against the usual suspects. Even as the Boko Haram insurgency persists in the north, peaceful demonstrations by the Islamic Movement of Nigeria (IMN) sparked a recent round of state repression. In late October, protests in and around the capital left at least 45 IMN members dead and more than another 100 wounded after Nigerian…

Home Prices in London’s Best Districts Just Hit a Six-Year Low

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LONDON (Capital Markets in Africa) – Political chaos and a series of tax hikes pushed the average price of a home in London’s most-desired districts down by almost 5 percent last year, paring it to a low not seen since the start of 2013. Home prices in the U.K. capital’s prime postcodes — which include Chelsea, Islington, Kensington and Mayfair — dropped 1.5 percent in the final quarter of 2018 as lawmakers failed to reach an accord on…

Pound Traders May Be Risking Brexit Tumult With Low Volatility

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LONDON (Capital Markets in Africa) – Time is fast running out on Brexit and there’s still no solution in sight — yet, pound options traders are remarkably sanguine. The cost of protecting against price swings in sterling has fallen to an almost three-month low even after U.K. lawmakers rejected Theresa May’s withdrawal plan and told her to renegotiate it with the European Union, which has warned it won’t budge. Given the risk of the whole deal…

Brexit’s Not Bad for Everyone; Just Ask This U.K. IT Firm

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LONDON (Capital Markets in Africa) – Brexit’s impending arrival is prompting intensifying warnings from the likes of Airbus SE and Nissan Motor Co. about the potential fallout for U.K. businesses. But Britain’s split from the European Union has been a boon to at least one information-technology provider. Kainos Group Plc stock surged almost 11 percent Monday after the London-based government contractor said full-year results will probably exceed analysts’ expectations, thanks to “very strong” growth in digital services and ongoing demand from…

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