The Editorial Team |

Egyptian Exchange EGX 30 Price Index Rises, South Africa FTSE/JSE Breadth Strengthens

CAIRO (Capital Markets in Africa) – Market breadth for the FTSE/JSE Africa All Share Index strengthened as the number of companies that rose exceeded declining shares by 114 to 40, the most since Feb. 15. The South Africa FTSE/JSE rose for the second day, climbing 2.3 percent, or 1,330.46 to 59,242.86. Bloomberg’s market breadth function helps you analyse the main stock indexes around the world, highlighting when an unusual percentage of index members breach technical levels ranging from…

Zimbabwe Is Said to Be Ready to Quit Mugabe Policies Before Vote

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HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party plans to bolster its campaign for this year’s general elections by jettisoning former President Robert Mugabe’s “look east” policy toward China and Russia and adopt some of the opposition’s key initiatives, according to three senior party officials. Since Emmerson Mnangagwa replaced Mugabe as president after a military intervention in November, the authorities in Harare, the capital, have shown a willingness to re-engage with western nations and institutions in an…

Al-Qaeda Militant Raids Erode Malian President’s Popularity

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BAMAKO (Capital Markets in Africa) – Foreign travel is the first thing that comes to mind when Malian lettuce farmer Moussa Samake thinks about President Ibrahim Boubacar Keita. Nicknamed “the carrier pigeon” for his frequent trips abroad, Keita, 73, is expected to seek re-election in July after a five-year term marred by growing insecurity in the landlocked West African nation. His failure to halt a steady rise in deadly jihadist attacks has left many Malians disillusioned…

Africa’s Richest Woman Denies Illegal Transfer at Oil Firm

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LUANDA (Capital Markets in Africa) -Isabel Dos Santos, the billionaire fired as chairwoman of Angola’s state oil company last year, denied any wrongdoing in the transfer of $38.2 million from the company and said the allegations were politically motivated. The allegations, made by Sonangol’s Chairman Carlos Saturnino are the latest salvo in a crackdown on the interests of the family of former President Jose Eduardo Dos Santos, who ruled the continent’s second-biggest oil producer for almost four decades….

It’s Much Ado About Nothing as Tanzania Frets Over Credit Rating

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DAR ES SALAM (Capital Markets in Africa ) – Tanzania may be less than enamoured with its first credit rating, but there’s little to suggest the gas-rich East African nation would be blocked from the Eurobond market that it’s long been tempted to tap. After discussing plans to get a rating for at least a decade, Tanzania obtained one of B1, four steps into junk territory, from Moody’s Investors Service on Friday. Government officials weren’t impressed. Dotto James, the…

Strikes Spread in Restive Ethiopia Region Before Tillerson Visit

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ADDIS ABABA (Capital Markets in Africa) – Strikes protesting Ethiopia’s state of emergency spread across the restive Oromia region ahead of U.S. Secretary of State Rex Tillerson’sarrival for talks with the Horn of Africa nation’s embattled government. The closing of shops and roads by members of Ethiopia’s largest ethnic group is the latest sign of discontent in Oromia state, where unrest has prompted the country’s second state of emergency in two years. Tillerson is due in…

Nigeria’s Sticky Inflation Threatens to Curb Rate-Cut Hopes

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LAGOS (Capital Markets in Africa) – Nigeria’s long-awaited interest rate-cutting cycle risks being short-lived, if it starts at all. Governor Godwin Emefiele said last month the Central Bank of Nigeria may reduce its benchmark from a record-high 14 percent before July if inflation drops closer to single digits. But with fuel costs surging and government spending swelling before next year’s election, he may struggle to reach that threshold at a time when the pace of price growth is still…

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