The Editorial Team |

IMF Says Ghana Needs More Revenue, Fewer Spend Cuts for Goal

ACCRA (Capital Markets in Africa ) – Ghana needs to improve revenue collection and can’t keep reducing spending on capital items to achieve its fiscal targets, the International Monetary Fund said. That’s one of the recommendations made by the Washington-based lender during a review of the nation’s $1 billion extended credit-facility program, country representative Natalia Koliadina said. Under the plan that started in April 2015 and is due to end in December, Ghana committed to implementing reforms…

Morocco’s credit profile reflects move towards value-added exports and fiscal progress

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RABAT (Capital Markets in Africa) – Morocco’s (Ba1 positive) credit strengths reflects a structural shift towards higher value-added export industries and fiscal improvements which could lead to stronger non-agricultural growth and a stabilization and gradual reduction in public sector debt, Moody’s Investors Service said in a report published last Friday. The main constraints on Morocco’s rating are relatively low GDP per capita, a volatile growth pattern and a relatively high, but affordable, debt-to-GDP ratio. A…

ETHIOPIA: Ratings affirmed on strong growth prospects

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ADDIS ABABA (Capital Markets in Africa) – Moody’s Investors Service affirmed Ethiopia’s long-term issuer rating and senior unsecured rating at ‘B1’ with a ‘stable’ outlook. It said that the ratings are supported by the country’s very strong growth potential, and expectations of narrow fiscal deficits and low public debt levels. In contrast, it noted that the ratings are constrained by contingent liabilities from state-owned enterprises (SOEs), structural shortages of US dollars and elevated political risks….

CULTIVATING THE GREEN OPPORTUNITY IN KENYAN REAL ESTATE

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Nairobi, Kenya – Kenya has the opportunity to set a benchmark for Africa in implementing cost-saving green technologies, as it pursues its development goals as a committed signatory of the International Climate Agreement (ICA), said the Kenya Green Building Council’s (KGBS) Madhur Ramrakha. As the 49th ICA signatory, Kenya has committed to reducing its greenhouse gas emissions by 30 per cent by 2030, while achieving its housing, infrastructure, job and healthcare goals. But while the…

Distressed asset real estate investing – is now the time to be buying?

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NAIROBI (Capital Markets in Africa) – As discussed in our “where to invest in 2018” article, 2017 was a difficult year for the Kenyan real estate market. With some residential and commercial nodes facing an oversupply, depressed sales figures across the board, and the disappearance of the senior debt market, we have to assume that some real estate investors are hurting and in desperate need of Liquidity. As any equities trader will tell you, this…

ICD Board of Directors names Al Ammari as Acting CEO & General Manager following departure of Al Aboodi

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Jeddah, 12 Feb 2018 – The Board of Directors of the Islamic Corporation for the Development of the Private Sector (ICD) named Mr. Mohammed Al Ammari as Acting CEO & General Manager, succeeding Mr. Khaled Al Aboodi, who has recently been appointed to lead the government-owned Saudi Agricultural and Livestock Investment Company (SALIC). “I am deeply honored to have served as ICD CEO & General Manager working with talented and dedicated staff to fulfill…

Ghana President Pledges to Build on Economic Progress of 2017

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ACCRA (Capital Markets in Africa) – Ghana’s President Nana Akufo-Addo said efforts to stabilize the economy are beginning to yield results as the rate of debt-growth slowed while the government exceeded targets for keeping spending under control. The West African nation wants to avoid another bailout from the International Monetary Fund after the current credit facility ends this year, Akufo-Addo, 73, told lawmakers Thursday in the capital, Accra. Ghana’s budget deficit probably narrowed to 5.6 percent…

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