The Editorial Team |

Egypt Presidential Vote in March as Top El-Sisi Rival Out

CAIRO (Capital Markets in Africa) – Egypt’s top election body said Monday that the next presidential election will be held in March, and gave prospective candidates about three weeks to declare. So far the race has only one potential contender: incumbent Abdel-Fattah El-Sisi. His most serious possible challenger to date, former premier and air force general Ahmed Shafiq, backed out of contention late Sunday after a mysterious string of events. That left the field wide open…

Cryptocurrencies Slide as Regulation, Demand Concerns Linger

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LAGOS (Capital Markets in Africa) – Bitcoin slumped as much as 17 percent, helping to drag down smaller rivals such as ripple and litecoin, as the world’s largest cryptocurrency continues to be whipsawed by concerns about regulation and demand from Asia. “The fuss about regulators tightening screws in South Korea is pushing the price of bitcoin,” said Naeem Aslam, chief market analyst at TF Global Markets in London. “This and the Chinese news is going to bring…

Nigeria SE Rises 2.1% to 39,746.29; Dangote Cement Leads Advance

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LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the third day, climbing 2.1 percent, or 823.03 to 39,746.29. The move was the biggest since rising 2.4 percent on Aug. 1. The MSCI Emerging Markets Europe, Middle East and Africa Index declined 0.3 percent. Dangote Cement Plc contributed the most to the advance, rising 3.1 percent. Conoil Plc increased 10 percent, the biggest gain. Fidson Healthcare Plc fell 5 percent, the biggest loss. The…

Zimbabwean Opposition Leader Tsvangirai Suggests He May Retire

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HARARE (Capital Markets in Africa) – The leader of Zimbabwe’s main opposition party hinted Monday at his possible retirement, less than two months after the end of his long-time foe President Robert Mugabe’s almost four-decade rule. “We must recognize the imperative that new hands, with the full blessing of the people, must take this struggle and this country forward,” Morgan Tsvangirai of the Movement for Democratic Change said in a statement emailed from the capital, Harare. Mugabe, 93,…

Egypt’s EGX 30 Up Most Since Nov. as Investors Target Dividends

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CAIRO (Capital Markets in Africa) – Egypt’s EGX 30 rises 1.2% to 14,953.17 in Cairo on Monday, the most since Nov. 28; Investors looking for income in the form of dividends, says Sherif Shebl, equities trader at Pharos Holding for Financial Investments in Cairo. 18 shares advance, nine drop and three are unchanged CIB up 3.2%, contributes most to index gain Biggest increase in almost a year Highest level since Nov. 2 NOTE: Lender is the biggest…

Tunisia SE Rises 0.8%; Banque Internationale Tunisie Leads Gains

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TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose for the second day, climbing 0.8 percent, or 51.96 to 6,316.99. The index advanced to the highest level since Sept. 12. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.16 percent. Banque Internationale Arabe de Tunisie contributed the most to the advance, rising 3.3 percent. Societe Immobiliere Tuniso Seoudienne increased 4.2 percent, the biggest gain. Societe Tunisienne de L’Air fell 4.8…

Sub-Saharan Africa Outlook subject to significant downside risks

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LAGOS (Capital Markets in Africa) – The World Bank projected economic growth in Sub-Saharan Africa (SSA) to accelerate from 2.4% in 2017 to 3.2% in 2018 and to average 3.6% annually during the 2019-20 period, supported by an increase in commodity prices and stronger domestic demand. Still, it expected the region’s growth rate to remain below the pre-global financial crisis level, as Angola, Nigeria and South Africa, the region’s largest economies, continue to face challenges….

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