The Editorial Team |

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

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….

Why Africa’s Top Oil Producer Is Low on Gasoline: QuickTake Q&A

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LAGOS (Capital Markets in Africa)- Nigeria, Africa’s biggest oil producer and a member of OPEC, has suffered fuel shortages over the past few weeks. They complicated transport and hurt economic activity and, in the words of PresidentMuhammadu Buhari, ensured that for many Nigerians the Christmas holidays were “anything but merry and happy.” His administration says it’s working overtime to end the queues that have formed at gasoline stations throughout much of the country. Nigeria is about the…

Kenya President Keeps Treasury Chief as He Builds Government

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NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta retained his Treasury and energy chiefs as he begins building a government with the task of reuniting East Africa’s biggest economy after months of electoral uncertainty. Treasury Secretary Henry Rotich and Energy Secretary Charles Keter will remain in their posts, as will the head of the Tourism Ministry, Najib Balala, and Information and Communications Secretary Joseph Mucheru. Kenyatta also named Fred Matiang’i as interior minister in a televised address on Friday,…

Activity Expands in African Economies as Stability Boosts Demand

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LAGOS (Capital Markets in Africa) – Business activity in some of sub-Saharan Africa’s biggest economies is expanding due to increased demand and the return of political stability. Purchasing Managers Indexes published on Thursday showed expansion in companies in Nigeria, Kenya, Ghana, Uganda and Zambia in December. In South Africa, the continent’s most-industrialized economy, the index fell and remained below the neutral mark of 50 for the fifth straight month as the fiscal outlook remains challenging and…

As Chaos and Despair Grow in Libya, Qaddafi Son Plans Comeback

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TRIPOLI (Capital Markets in Africa) – The fugitive son and onetime heir apparent of Libya’s late Muammar Qaddafi is planning a comeback. Seif al-Islam “decided to run in presidential elections and I see a big chance for him because all the big tribes are supporting him,” said Abdel Majeed al-Mansouri, who headed Libya’s economic development board before 2011 and was close to him. “People are frustrated. Even those who were against the old regime will side…

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