The Editorial Team |

Fitch: T-Bill Supply Slowdown May Hurt Nigerian Bank Profits

LAGOS(Capital Markets in Africa) – Nigerian banks may find it more difficult to sustain profitability given the decline in net treasury bill (T-bill) issuance in Nigeria’s 1Q18 issuance programme, Fitch Ratings says. The slowdown in T-bill issuance marks a change of strategy as the government looks to increase its financing from external sources and longer-dated domestic issuances. Record T-bill issuance in 2017 helped support the Central Bank of Nigeria’s strategy to maintain naira exchange-rate stability….

A Tool for Making Sense of Cryptocurrency Markets: Aaron Brown

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LAGOS (Capital Markets in Africa) – Bitcoin rose 88 percent from Dec. 1 to 19, then fell 23 percent by Dec. 30, a net 44 percent increase for the month. Attention naturally focused on those events, but the important longer-term story is what’s happening within the entire cryptocurrency sector. The market value of all non-bitcoin crypto assets rose 153 percent during bitcoin’s upswing, and 4 percent more while bitcoin declined, for a return of 162…

South Sudan Rebel Attacks Kill 34 People Since Beginning of Year

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South Sudan (Capital Markets in Africa) – Attacks by rebel groups in South Sudan killed 34 people in the first three days of this year even as warring parties agreed in December to cease hostilities, according to a military official. Three attacks in the south of the country by rebels loyal to former Vice President Riek Machar and the army’s ex-deputy chief of staff, Thomas Cirillo Swaka, left six assailants dead Wednesday while an ambush on traveling…

Nigeria Loses Almost Half Its Power Output After Pipeline Fire

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LAGOS (Capital Markets in Africa) – A fire at a Nigerian pipeline interrupted gas supplies to companies generating more than 3,000 megawatts in Africa’s most populous nation, the government said. The fire at the Escravos-Lagos pipeline owned by the Nigerian National Petroleum Corp. in the southern Edo state required a shutdown of the pipeline supplying gas to the 1,320-megawatt Egbin power plant, the nation’s biggest, and five others, according to an emailed statement by the Power,…

Bitcoin Loses Dazzle as Second-Tier Crypto Coins Catch Up

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LAGOS (Capital Markets in Africa) – Bitcoin alternatives are closing the gap with the market leader after names like stellar and cardano became red hot as 2017 was closing. The biggest cryptocurrency’s share of market value has fallen to a record 36 percent from 56 percent a month ago, according to CoinMarketCap prices for coins and tokens. Stellar, designed for cross-border payments, has more than doubled in the first trading days of this year, achieving…

Mauritius SEMDEX Rises 0.7% to 2,215.5; MCB Leads Advance

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PORT LOUIS (Capital Markets in Africa) – The Mauritius Stock Exchange Semdex Index rose 0.7 percent to 2,215.5. The move was the biggest since rising 1 percent on Dec. 18 and follows the previous session of less than one percent. The MSCI Emerging Markets Europe, Middle East and Africa Index advanced 0.3 percent. MCB Group Ltd. contributed the most to the advance, rising 0.7 percent. ENL Commercial Ltd. increased 3.9 percent, the biggest gain. Mauritian Eagle Insurance Co. Ltd….

Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

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TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose 0.9 percent to 6,257.24. The move was the biggest since rising 1.1 percent on Aug. 29 and follows the previous session’s decrease of 1.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.07 percent. Poulina Group contributed the most to the advance and had the biggest gain, increasing 5.3 percent. Servicom SA fell 3.2 percent, the biggest loss. The biggest movers also…

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