The Editorial Team |

Ghana targets five million passengers yearly with AfDB-funded international airport expansion

ACCRA (Capital Markets in Africa) – The project, funded by the African Development Bank (AfDB) with a $120-million facility, will improve air transport in the country. It is also expected to contribute towards boosting the country’s economy, reduce the cost of doing business, and improve competitiveness. “This terminal is being built for a successful economic future. Its large capacity is a confident statement of intent,” said AfDB President, Akinwumi Adesina during a tour of the…

With Sukuk & Innovation Driving New Growth Momentum, the Prospects for Islamic Finance in Africa Look Increasingly Promising

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Despite being in the early phases of development, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent Wednesday 9th August 2017, DJIBOUTI: The footprint of Islamic banking in Africa is set to expand further as the continent seeks to deliver on the economic and…

INTO AFRICA August 2017 Edition: Delivering Value via African Capital Markets

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LAGOS (Capital Markets in Africa) – Welcome to the August edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging markets. This month edition focuses on Capital Markets in Africa and titled: Delivering Values via African Capital Markets. The capital market is one of the key components of the engine of a modern economy, as it mobilises and pools savings from the public and efficiently channels them into business investments. It also helps…

Egypt Moves to End State Monopoly of Natural Gas Market

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CAIRO (Capital Markets in Africa) – Egypt is opening the door to private participation in its natural gas sector, moving to end the state’s monopoly as it pushes ahead with reforms meant to encourage investment and revive the economy. The new law signed by President Abdel-Fattah El-Sisi sets up a natural gas regulatory authority charged with licensing and devising a plan to open the gas market to competition. It also allows for the eventual import of natural…

Fitch affirms African Development Bank at ‘AAA’; outlook stable

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ABIDJAN (Capital Markets in Africa) – Fitch Ratings has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook and Short- Term IDR at ‘F1+’. The ‘AAA’ rating primarily reflects extraordinary support from AfDB’s shareholders, assessed by Fitch at ‘aaa’, which provides a three-notch uplift over the bank’s intrinsic rating. AfDB enjoys strong support from its 80 member states, which include 26 non-African countries with high average ratings….

Top-Performing Arab Economy Balks at Currency Float on Egypt

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CAIRO (Capital Markets in Africa) – In five decades of importing steel wires, Zahar Benmoussa’s company never worried about currency risks — until Morocco announced plans to float the dirham. “For the first time in our history, we started to hedge” in the currency market, said Benmoussa, managing director at Casablanca-based Grillages Marocains. Across Morocco, fears of a weaker dirham triggered a rush for dollars and euros, causing a $3 billion drop in its reserves in…

Ethiopia’s credit profile balances high growth and low debt costs against range of challenges

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ADDIS ABABA (Capital Markets in Africa) – Ethiopia’s B1 rating and stable outlook reflects its strengths, including high growth levels and low debt-servicing costs, set against challenges such as high inflation, low per capita income, low foreign exchange reserves and a weak institutional framework, Moody’s Investors Service says in an annual report today. The report, “Government of Ethiopia – B1 Stable, Annual Credit Analysis”, is now available on www.moodys.com. Moody’s subscribers can access this report…

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