The Editorial Team |

Nigeria flags oil output rise ahead of debt deal with majors

ABUJA (Capital Markets in Africa) – Nigeria’s oil production has risen to close to 1.8 million barrels per day (bpd), oil minister Emmanuel Ibe Kachikwu said ahead of the expected signing of a deal over repayments of $5.1 billion in debt from joint venture projects. Kachikwu is due to sign the deal later on Thursday with oil majors ExxonMobil, Royal Dutch Shell, Eni and Chevron. Nigeria has struggled with debt to oil majors amid the…

Nigeria cuts size of domestic bond auction as yields rise

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria sold far fewer bonds than it offered on Wednesday, as investors worried about rising inflation demanded higher yields from a government looking to spend its way out of recession. Africa’s largest economy raised 69.2 billion naira ($227 mln) in bonds maturing in five, 10 and 20 years’ time, less than the 95 billion naira it had wanted. Investors were demanding yields of up to 18 percent for the…

South Africa’s Rand Merchant buys 30 pct stake in UK insurer Hastings

Posted on by The Editorial Team

LONDON (Reuters) – South Africa’s Rand Merchant Investment Holdings ramped up its presence in the British insurance market on Wednesday with the purchase of a 30 percent stake in Hastings, driving the UK firm’s shares to 2-1/2 month highs. Hastings, which listed just over a year ago, has made headway in a competitive sector by focusing on selling motor insurance via price comparison websites. Hastings Investco, the firm’s main shareholder, and other individual shareholders are…

AfDB invests $20 million in Sudan’s water and sanitation project

Posted on by The Editorial Team

SUDAN (Capital Markets in Africa) – In collaboration with the UK Department of International Development (DfID), the African Development Bank (AfDB) concluded a project identification mission to Port Sudan on December 13, 2016. The mission sought to hold discussions with authorities and stakeholders on the possibility for the AfDB to finance the Port Sudan Priority Water and Sanitation (PSPWS) project as part of its joint efforts with DfID to address Port Sudan’s short-, medium- and…

Egypt Market Watch | Dec 15 2016: Egyptian Stock ends in green zone

Posted on by The Editorial Team

Cairo (Capital Markets in Africa) – The Egyptian Exchange finished Thursday’s trading session on a higher note, backed by foreign investors’ purchases. The main index EGX30 edged up 8.9 points or 0.08% to 11,326.03 points. The small and mid-cap EGX70 inched up 0.24% to 451.71 points. The broader index EGX100 ended higher 0.14% to 1,064.36 points and the equal-weighted index increased 5.8 points or 0.32% to 1,819.8 points. Market capitalization added EGP 571.06 billion to…

A ROBUST YEAR FOR SOUTHERN AFRICAN PRIVATE EQUITY IN 2016

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – In a climate of economic and political instability, private equity in Southern Africa has again had a robust year. The region still accounts for about a third of the African private equity market, with the bulk of deal activity (measured both in terms of value and volume) being centralised in South Africa. “The average deal size for the year across Southern Africa has been around US$250m to US$300m,…

Nigerian Equity Markets | 14 Dec 2016: Equities Rally on Stronger Buy Sentiment, NSE ASI up 1.3%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The bullish sentiment in the Nigerian equity market was sustained as the All Share Index further appreciated 1.3% today to close at 26,407.64 points. Performance was largely driven by price appreciation in DANGCEM (+1.9%), FORTE (+10.2%), SEPLAT (+6.7%) and GUARANTY (+3.0%). Consequently, market capitalization grew N115.7bn to close at N9.1tn. Activity was however mixed as volume traded declined 45.5% to 205.3m units and value traded surged 77.4% to N4.3bn with a total of 3,275 deals. Consumer Goods…

« 1 … 773 774 775 776 777 … 1,073 »