The Editorial Team |

Nigeria Plans 20% Budget Rise to End Nigeria’s Economic Slump

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari presented plans to lawmakers to boost the nation’s spending by 20 percent next year in a bid to revive an economy set for its first full-year contraction in more than two decades. Buhari asked lawmakers to allow the government to spend 7.3 trillion naira ($23 billion) in 2017, compared with this year’s budget of 6.1 trillion naira. The proposal is based on a projected price of $42.50 per…

Mozambique Holds Key Interest Rate as Inflation Seen Peaking

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – Mozambique’s central bank held its key lending rate, with inflation expected to peak as the debt-distressed nation’s currency stabilizes. The Monetary Policy Committee kept the benchmark rate at 23.25 percent, Governor Rogerio Zandamela told reporters Wednesday in the capital, Maputo.Banco de Mocambique has raised the monetary policy rate by a total 13.5 percentage points in past meetings this year to try stem spiraling consumer prices in the coal-producing country. Consumer prices have…

Bowmans opens new office in Dar es Salaam, Tanzania

Posted on by The Editorial Team

Pan-African law firm Bowmans has announced the opening of a new office in Dar es Salaam, Tanzania, with effect from January 2017. It will bring the number of Bowmans’ offices in East Africa to three and will be its seventh office on the African continent – the firm already has offices in Kenya and Uganda as well as in Madagascar and South Africa. “The launch of our office in Tanzania is another step in the…

Nigerian Equity Markets | 13 Dec 2016: Nigerian Bourse Sustains Bullish Sentiment… NSE ASI up 1.0%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The positive performance in the Nigerian equities market was extended into the fourth consecutive trading session as the All Share Index (ASI) rose 1.0% to close at 26,071.16 points. Accordingly, market value improved by N87.2bn as market capitalization rose to N9.0tn. Market performance was majorly buoyed by gains in SEPLAT (+10.3%), FORTE (+10.2%) and GUARANTY (+2.0%). Market activity also surged as volume and value traded rose 247.1% and 47.3% to close at 376.7m units and…

IMF halves Mozambique’s growth, expects inflation rise

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – IMF staff team headed by Michel Lazare visited Mozambique from December 1-12, 2016 to assess recent economic developments and discuss policies to support macroeconomic stability. As highlighted in a November 28 statement (see Press Release No.16/528) , the team also initiated discussions on a new economic program that could be supported by the IMF. At the end of the visit, Mr. Lazare issued the following statement: “There have been several positive economic…

South Africa needs Reform to Lift Growth, says IMF

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Since 1994, economic growth and sound policies have been mutually reinforcing, fostering economic transformation and improving living conditions. However, the long-run economic growth rate has gradually slowed over the years. Following the onset of adverse shocks such as the decline in commodity prices, economic activity has come to a near-standstill in 2016 and the projected recovery to almost 1 percent in 2017 remains insufficient to keep pace with population…

Botswana’s central bank keeps Bank rate unchanged at 5.5 percent

Posted on by The Editorial Team

GABORONE (Capital Markets in Africa) – The Bank of Botswana Bank Rate was maintained at 5.5 percent at the Monetary Policy Committee (MPC) meeting held on December 13, 2016. This was in view of the positive outlook for price stability, with inflation forecast to be within the Bank’s 3 – 6 percent medium-term objective range. The Bank stated that the current state of the economy and both the domestic and external economic outlook, including the…

« 1 … 774 775 776 777 778 … 1,073 »