The Editorial Team |

Moroccan Central Bank keeps benchmark interest rate unchanged at 2,25%

RABAT (Capital Markets in Africa) – Morocco’s central bank said on Tuesday economic growth would jump to 4.2 percent next year from an estimated 1.2 percent in 2016 on the back of sharply rising agricultural output. It made the bullish projections as it kept its benchmark interest rate unchanged at 2.25 percent. Abnormally dry weather across North Africa slashed the cereal harvest last season to 3.35 million tonnes, down 70 percent from the previous record…

Life Healthcare to Fund Alliance Deal With $756 Million Offer

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JOHANNESBURG (Capital Markets in Africa) – Life Healthcare Group Holdings Limited. plans to raise as much as 10.7 billion rand ($756 million) through a rights issue as the South African company seeks to reduce debt after it expanded into the U.K. market. The fully underwritten offer will cut Life Healthcare’s debt to “the appropriate level of gearing for the company to restore its investment grade credit rating,” the Johannesburg-based owner of private hospitals said in a statement on…

Oil Trades Near $52 as Investors Eye Libyan Crude Output Return

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LAGOS (Capital Markets in Africa) – Oil hovered near $52 a barrel as investors eyed the potential return of crude volumes from Libya and await output cuts in January as part of an OPEC and non-OPEC deal. Futures were little changed in New York after swinging between gains and losses. Libyan oil-facility guards backtracked on an agreement to allow supply to flow from the El Feel and Sharara fields, two of the country’s biggest fields. Investors await production…

Kenya, EU Plan Bilateral Trade Deal Apart From Regional Pact

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NAIROBI (Capital Markets in Africa) – The European Union said it may sign a bilateral trade deal with Kenya as other East African nations vacillate on a separate free-trade pact, in a move that will help East Africa’s biggest economy retain market access to the bloc. While Rwanda and Kenya initialed the so-called Economic Partnership Agreement before an Oct. 1 deadline, the other four nations of the East African Community have yet to show similar commitment, making…

Mozambique Says Tight Monetary Policy Is Starting to Bear Fruit

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MAPUTO (Capital Markets in Africa) -Mozambique’s metical is stabilizing and the inflation rate is forecast to drop after an aggressive rate hike by the central bank in October, according to Governor Rogerio Zandamela. “The most recent information reported in the last quarter of the year is more encouraging,” Zandamela told reporters Monday in the capital, Maputo. “We noted that monetary adjustment has begun to produce the desired effects.” Inflation, which accelerated to 26.8 percent in November,…

AfDB signs US$ 500 million, 2nd tranche of budget support loan for Egypt

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CAIRO (Capital Markets in Africa) – The African Development Bank, on 19th December 2016, signed a loan of US$ 500 million to finance the Egypt Economic Governance and Energy Support Program Phase II. The loan, which was approved by the Bank’s Board of Executive Directors on 13th December 2016, is the second tranche of a three-year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the…

AfDB Group approves €769.78 million for urban transport in Ivory Coast

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ABIDJAN (Capital Markets in Africa) – The Board of Directors of the African Development Bank Group (AfDB) has approved a loan of 769.78 million euros to Côte d’Ivoire aimed at significantly improving urban transport in the city of Abidjan. This financing will contribute to improving the living conditions of the people living in Abidjan through the development and rehabilitation of road infrastructures. More specifically, the project involves the development of 87.9 km of fast urban…

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