The Editorial Team |

In Turbulent Region, Stable Ghana Heads for Tight Election

ACCRA (Capital Markets in Africa) – Since the end of military rule more than two decades ago, to many Ghanaians presidential elections have become routine: a close race between the two main parties and disputes settled in court. While two of its West African neighbors have teetered on the brink of civil war and a third, Togo, has been ruled by the same family for 49 years, Ghanaians have come to take their nation’s political…

Nigeria Capital Markets Update Week Ending Dec 2 2016

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Equities Market Review and Outlook The local Bourse opened the week bearishly but trended northwards by mid-week and sustained uptrend till Friday, driving the ASI up 1.6% W-o-W. This bucked 6 consecutive weeks of losses. Interestingly, mid-week rebound in the market coincided with developments in the oil market where OPEC members reached an agreement to cut production by 1.2mb/d. The announcement already triggered a rally in oil prices to US$54.1/b. The uptrend in the ASI…

Nigeria Third Quarter 2016 Trade Deficit Narrows on Currency Controls and Weaker FX Rate

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LAGOS (Capital Markets in Africa) – The National Bureau of Statistics (NBS) released Q3: 2016 Foreign Trade Statistics on 1st December 2016. The report showed Q-o-Q improvement in trade deficit which narrowed to the lowest in 2016 as an impact of the weaker exchange rate in the period inflated exports data (reported in Naira) while currency controls pared growth in imports. Trade deficit improved 78.5% Q-o-Q to N104.1bn from N484.2bn in Q2:2016 while Merchandise trade (sum…

SimbaPay launches mobile money transfer service to Ghana and Uganda

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LONDON, United Kingdom, December 5, 2016/ — SimbaPay (www.SimbaPay.com) – a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will…

New F5 software advances application security, management, and orchestration

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JOHANNESBURG (Capital Markets in Africa) – F5 Networks’ software-based solutions that enable customers to seamlessly integrate availability and security services, simplify device management, and better orchestrate IT infrastructure are now available in more than 20 African countries from value-added distributor, Networks Unlimited. To lower costs and boost efficiency, organisations are evolving toward more dynamic infrastructure models that combine physical, virtual, and cloud components. Supporting this transition, F5’s innovative, versatile solutions give customers the ability to…

Egypt’s Banque Misr seeks central bank-guaranteed syndicated loan

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biggest lenders by assets, is raising a five-year syndicated loan guaranteed by the country’s central bank, sources close to the situation said. The bank has mandated ADIB Capital and Credit Suisse to arrange the transaction, which was launched to syndication in the second half of November. ADIB Capital is the investment banking arm of Abu Dhabi Islamic Bank’s Egyptian subsidiary. The loan, an amortising facility, is expected to be about $350 million and offers a…

Morocco’s economy is diversified and resilient, IMF Says

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CASABLANCA (Capital Markets in Africa) – An International Monetary Fund (IMF) staff team led by Nicolas Blancher visited Morocco from November 16 to December 1, 2016, to conduct discussions with the Moroccan authorities on the 2016 Article IV consultation, as well as on the first review under the Precautionary and Liquidity Line (PLL) arrangement approved in July 2016. The discussions focused on increasing the resilience and the potential of the Moroccan economy. At the conclusion…

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