The Editorial Team |

How much will OPEC’s decision to cut 1.2 million b/d bolster oil price?

LAGOS (Capital Markets in Africa) – In what has been described as a ‘historic decision,’ OPEC member nations have agreed to cut production by 1.2 million barrels per day (b/d) for six months, beginning 1 January 2017. The group has stated that to rebalance the oil market, cuts are necessary not only from OPEC, but also from other key producers. OPEC stated that these non-OPEC producers can achieve at least 600,000 b/d in additional production cuts, with…

Mozambique bondholders call debt-restructuring deadline a “pipe dream”

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MAPUTO (Capital Markets in Africa) – Debt-ridden Mozambique has no chance of meeting its year-end deadline for a restructuring deal, according to investors who are preparing to dig in their heels until the country comes clear on what it owes and to whom. The southern African country, one of the world’s poorest, has seen its currency and investor confidence collapse since April, when the International Monetary Fund halted a loan after uncovering previously undisclosed debts that…

Nigerian Equity Markets | 5 Dec 2016: Equities Close Flat despite Sustained Rally in Oil & Gas Stocks… NSE ASI up 1bp

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LAGOS (Capital Markets in Africa) – The equities market closed flat today as a sustained rally in Oil & Gas stocks offset sell-offs in Industrial Goods and Banking equities. Consequently, the All Share Index gained a marginal 1bp to close at 25,743.03 points while market capitalisation added N758.6m to settle at N8.9tn; thus ensuring the rebound in equities which began last week after a prolonged period of intense sell pressure was sustained. The major buffers to…

World’s Biggest Financiers to Meet with Heads of Utilities and Project Developers in Dubai at the Growing Economies: Project Finance Forum on 23-24 January 2017

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Bringing Together Investors and Project Developers for Financing of Energy and Energy Related Infrastructure Projects in North, East and Southern Africa According to a recent EY report, despite current global uncertainties regarding growth prospects the longer-term outlook for economic growth and investment in Africa remains positive. African economies remain resilient, with two-thirds of sub-Saharan African (SSA) economies still growing at rates above the global average this year. In addition to this, North Africa remains at…

Nigeria- Morocco’s Cooperation Carries Immense Economic Prospects for West Africa

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LAGOS (Capital Markets in Africa) – The historical visit of Morocco’s Monarch to Nigeria highlighted the significance of the discussion between the two countries surrounding the construction of a gigantic pipeline, dubbed the Trans-African Pipeline. This joint effort to establish a strong economic collaboration paves the way for an excellent opportunity to make up for lost time to achieve the regional integration that is critical to addressing the real needs of Africans. The Trans-African Pipeline…

Citi Makes a Clarion Call for Commodity Bulls With 2017 View

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LAGOS (Capital Markets in Africa) – Citigroup Inc. has given a clarion call for commodity bulls, predicting that most raw materials are expected to perform strongly next year as global economic growth picks up, the oversupply that’s dogged markets finally dissipates and investors plow in more funds. The bank is bullish on oil, copper, zinc, and wheat on a six to 12-month horizon, with global growth seen at 2.7 percent from 2.5 percent in 2016, according to an e-mailed…

South Africa’s Escape From Junk Seen Short-Lived Without GDP Pickup

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s chances of repeating its escape from a junk credit rating in 2017 are in the balance as focus intensifies on tepid economic growth and simmering political tensions. S&P Global Ratings kept its assessment of the nation’s foreign-currency debt at one level above non-investment grade on Dec. 2. S&P’s affirmation followed a similar move by Fitch Ratings Ltd., while Moody’s Investors Service rates the debt one level higher. The reprieve may…

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