The Editorial Team |

Citi Makes a Clarion Call for Commodity Bulls With 2017 View

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…

Private Equity: Synergy Capital Managers invests in MSY Analytics Group

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LAGOS (Capital Markets in Africa) – Synergy Private Equity Fund (SPEF) is pleased to announce the completion of its investment in MSY Analytics Group (MSY), a technology driven professional services and data analytics company focused on increasing corporate human capital productivity and organizational positioning. The Company currently operates in Nigeria with a plan to roll out across the African continent. MSY is focused on creating value for companies, organizations and Institutions by collecting, analyzing, synthesizing…

In Turbulent Region, Stable Ghana Heads for Tight Election

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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…

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