The Editorial Team |

Pre-MPC Note: Blunted Policy Tools Call for Rollback of Administrative Measures

LAGOS (Capital Markets in Africa) – Next week Monday and Tuesday (21st and 22nd November), the Monetary Policy Committee (MPC) of the CBN will be holding its 6th and last meeting in 2017 to review major developments in the global and domestic space in order to make vital policy decisions. Since the last MPC meeting held in September, the global risk landscape and policy outlook have changed dramatically, underlined by the emergence of Donald Trump…

Nigeria Capital Markets Update Week Ending Nov 18 2016

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Equities Market Review and Outlook The bearish trend in the local bourse was unrelenting this week in continuation of last week’s performance as the equities market closed in the red on all trading days owing to negative sentiment towards large cap stocks across sectors. Accordingly, the All Share Index (ASI) fell 2.4% W-o-W to settle at 25,537.54 points whilst YTD return worsened to -10.8%. Market capitalization also contracted N218.1bn to close at N8.8tn. The benchmark…

Nigeria needs billions in new investment to raise oil output, producer says

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LAGOS (Reuters) – Nigeria needs at least $14 billion a year in new investment over the next five years to raise oil output to 2.2 million barrels a day (bpd) and even higher spending to lift it to 3 million bpd, the head of a company producing oil in the country said. Ladi Bada, chief executive of Shoreline Natural Resources, a joint venture with oil and gas interests in southern Nigeria, estimated that about $9 billion…

Egypt Central Bank keeps key interest rates unchanged at MPC meeting

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CAIRO (Capital Markets in Africa) – Egypt’s central bank kept its key interest rates unchanged on Thursday in a meeting of its Monetary Policy Committee, it said in a statement, two weeks after it surprised markets with a 3 percent hike in its key rates. The bank kept its overnight deposit rate at 14.75 percent and its overnight lending rate at 15.75 percent, it said in a statement, meeting expectations of all 15 respondents in a…

Nigerian Equity Markets | 17 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

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LAGOS (Capital Markets in Africa) – The Equities market recorded a loss for the 5th consecutive session at the end of trading today as the All Share Index (ASI) pared 0.2% to settle at 25,599.79 points, bringing YTD loss to 10.6%. Sell pressure on NIGERIAN BREWERIES (-0.6%), FORTE (-5.0%), TOTAL (-4.8%) and GUARANTY (-0.7%) dragged market performance as investors lost N18.4bn bringing market capitalization to N8.7tn. Activity stayed mixed as volume traded rose 10.9% to 161.6m…

CMA and IFC in improving corporate governance practices in Rwanda

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KIGALI (Capital Markets in Africa) – The Capital Market Authority (CMA) in partnership with International Finance Corporation (IFC), a member of the World Bank Group host a breakfast meeting themed “Corporate Governance; the pathway to sustainable business growth in Rwanda” on Wednesday, November 16th , 2016 to raise awareness on issues related to Corporate Governance as a sustainable driver of business growth. Good corporate governance practices will attract investors to emerging markets’ businesses and address…

Nigerian Equity Markets | 16 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

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LAGOS (Capital Markets in Africa) – The bearish sentiment in the Nigerian bourse continued as sustained sell-offs in bellwether equities dragged the index down 0.8% to berth at 25,653.14 points (a 25-week low) whilst YTD loss worsened to -10.4%. Bearish sentiment towards NESTLE (-1.8%), GUARANTY (-1.8%), and FORTE (-7.4%) impacted market performance as investors lost N70.2bn in value, bringing market capitalization down to N8.8tn. However, activity level remained mixed as volume traded dipped 23.2% to…

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