The Editorial Team |

Africa’s Economic Growth: It’s Not All Doom and Gloom

LAGOS (Capital Markets in Africa) – Angola unveils $44 billion 2017 budget, sees economic growth of 2.1 percent. Angola, which has been hard hit by depressed oil prices, on Friday unveiled a 2017 budget of 7.3 trillion kwanza ($44.22 billion) with a budget deficit of 5.9 percent of gross domestic product. Aia–Eza Silva, the budget state secretary, told reporters the budget forecasts sub-Saharan Africa’s third-largest economy to grow 2.1 percent next year compared with estimates…

INTO AFRICA November Edition: Spotlight on Africa’s Real Estate

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to the November edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. In this edition, we bring a selection of insights on Real Estate and Property Investment prospects and challenges in Africa. Please download by clicking: INTO AFRICA PUBLICATION: NOVEMBER EDITION. Macroeconomic pressures continue to bear on economies in the African region. Low commodity prices, slowing global demand and uncertainty in the FX markets as well as weakening GDP…

South Africa’s big four banks to see rise in problem loans – Moody’s

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s big four banks will see a rise in problem loans in the next 12 to 18 months as the economy struggles to grow, but this poses only a moderate risk to profits, ratings agency Moody’s said on Tuesday. Sluggish economic growth, forecast by the government to average 0.5 percent this year, will pose challenges for FirstRand, Standard Bank, Barclays Africa Group and Nedbank. “The subdued South African…

Egypt’s budget deficit narrows in first quarter

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CAIRO (Capital Markets in Africa) – Egypt’s budget deficit in the first quarter of 2016/17 narrowed to 2.4 percent from 2.8 percent in the same period a year earlier, two government sources told Reuters on Tuesday. “The total deficit for the first quarter of the year was around 76.816 billion Egyptian pounds ($4.47 billion) from 78.280 billion a year earlier,” one of the sources said. Egypt’s financial year starts in July. Both sources said the…

South African pension fund seeks central bank approval to increase Barclays Africa stake

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JOHANNESBURG (Capital Markets in Africa) – Africa’s biggest pension fund, Public Investment Corporation, has sought approval from South Africa’s central bank to raise its stake in Barclays Africa, two sources with direct knowledge of the matter said. Barclays Africa’s parent, Barclays Plc, wants to reduce its holding to below 20 percent, which would make it an equity investment rather than a subsidiary. The plan is part of a broader sale by the British bank of…

Newly floated Egyptian pound moves little as interbank trading begins

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CAIRO (Capital Markets in Africa) – Egypt’s pound was almost steady early on Sunday as banks began trading freely for the first time since authorities ditched the currency’s peg in a policy shift designed to crush a black market and clinch an International Monetary Fund loan. Interbank trading began at 1030 a.m. (0830 GMT) but activity was extremely slow because banks were uncertain about the propects for supply and demand of U.S. dollars. The pound…

Nigeria Capital Markets Update Week Ending Nov 04 2016

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Equities Market Review and Outlook Sentiments in the Nigerian equities market remained bearish during the week amid an influx of unimpressive Q3:2016 earnings releases as the All Share Index (ASI) slid 1.1% W-o-W while YTD loss worsened to -5.8%. Market capitalization contracted to N9.3tn as investors lost a total of N86.4bn. On Monday, the market halted its 3-day gaining streak, ending the month of October on a negative note, down 4.1% M-o-M. However, investors took…

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