The Editorial Team |

Nigeria Equities Market Review and Outlook Week Ending 14th October

LAGOS (Capital Markets in Africa) – Mixed sentiments trailed the Nigerian equities market this week amid expectations for weak Q3:2016 earnings results. The All Share Index (ASI) gained marginally on 3 trading sessions while declining on 2. Thus, the ASI inched 9bps higher W-o-W. YTD loss pared to 2.7% while market capitalization improved by N8.9bn to settle at N9.6tn. Activity level also improved as average volume and value rose 24.4% and 45.5% to 232.5m units…

Zimbabwe tax agency says local bank notes plan worsens liquidity

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HARARE (Capital Markets in Africa) – Zimbabwe’s tax agency on Friday said the planned introduction of local bank notes had brought uncertainty and worsened cash shortages as consumers hold onto their dollars. The Reserve Bank of Zimbabwe said last month “bond notes” would be introduced at the end of this month, raising fears of a return to a domestic currency abandoned in 2009 as hyperinflation soared out of control, leaving Zimbabweans using the U.S. dollar. Central…

Abraaj acquires stake in Sub-Saharan African urea fertiliser manufacturer

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LAGOS (Capital Markets in Africa) – The Abraaj Group (Abraaj or the Group), a leading investor operating in global growth markets, today announced that it has acquired a minority stake in Indorama Fertilizers B.V. (Indorama Fertilizers), the largest urea fertilizer manufacturer in Sub-Saharan Africa, through its Funds. The stake was purchased from Indorama Holdings B.V. Netherlands, a wholly owned subsidiary of Indorama Corporation (Indorama), one of the world’s fastest growing petrochemical companies with operations in…

Investment Philosophy | Good Growth Hunting with Long-term Thinking

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LAGOS (Capital Markets in Africa) – Companies that have the ability to re-invest capital for growth over long periods of time, while still generating great returns, are well worth the hunt. The incremental compounding of shareholders’ wealth that results from effectively re-investing in growth can generate spectacular returns for long-term investors. However, growth alone is not enough; it needs to be ‘good growth’ that increases per share value for investors. A fast growing company often…

De-Risking in Africa is on the risk according to latest Swift data

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LAGOS (Capital Markets in Africa) – The latest SWIFT data shows that many countries in Africa have seen a reduction in the number of foreign counterparties, the overseas banks with which African banks transact. The data was part of a new report looking at the impact of global regulations on correspondent banking networks, called ‘Addressing the unintended consequences of de-risking – Focus on Africa’, which was released at the SWIFT Business Forum South Africa, in…

FIX Technology: Three Years on the Nigerian Capital Markets

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LAGOS (Capital Markets in Africa) – Any analysis of Frontier markets will, inevitably, underline the role of technology and best-in-class operational processes and establish them as key drivers to moving a market from “frontier” to an “emerging markets” classification. Enabling technology and transparent efficient processes are, therefore, essential ingredients for these markets to achieve their full potential; serving both a national need for developmental capital and wealth creation, as well as an international need for…

Implementing an IFRS 9 Solution: Challenges Faced by Financial Institutions

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Background IFRS 9 is a new international standard set forth to address the weaknesses of IAS 39. This article provides an overview of the new standard and analyzes the major challenges financial institutions will face in ensuring compliance. While there is still uncertainty in terms of implementation approaches, we believe IFRS 9 adoption will lead to a more efficient and lower-risk financial system. As part of the response to the last financial crisis, the International…

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