The Editorial Team |

South Africa Inflation Near Top of Target Limits Policy Options

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s Monetary Policy Committee has little room to delay acting while inflation and price-growth expectations are hovering near the ceiling of its target range, according to the Reserve Bank. The contribution of monetary policy “is to prevent the temporary increase in specific prices from becoming a permanent acceleration in overall inflation,” the central bank said in its annual report for the year through March 2016, released on its website…

African Assets Slump as Brexit Vote Triggers Commodity Decline

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Currencies, stocks and bonds plunged across Africa after the U.K.’s vote to leave the European Union triggered a slump in oil and other commodities and sent investors scurrying for safe assets. South Africa’s benchmark share index fell the most since December 2008 on a closing basis, led by stocks with listings in London and by diversified mining companies. The rand dropped to a record against the yen and by the most…

Brexit Sparks Emerging-Market Selloff as Polish Assets Worst Hit

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Eastern Europe and South Africa led a selloff in developing-nation assets following Britain’s vote to leave the European Union as investors speculated their economies will be the worst affected by the fallout from Thursday’s referendum. Volatility in a gauge of currencies surged to the highest since March 2012 as Poland’s zloty tumbled the most in two months against the euro and the rand led emerging-market peers lower against the U.S. dollar. Benchmark stock…

Lekela commits to funding Taiba Ndiaye Wind Project

Posted on by The Editorial Team

SENEGAL, Capital Markets in Africa: Lekela Power, a joint venture between leading growth markets investor, Actis (USD$6.3bn funds under management) and global renewable energy developer, Mainstream Renewable Power (over 10,000 MW in development, construction and operations) announced the acquisition of co-development rights and sole rights to invest in the 158 MW Taiba Ndiaye Wind Project in Senegal. Lekela is a Pan-African renewable energy generation platform delivering utility scale wind and solar power in the region…

IFC and Ghana Stock Exchange Establish Partnership to Stimulate Capital Market Investment

Posted on by The Editorial Team

Accra, Ghana, Capital Markets in Africa: IFC, a member of the World Bank Group and the Ghana Stock Exchange today announced a partnership to promote the adoption of sound business practices within the capital market to support business expansion and boost economic growth. The partnership is one of the many interventions under the Africa Corporate Governance Program intended to improve business performance. It will also help raise awareness of the cross-sectorial reach of activities and…

Kenya Bourse Eyes Listings Rush as Commercial Lending Rates Soar

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: With commercial lending rates as high as 24 percent, more Kenyan companies are turning to the stock market to raise capital, according to Geoffrey Odundo, chief executive of the Nairobi Securities Exchange. Nairobi Business Ventures Ltd., a maker of leather shoes and accessories, sold shares on the exchange this week, and three other companies are lining up, including Deacons East Africa Plc, a homeware and clothing retailer, Odundo said…

Credit Ratings | Fitch Downgrades Nigeria to ‘B+’; Outlook Stable

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Fitch Ratings-Hong Kong-23 June 2016: Fitch Ratings has downgraded Nigeria’s Long-term foreign currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘ and Long-term local currency IDR to ‘BB-‘ from ‘BB’. The Outlooks are Stable. The issue ratings on Nigeria’s senior unsecured foreign-currency bonds have also been downgraded to ‘B+’ from ‘BB-‘. The Country Ceiling has been revised down to ‘B+’ from ‘BB-‘ and the Short-Term Foreign-Currency IDR affirmed at…

« 1 … 876 877 878 879 880 … 1,073 »