The Editorial Team |

Angola’s Central Bank Maintains Rates on stable inflation in April 2016

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) held a meeting on 29 April 2016, decided to maintained the Basic Interest Rate at 14.oo%, BNA said in a statement on its website on Thursday. In addition, the central bank left the standing lending facility rate at 16% and kept the overnight standing liquidity absorption facility rate at 2.25%. In March 2016, the monthly inflation…

Tanzania Plans Foreign Loans in Next Fiscal Year, Ndulu Says

Posted on by The Editorial Team

Dar es Salaam, Tanzania, Capital Markets in Africa: Tanzania plans to borrow offshore in the next fiscal year, central bank Governor Benno Ndulu said. “We will be guided by what’s needed and what is reasonable in the market to do,” Ndulu said in an interview Wednesday at the World Economic Forum on Africa in the Rwandan capital, Kigali. The “firm numbers will still come out. If it’s a Eurobond, typically you cannot issue less than $500 million.” The…

Kenyan Central Bank Has `Room to Adjust’ Tight Monetary Policy

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: Kenya’s central bank has room to adjust interest rates in East Africa’s biggest economy as inflation falls back within the government’s target range, Governor Patrick Njoroge said. “One can say comfortably that there is room to adjust from the tight monetary stance that was there,” Njoroge said in an interview Thursday at the World Economic Forum on Africa in the Rwandan capital, Kigali. “I think that it is a decision that the…

Commodity Rout Hits Home as South Africa Has Record Output Drop

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s mining production fell the most since at least 1980 after the country’s biggest gold and platinum mines halted unprofitable output. Production declined 18 percent in March from a year earlier, accelerating February’s revised contraction of 8.3 percent, Statistics South Africa spokesman Juan-Pierre Terblanche said by phone Thursday. Expectations were for a drop of 12 percent, according to a Bloomberg survey of eight analysts. “This is a radical structural shift for…

Investment | Africa Investors Look East as Commodity-Driven Boom Withers

Posted on by The Editorial Team

LAGOS, Nigeria. Capital Markets in Africa: Investors targeting Africa are looking east, as depressed commodity prices and slowing growth in China put the brakes on a two-decade growth surge in the world’s poorest continent. Kenya, Tanzania and host Rwanda are the countries in vogue at the World Economic Forum’s annual confab of Africa’s business and political leaders that began Wednesday in Kigali. All three economies should expand at least 6 percent this year, double the…

South African economy not the second largest in Africa anymore

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: New data from the International Monetary Fund shows that Egypt is now Africa’s second largest economy after Nigeria, pushing South Africa into third place, according to a KPMG on Wednesday (May 11). South Africa has been known as the continent’s second-largest economy since Nigeria rebased its gross domestic product (GDP) data in early 2014. However, the IMF World Economic Outlook (WEO) released in mid-April provided more sobering GDP statistics for…

Fixed Income | Investec Sees South African Bonds as Resilient in Junk Downgrade

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s corporate bond market is better equipped than other emerging countries to deal with a cut in the nation’s credit rating to below investment grade, said Hendrik du Toit, chief executive officer of Investec Asset Management Ltd. The country has a relatively small pool of dollar bonds, compared with rand-denominated debt, and a large domestic money management business with the capacity to invest in the assets, Du Toit…

« 1 … 910 911 912 913 914 … 1,076 »