The Editorial Team |

Nigeria | Unilever Nigeria Plc FY 2015 and Q1 2015 Earnings Update

LAGOS, Nigeria, Capital Markets in Africa — Unilever Nigeria Plc (“Unilever” or the “the Company”) remains one of the largest Fast Moving Consumer Goods (FMCG) Companies in Nigeria, with products, ranging from Knorr in the food stratum to Close up in the personal care division, which have more or less become household names. The Company remains the oldest surviving manufacturing organization in Nigeria. The company released its FY:2015 result in which turnover grew modestly by…

Central Bank of Egypt Keeps Policy Rate Unchanged at 10.75% in April

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CAIRO, Egypt, Capital Markets in Africa — In its meeting held on April 28, 2016, the Monetary Policy Committee (MPC) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation unchanged at 10.75 percent, 11.75 percent, and 11.25 percent, respectively. The discount rate was also kept unchanged at 11.25 percent. Annual headline CPI remained at around 9 percent in February and March 2016,…

S&P sees South Africa’s banks up against growing credit risks

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Johannesburg, South Africa, Capital Markets in Africa — South Africa’s banks will find it tougher to turn a profit as the economy remains feeble for the next few years and credit risks rise, credit ratings agency Standard & Poor’s said on Thursday. Consumers, squeezed by rising interest rates, unemployment of around 25 percent and high debt levels, are a growing headache for lenders in Africa’s most advanced economy which is forecast by the government to…

Ghana’s Economy Expanded at Slowest Pace in 20 Years in 2015

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CASABLANCA, Morocco, Capital Markets in Africa — The Moroccan central bank cut its benchmark interest rate on Tuesday for the first time since December 2014 in an attempt to stimulate an economy hurt by weak cereal production and non-agriculture activity. The Bank reduced the key rate by 25 basis points to 2.25 percent, Bank Al-Maghrib said in a statement. The central bank also lowered its growth forecast for this year to 1 percent from 3…

Nigeria | Dangote Cement Plc. Q1:2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — Dangote Cement Plc (“DANGCEM” or “the Group”) released its Q1:2016 result on Monday 25th April. Revenue growth was strong and broadly in-line with estimates at 22.2% Y-o-Y and 11.3% Q-o-Q to N140.5bn while PBT declined 22.3%Y-o-Y (to N54.5bn) against the backdrop of high base impact of FX Gains recorded in Q1:2015 on Naira devaluation, as well as weaker operating margins as a result of price competition in key…

Investment in Africa — Will the “Africa Rising” Story continue?

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LAGOS, Nigeria, Capital Markets in Africa — Low commodity prices, the worst drought in Southern Africa since 1982, on-going social unrest, the terrorism threat in East and West Africa – the list of doom and gloom scenarios for many African countries in 2016 is a long one. But what about positive stories around major urban development projects; M&A deal-making in Africa reaching new heights*; improved anti-corruption legislation and enforcement; or Ethiopia’s emergence as a major…

Nigeria | Dangote Sugar Refinery Plc Q1:2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — Dangote Sugar Refinery Plc (“DANGSUGAR” or “the Company” or “the Group”) published its Q1: 2016 results last week with the result showing an impressive performance for the period. Revenue for the Group was up 44.8% Y-o-Y to N32.6bn vs. N22.5bn in Q1:2015 on the back of increased sales volume and price increase which lifted the overall revenue for the Group. Cost restraint measures noticed across major operating cost…

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