The Editorial Team |

Zambia’s World-Beating Kwacha Shows Copper Can Outshine Gold

LUSAKA, Zambia, Capital Markets in Africa — Zambia’s kwacha has gone from the world’s third-worst performance in 2015 to the best this year, outshining gold, silver and 150 other other currencies and precious metals tracked by Bloomberg. Further gains are in store as copper prices recover, according to ETM Analytics. The currency of Africa’s second-biggest copper producer has advanced 19.9 percent against the dollar in 2016, surpassing gold’s 16.3 percent gain, after slumping 42 percent in 2015….

Ghana’s Inflation Rate touches over-six-year high at 19.2% in March

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Accra, Ghana, Capital Markets in Africa — The outlook for achieving the Bank of Ghana’s medium term inflation target (8% ± 2%) could shift further into late 2017 (from the projected mid-2017) as inflationary pressures remain elevated on the back of high cost-push factors. The year-on-year increase in Ghana’s Consumer Price Index (CPI) shocked expectations with a 70bps surge to 19.2% in Mar-2016. Consequently, average y/y price inflation in Q1-2016 (18.9%) turned out 130bps higher…

Africa’s Economic Growth Slashes AMIDST Global Economic Weakness

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LAGOS, Nigeria, Capital Markets in Africa — Amid falling commodity prices and continuing weakness in global growth, Sub-Saharan Africa’s gross domestic product (GDP) growth decelerated to an estimated 3.0% in 2015 from 4.5% in 2014, according to the latest World Bank projections. This low pace of growth, which translates into an increase in the region’s GDP per capita of less than 0.5%, was last seen in 2009 following the global financial crisis, and contrasts sharply…

Private Equity | Mediterrania Capital Partners enters the retail clothing business in the Maghreb region

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Tunis, Tunisia, Capital Markets in Africa: Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces the acquisition through its second fund (“MC II”) and alongside Euromena III (the latest of the Euromena Funds), of a minority stake in BS Invest in Tunisia, CAP Retail in Morocco, and Investex Algérie in Algeria (the “Group”).Founded in 1997 by Koraich Ben Salem, the Group distributes 11 leading…

Nigerian MSCI Exit May Risk $500 Million Holdings, RenCap Says

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Lagos, Nigeria, Capital Markets in Africa — MSCI Inc.’s decision to consider dropping Nigeria from its Frontier Markets Index has put $500 million of stock investments in Africa’s biggest economy under threat, according to Renaissance Capital Ltd. Investors following the index have $500 million staked in Nigeria, half what they would have if they were properly tracking the benchmark, and those holdings are “under threat” should MSCI exclude Nigeria, according to Charles Robertson, chief economist at…

IMF Sees Rwanda’s Cautious Monetary Policy Keeping Growth at 6%

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Kigali, Rwanda, Capital Markets in Africa — GDP expanded 6.9% in 2015, International Monetary Fund says in e-mailed statement. The fund also, advised that more immediate measures needed to deflate external pressures, stem drop in forex reserves. The Brookings Institute commends Rwanda’s implementation of more cautious monetary policy, postponement of some non-priority public spending to help dampen still-strong demand for imports as well as allowing exchange rate to continue to adjust as necessary will be…

Angolan Central Bank Lowers Kwanza Rate Against Dollar, Euro

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Luanda, Angola, Capital Markets in Africa — Angola’s central bank weakened the official exchange rate of the kwanza to 163.703 per dollar from 161.468 and to 182.905 per euro from 180.408, according to data published on regulator’s website. Kwanza -17.5% vs USD this year, worst performer among 23 African currencies.

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