The Editorial Team |

Nigeria Surprisingly Raises Benchmark Interest Rate to 12%

LAGOS, Nigeria, Capital Markets in Africa – Nigeria’s central bank Monetary Policy Committee (MPC) hikes the policy rate by 100 basis points to 12 percent after lowering it from a record 13 percent in November 2015 and kept it in January 2016, Governor Godwin Emefiele informed reporters on Tuesday in Abuja, the capital. The cash-reserve ratio was also increased to 22.5% from 20%, the Governor said. Nigeria’s inflation rate rose to 11.4% in February from a year…

Nigeria | The Inflation Conundrum …

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LAGOS, Nigeria, Capital Markets in Africa — The inflation figure for the month of February was recently released by the National Bureau of Statistics. As much as the increase was largely anticipated, the huge gallop to 11.4% came as a surprise as consensus had capped the rise at 10%YoY. The increase in the headline figure was attributed to faster increases in prices across all major divisions except Restaurant and Hotels division. The Food and Core…

Central Bank of Kenya keeps interest rate at 11.50% in March

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NAIROBI, Kenya, Capital Markets in Africa — The Monetary Policy Committee (MPC) met on March 21, 2016 to review market developments and the impact of its previous monetary policy decisions. The MPC decided to retain the Central Bank Rate (CBR) at its current level of 11.5 percent, to continue to anchor inflation expectations and enhance the credibility of its policy stance. The Bank noted that month-on-month overall inflation fell to 6.8 percent in February 2016,…

Nigerian Equity Markets | 21 Mar 2016: Positive Streak Extends to 3rd Consecutive Day…NSE ASI up 81bps

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LAGOS, Nigeria, Capital Markets in Africa –— The Nigerian Equities market started the week on a positive note, extending the streak of gains in the benchmark index to the third consecutive trading day. Despite the general negative sentiments, investors still see value in some Bellwethers trading at attractive entry prices. Consequently, the All Share Index improved 0.8% to close at 25,902.95 points. Bargain hunting in GUARANTY (+4.5%), ZENITH (+3.1%) and DANGCEM (+1.8%) lifted the market into…

Sterling Bank Plc 2015 FY: Sustained Positive Momentum Amidst Harsh Operating Environment

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LAGOS, Nigeria, Capital Markets in Africa — Sterling Bank Plc (“Sterling” or “the Bank”) today (March 21, 2016) published its audited FY:2015 result on the floor of the Nigerian Bourse recording positive growth in both top and bottom lines and the first Tier-2 Bank to publish its FY:2015 earnings. We present the highlights of the result and our FY:2016 estimates. Gross Earnings up 6.3% Y-o-Y…Lifted by Non-interest incomeSterling sustained its fine form since the acquisition…

AXA Mansard Plc 2015 FY: Claims incurred on Life Pressures PAT

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LAGOS, Nigeria, Capital Markets in Africa — AXA Mansard Plc (“Mansard” or “The Company”) published its audited FY: 2015 result on March 17, 2016, on the floor of the Nigerian Stock Exchange (NSE). The Company recorded a decline in Gross Premium Written (GPW), however, Gross Premium Earned (GPE) and Profit after Tax stayed positive. We present the highlights of the result and our FY: 2016 estimates. GPW declined 4.7% Y-o-Y but GPE Rose 12.7% Y-o-Y…

Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

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Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange witnessed positive return at the end of Monday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went up 1.21 percent to end at 9,409.94 points (with a year-to-date performance to 5.43 percent) with total market capitalization at MAD 471.621 billion (a fall of MAD 4.84 billion or US$28 million relative to previous market capitalization of MAD 466.778). The market activity measured as total…

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