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Kenyan Bourse Announces six Banks as Derivatives Clearing Members

Nairobi, Kenya, Capital Markets in Africa — Nairobi Securities Exchange (NSE) appointed six banks as derivative clearing member. They are: Barclays Bank of Kenya, Co-operative Bank of Kenya, CFC Stanbic Bank, NIC Bank, Chase Bank and Commercial Bank of Africa, according to email statement by NSE. The email also stated that more lenders to be named in “near future” and Initial derivatives products will be single-stock, index futures, before currency-based contracts are offered.

Malawi Central Bank Policy Interest Rate at 25% in February

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LILONGWE, Malawi, Capital Markets in Africa — Reserve Bank of Malawi Monetary Policy Committee (MPC) met on 4th February 2015 and decided to maintain the Policy Rate at 25 percent and Liquidity Reserve Requirement (LRR) at 15.5 percent, according to statement on the central bank website. The Bank estimated the country real GDP growth at 6.3 percent for 2014, largely driven by the agricultural sector. For 2015, economic growth was earlier projected at 5.8 percent,…

African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

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LAGOS, Nigeria, Capital Markets in Africa — Global equity markets opened 2016 on a panic mood amid of negative outlook on China’s growth prospects and commodity slumps. As a result, African equity market performance measured by country equity benchmark index returns ended in negative for the month, with four gainers and fourteen losers on the local currency basis. Still on local basis return, the January’s average return of -3.0 percent (relatively to -0.9 percent in…

AXA buys 8% stakes in Africa Internet Group at US$84 million …

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LAGOS, Nigeria, Capital Markets in Africa — French insurer AXA plans to invest 75 million euros (US$84 million) in Africa Internet Group (AIG), the owner of online retailer Jumia. AXA and AIG view Africa as a fast developing market for financial services and insurance products, benefiting from strong fundamentals such as low penetration rates, rise in middle class, urbanization as well as the youth of its population. The deal will give the AXA, an 8…

IFC Investment Boosts Egypt’s Energy Infrastructure, Port Sector

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Cairo, Egypt, Capital Markets in Africa —IFC, a member of the World Bank Group, is providing a financing package of $144 million to Sonker Bunkering Company, SAE, to help develop vital new energy infrastructure and boost the performance and competiveness of Egypt’s ports. IFC’s financing – including a loan of up to $70 million, $52 million mobilized from partners, and $22 million in mezzanine financing – will go toward the development of Egypt’s first private…

African Sovereign Eurobond January 2016: Ghana’s spreads widening, Nigeria’s narrowing …

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LAGOS, Nigeria, Capital Markets in Africa — Volatility and unexpected economic events shook markets at the beginning of 2016, questioning fundamentals of emerging markets. Generally, African Eurobond outlook is likely to worsen in 2016, due to commodity price slump, reduce revenue and pressure on currency. These forces will compel African governments to tap into international markets, so increase supply against limited liquidity may, hence means issuers will likely need to offer sizable new issuance premia…

Free Chicago Booth Executive MBA Online Masterclass

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Wednesday, February 24, 2016 at 04:00 PM until 05:00 PM GMT Standard Time. 16:00 GMTOnlineUnited Kingdom Rewarding Innovation – Can New Ideas Be Bought? Michael J. Gibbs, Clinical Professor of Economics Can creativity be motivated by rewards? This question is the subject of controversy among psychologists and economists. Prof Michael J. Gibbs, Clinical Professor of Economics, provides some new insights into this question by discussing his latest research on innovation at an Asian IT services…

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