The Editorial Team |

South Africa’s GDP grew by a modest 1.3% in 2015

Johannesburg, South Africa, Capital Markets in Africa — In the final quarter of 2015, South Africa GDP rose by a very modest 0.6%q/q, annualised (seasonally adjusted). This compares with growth of 0.7%q/q in Q3 2015, 1.3%q/q in Q2 and 2.2%q/q in the first quarter of 2015. The latest GDP performance was slightly below market expectations, which was for growth of 0.9%q/q (STANLIB 0.9%q/q). Over the past year to Q4 2015, SA GDP rose by a…

Africa Internet Group, parent of Jumia, secures over €300M funding

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LAGOS, Nigeria, Capital Markets in Africa —- Africa Internet Group, the parent company of Jumia the online retailer, has secured over €300M in funding. This new round of investment is led by existing investors including MTN and Rocket Internet as well as a new investor, Goldman Sachs. In a statement, AIG said that the funds will significantly strengthen its balance sheet, enabling the company to leverage the significant growth of Jumia and to capitalise on…

Actis agrees to sell Emerging Markets Payments

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CAIRO, Egypt, Capital Markets in Africa — Actis, a leading growth markets investor, today confirmed an agreement to sell Emerging Markets Payments (‘EMP’), the leading Africa and Middle East payments business, to Network International. The transaction is subject to regulatory approvals. Actis established EMP in July 2010 as a ‘buy and build’ platform, to capitalise on increasing demand for payments infrastructure in Africa and the Middle East. EMP today has the broadest footprint of any…

INTO AFRICA: African Economic Outlook in 2016

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LAGOS, Nigeria, Capital Markets in Africa — In 2015, Africa experienced its slowest economic growth rate since the 1998 global financial crisis. The Sub-Saharan Africa real GDP growth fell from 5.0 percent in 2014 to 3.75 percent in 2015 (IMF’s estimates). The downside risks in 2015 (low commodity prices, a slowing in China’s growth and uncertainty in the level of USA’s real growth rate) are expected to spill-over to 2016 but with reduced impact. As…

Angola’s central bank leaves key interest rate unchanged at 12% in February

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Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) kept the Basic Interest Rate unchanged at 12.00 percent, to maintain price stability, and taking into account the economic outlook. In addition, the Interest Rate Standing Facility Liquidity Lending and the Interest Rate Standing Facility Liquidity Absorption to seven days remained unchanged at 14.00 percent and 1.75 percent respectively, the BNA stated in the press release. Regarding evolution of…

AfDB priced 1.125% US$ 1.0 Billion Benchmark due 4 March 2019

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LAGOS, Nigeria, Capital Markets in Africa — African Development Bank (AfDB), has successfully priced a US$1 billion 1.125% 3-year USD Global benchmark due on 4th March 2019. This transaction is AfDB’s first US$ Global benchmark outing of 2016, following a successful inaugural US$ 650 million Floating Rate Note (FRN) issued at the end of January. The Bank, is taking advantage of a clear issuance window after a period of relative market stability, the mandate…

Nigerian Equity Markets | 24 Feb 2016: Equities Slide on Banking Stocks Rout… NSE ASI sheds 0.9%

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Lagos, Nigeria, Capital Markets in Africa —The Nigerian bourse closed southwards to extend losses to the 3rd trading session amid sell-offs in banking and consumer goods bellwethers. The All Share Index declined 0.9% settling at 23,883.34 points. The negative market performance was broadly driven by price depreciation in GUARANTY (-3.8%), ZENITH (-5.0%) and GUINNESS (-5.0%). The market lost N68.4bn in value as market capitalization reduced to N8.2tn. Activity level was mixed as volume grew 33.6% while value traded dipped 3.3% to…

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