The Editorial Team |

MTN agrees to Pay US$25mn toward record US$3.9bn Nigeria Fine

LAGOS, Nigeria, Capital Markets in Africa — MTN Group Limited, Africa’s largest mobile-phone company, agreed to pay 50 billion nairas (US$251 million) toward a record US$3.9 billion fine in Nigeria for missing a deadline to disconnect unregistered subscribers. The payment to the Nigerian government was made “on the basis that this will be applied toward a settlement, where one is eventually, hopefully, arrived at,” the Johannesburg-based company said in a statement on Wednesday. MTN also agreed to…

Foreign Investors Net Buyers of South African Shares and Bonds

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Johannesburg, South Africa, Capital Markets in Africa — Foreign Investors net buyers of South African shares and bonds on February 16, according to the figures released by Johannesburg Stock Exchange Limited, South Africa. However, on a year to date basis foreign investors re net seller. The table below shows the trade statistics. The values are in billions of South African Rand, month to date and year to date figure include purchases and sales until end of…

Bank of Namibia hikes Repo to 6.75 percent, amid inflation pressure and currency depreciation

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Windhoek, Namibia, Capital Markets in Africa — Bank of Namibia raised the Repurchase (Repo) rate by 25 basis points to 6.75 percent at the Bank of Namibia’s Monetary Policy Committee (MPC) meeting held on the Tuesday 16 February 2016, Bank of Namibia Governor Ipumbu Shiimi said in a press release. The Governor said the rate hike is to align interest rates within the Common Monetary Area which includes South Africa. This is intended to avoid possible capital…

Botswana’s central bank retains rate at 65, inflation falls to 2.7% …

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Gaborone, Botswana, Capital Markets in Africa — Bank of Botswana retains the Bank Rate at 6.0 percent at the meeting of the Monetary Policy Committee (MPC) held on Wednesday, 17 February 2016, Bank of Botswana said in a statement on its website. The Bank’s decision is aligned with the need to safeguard financial stability, to sustain credit growth and to maintain financial stability. In addition, Botswana’s GDP growth is estimated at 1.2 percent in the…

Bank of Mozambique hikes benchmark interest rates

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MAPUTO, Mozambique, Capital Markets in Africa — The Bank of Mozambique has decided to increase key interest rates, and the marginal lending facility was increased by 100 basis points to 10.75 percent and the deposit facility by 50 basis points to 4.25 percent, the central bank said in a statement released after the Bank’s Monetary Policy Committee on Monday. This is the highest interest the Bank of Mozambique has charged since September 2012. The rate…

Bank of Uganda retains central bank rate at 17 percent in February

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KAMPALA, Uganda, Capital Markets in Africa —Uganda’s central bank kept the Central Bank Rate (CBR) at 17 percent on Wednesday, saying inflation outlook has improved slightly, mainly duly to the exchange rate, according to the Monetary Policy Committee (MPC) Statement for February 2016 signed by Professor Emmanuel Tumusiime-Mutebile, Governor Bank of Uganda. The MPC believes that the decision to keep the CBR will curb the rise on core inflation over the next two or three quarters and…

Angola’s Credit Rating Downgraded by S&P After Oil Price Drop, Stable Outlook

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Luanda, Angola, Capital Markets in Africa — Standard & Poor’s Ratings Services lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Angola to ‘B+/B’ from ‘BB-/B’ with stable outlook. Also, S&P lowered Angola’s transfer and convertibility assessment to ‘B+’ from ‘BB-‘. Standard & Poor’s downgraded Angola’s credit rating to B after a decline in oil prices curbed government revenue. This downgrade putting the nation’s debt five levels below investment grade….

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