The Editorial Team |

Looking into 2016: A Change in Nigerian Market Sentiments, Signs to Watch

The Nigerian equities market has sustained a bearish run for most of 2015 as issues ranging from a fragile polity, foreign exchange restrictions, stifling monetary policy stance, weakening domestic growth and rising inflationary pressure have weighed in to weaken investor sentiment. While the victory of President Buhari at the polls boosted investor confidence between April and May, the five months of waiting before the eventual inauguration of the cabinet on 11th November 2015 has had a…

Actis invests in pan-African food retailer, Food Lovers’s Market

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Johannesburg, South Africa — Actis, an emerging market investor, today announced an investment of R760m (US$54m) in Food Lover’s Market, estimated to be the largest independent food retail group in Africa. Actis is acquiring a substantial minority stake in the business and backing founders Brian and Mike Coppin, together with the existing management team, who have created a remarkable success story based on a market leadership position in fresh produce retail. Food Lover’s Market is…

Zambia’s strong medium-term growth prospects tempered by fiscal and external credit challenges — Moody’s

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Lusaka, Zambia, Capital Markets in Africa — Zambia’s strong medium-term growth potential, political stability and responsive monetary policy support its credit profile, however the country faces challenges from its lack of credibility of fiscal policy, limited economic diversification as well as vulnerability to lower copper prices and China’s slowdown, Moody’s Investors Service said in a report titled “”Credit Analysis: Zambia” and published on Tuesday 3rd December 2015. “The stable outlook on Zambia’s rating balances near-term…

African exchanges need a platform for cooperation and the development of their capital markets — Karim Hajji, CEO, Casablanca Stock Exchange

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Karim Hajji, Chief Executive of the Casablanca Stock Exchange (CSE) gives an exclusive interview to Capital Markets in Africa and elaborates on aspects of Moroccan capital markets development and investment opportunities. He also spoke about the need to make African exchanges more liquid and advocated for African exchanges to strengthen their ties in order to create a platform for successful cooperation and to identify avenues for the development of their capital markets. The Casablanca Stock Exchange is one of…

Corruption on the rise in Africa, 75 million Africans pay a bribe …

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LAGOS, Nigeria, Capital Markets in Africa — A majority of Africans say corruption has risen in the past 12 months and most governments are seen as failing in their duty to stop the abuse of power, bribery, and secret deals, according to a new opinion poll from Transparency International. In the report People and Corruption: Africa Survey 2015, part of the Global Corruption Barometer, Transparency International partnered with Afrobarometer, which spoke to 43,143 respondents across…

IFC Invests in Egypt-based Sphinx Glass to Boost Manufacturing Sector

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Cairo, Egypt, Capital Markets in Africa — The International Finance Corporation (IFC), a member of the World Bank Group, is investing in a 20 percent equity stake in Egypt-based Sphinx Glass, to boost the glass manufacturing sector in the region, support the company’s expansion, and spur job creation and growth. Sphinx Glass is a subsidiary of Saudi-based Construction Products Holding Company (CPC). The IFC investment will enable Sphinx Glass to optimize production, improve its energy…

African Stock Market November 2015 Performance: Kenya’s equity gains 4.5%, EGX 30 Index 15.35% lower, Zambian kwacha returns 17.1%

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Lagos, Nigeria Capital Markets in Africa — African stock market performance measured by country equity benchmark index returns ended in negative for the month of November, with five gainers and thirteen losers on the local currency basis. Still on local basis return, the November’s average return of -3.0 percent (relatively to -0.9 percent in October) was recorded across eighteen African stock indices and November monthly returns range from -15.3 percent recorded by the Egyptian equity market (measured by Egyptian EGX 30…

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