The Editorial Team |

Barclays considers scaling back in Africa —- FT

LAGOS, Nigeria, Capital Markets in Africa — New Barclays Chief Executive Jes Staley is considering selling some or all of the British bank’s African operations as part of his strategic review, the Financial Times said. Staley has raised questions about the strategic fit of the large African business with the rest of Barclays, but no decision has been taken yet, the FT said on Wednesday, citing people familiar with the matter. Barclays declined to comment….

Mozambique to limit use of Credit/Debit Card Abroad to US$13,600

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MAPUTO, Mozambique, Capital Markets in Africa — The Bank of Mozambique has set an annual limit of 700,000 meticais (about US$13,600) for payments abroad using a credit or debit card issued by a Mozambican bank. The governor of the central bank, Ernesto Gove, had warned on Nov 30 that large sums of money were leaving the country through the unrestrained use of bank cards abroad, and that this type of spending had risen dramatically. The metical…

Bank of Africa Plans Mali’s First Listing on BRVM Bourse

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Bamako, MALI, Capital Markets in Africa — Groupe Bank of Africa’s Mali office plans an initial public offering on the Bourse Regionale des Valeurs Mobilieres (BRVM) which would make it the first company from the West African nation to be listed on the Abidjan-based regional exchange. The bank, a subsidiary of Morocco’s BMCE Bank Group, will offer 400,000 shares on the BRVM from 17 December 2015 to 15 January 2016, it said in a statement published on Tuesday in the state-owned…

African Economies Vulnerability to US Fed rate hike … Ghana the most vulnerable

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LONDON, Capital Markets in Africa — Monetary policymakers as well as market analysts routinely cite tightening by the US Federal Reserve among risks to macroeconomic stability. In 2015, the US Federal Reserve has been a major source of uncertainty for the global economy but the markets now expect a rate rise at the Federal Open Market Committee meeting on 15-16 December 2015. Beyond this, rates are expected to follow a gradual upwards path throughout 2016. An important…

Mozambique central bank further tighten, raises rate to curb inflation

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MAPUTO, Mozambique, Capital Markets in Africa — Mozambique’s central bank raised its benchmark policy rate to the highest in three years to help curb inflation and manage the metical, which exceeded forecasts and would impact the objectives for 2015 and 2016. Bank of Mozambique raised the benchmark standing facility rate by 150 basis points to 9.75 percent, the Maputo-based institution said in an e-mailed statement on Monday. The bank, which has now hiked its policy rate by 225…

Excitement over “People Power” in Africa will not continue in 2016 — Control Risk

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NAIROBI, Kenya, Capital Markets in Africa — People power witnessed in 2014 and 2015, for example in changes of government in Burkina Faso and Nigeria, will be proved limited in 2016. A combination of elections, constitutional pressures and financial difficulties will test governments across the region, including in Chad, Uganda, Congo (Brazzaville), Angola and South Africa. Incumbents will however retain their hold on power. These are some of the key messages of RiskMap 2016, published…

Botswana’s A2 government bond rating is affirmed; outlook stable — Moody’s

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Gaborone, Botswana, Capital Markets in Africa — Moody’s Investors Service (“Moody’s”) has today affirmed Botswana’s A2 government bond and issuer ratings. The outlook remains stable. Botswana’s local currency bond and deposit ceilings remain at Aa3, foreign currency deposit ceiling at A2/P-1, and foreign-currency bond ceiling at Aa3/P-1, unchanged. The key factors for affirming the A2 rating and maintaining the stable outlook are: Fiscal Resilience Supported by large assets and low debt: The first factor underpinning…

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