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Nigerian Equity Markets | 17 Nov 2015: Equity Market Continues Slippery Slide Downhill…NSE ASI down 64bps

Lagos, Nigeria, Capital Markets in Africa — The bearish sentiment in the Nigerian Bourse continued as sustained sell-offs drove the All Share Index down 0.6% to berth at 28,351.28 points. The negative performance today was broadly driven by losses in FBNH (-7.5%), GUINNESS (-5.0%) and NIGERIAN BREWERIES (-2.4%) even as market capitalization fell N62.4bn to N9.7tn. Activity level in the market was mixed today as volume traded dipped 35.7% to130.0m units while value traded appreciated 129.2%…

Nigerian banks to remain resilient despite elevated credit risks from deteriorating operating environment — Moody’s

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Lagos, Nigeria, Capital Markets in Africa — Moody’s Investors Service expects Nigerian banks’ non-performing loans to rise in 2016, driven by the deteriorating repayment capacity of borrowers in the oil and gas sector, although their profitability will remain sufficient to absorb related provisioning needs, as indicated in the report, “Banking System Overview: Nigeria” written by Moody’s analysts Akintunde Majekodunmi and Peter Mushangwe. As a reflection of lower oil prices that will continue to constrain fiscal…

Nigeria Finance Minister Says Raising Non-Oil Revenue is the Priority

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Lagos, Nigeria, Capital Markets in Nigeria — Government plans more stricter enforcement of revenue collection from federal agencies, state-owned companies, Finance Minister Kemi Adeosun tells Financial Times in interview. Other key highlights of the interview are: — Dominance of oil has led to Nigeria ignoring collection of revenue elsewhere in economy, allowed government to be “extravagant” on some spending — Pare down the costs of running government ministries through simple cost-saving measures such as…

Kenya holds Lending Rate Unchanged at 11.5% as Kenyan Shilling Stabilizes, Inflation Ease …

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Nairobi, Kenya, Capital Market in Africa — The Central Bank of Kenya (CBK) kept its key Central Bank Rate (CBR) unchanged as the Kenyan shilling stabilized against the US dollar and easing pressure on inflation, according to the statement signed by Governor Patrick Njoroge. The Monetary Policy Committee retained the lending interest rate for a third consecutive meeting at 11.5 percent after an increase of 150 basis points each in June and July to cushion the effect of Kenya…

Egypt Equity Markets | 17 Nov 2015: Egyptian Equity in the negative, Banking sector index 2.23% down …

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Cairo, Egypt, Capital Markets in Africa — Egyptian Exchange equity trading ended in the negative zone as both the indices and market capitalization closed lower. The equity market capitalization shed off about EGP 1.38 billion (nearly US$230 million) to end at EGP 417.466 billion from EGP 419.269 billion recorded at the previous day trading session. The benchmark index EGX30 slid by 73.32 points or 1.13 percent to end 6,407.33 points. The equal-weighted indexes EGX50 slumped by 0.61 percent or…

Mauritius Equity Markets | 17 Nov 2015: Negative mood continues on the bourse, investors lose US$38 million …

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PORT LOUIS, Mauritius, Capital Markets in Africa — The Stock Exchange of Mauritius equity markets continued in the red zone. The equity market capitalization ended at MUR 205.117 billion after dropping MUR 1.5 billion (about US$37.7 million) relatively to the previous market capitalization of MUR 206.566. The Mauritius All Share Index (SEMDEX index) sagged by 0.46 percent or 8.57 points to end at 1,841.87 and SEM10 index plunged by 0.48 percent or 1.69 points to end…

Morocco Equity Markets | 17 Nov 2015: MASI Index 0.34% down, MADEX Index 0.38% lower, Market Cap lose US$141 Million …

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Casablanca, Morocco, Capital Markets in Africa — The Moroccan benchmark stock index (measured as MASI Index) slumped by 0.34 percent to close at 9,179.31 points (with a year-to-date performance to -4.58 percent) with total market capitalization at MAD 461.660 billion (a drop of MAD 1.4 billion or US$141 million relative to previous market capitalization of MAD 463.101). The market activity measured as total traded value was recorded at MAD 132.624 million relatively to the previous total…

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