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Nigerian Equity Markets | 18 Nov 2015: How Much Lower and When to Stop? …NSE ASI down 47bps

Lagos, Nigeria, Capital Markets in Africa — The bears’ hold on the Nigerian bourse was tightened today as the All Share Index trended further southwards, losing 0.5% to settle at 28, 219.44 points, an 11-week low. The poor performance of the market today was broadly driven by the persistent sell-offs in NIGERIAN BREWERIES (-1.5%) as well as losses in FORTE OIL (-5.0%) and STANBIC (-4.9%). Capitalization in the market also depreciated N45.3bn to berth at N9.7tn….

Egypt Equity Markets | 18 Nov 2015: Bullish Sentiment Rules the Equity Markets, Market Cap US$100 Mill Higher …

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Cairo, Egypt, Capital Markets in Africa —– Egyptian Exchange returned to the North Pole at the end of Wednesday’s trading session as both indices and market capitalization ended higher. The equity market capitalization added EGP 882 million (nearly US$110 million) to end at EGP 418.348 billion from EGP 417.466 billion recorded at the previous day trading session. The benchmark index EGX30 grew by 6.64 points or 0.10 percent to end 6,413.97 points. The equal-weighted indexes EGX50 added 0.61 percent…

Nigeria’s GDP Grows by 2.8% Y-o-Y in third quarter of 2015 … Brace for Impact?

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LAGOS, Nigeria, Capital Markets in Africa — The National Bureau of Statistics (NBS) released its Q3:2015 GDP report yesterday; which showed that in spite of the macroeconomic challenges faced during the period, the economy grew 2.8% Y-o-Y (to N18.0tn) in the quarter, 0.5% higher than Q2:2015 Y-o-Y growth (2.4%) but 3.4% lower than Q3:2014 (6.2%, Y-o-Y). The report also indicated that Q-o-Q, the economy expanded 9.2% in real terms, an improvement over 2.6%Q-o-Q growth recorded…

Multinational companies see long-term growth potential in Nigeria — Moody

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Lagos, Nigeria, Capital Markets in Africa — Multinational companies operating in Nigeria remain committed to participating in the long-term growth of Africa’s biggest economy and most populous country. This is despite the current environment of a continued low oil price and slowing economic expansion, Moody’s Investors Service said in a report published today and titled “Nigeria — Multinational Companies: Long-term Growth Strategies Resilient Despite Weak Oil Price Environment”. Large companies are sticking to their long-term…

Gulf investors access Africa via co-investment with private equity funds and invest US$9.3 billion

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DUBAI, Capital Markets in Africa — In support of its efforts to highlight attractive investment opportunities in Africa to its members, Dubai Chamber of Commerce & Industry launched new report entitled “Beyond Commodities: Gulf Investors and the new Africa”, which has highlighted that co-investment with private equity funds, purchase of private equity businesses, and direct buyouts or minority share acquisition represent the most significant modes of FDI entry for Gulf investors interested in Sub-Saharan Africa. The study,…

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

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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…

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