The Editorial Team |

Côte d’Ivoire’s sovereign ratings upgrade to Ba3 from B1, outlook stable — Moody’s

Abidjan, Cote d’Ivoire, Capital Markets in Africa — Moody’s Investors Service (Moody’s) has today upgraded the long-term ratings of Côte d’Ivoire to Ba3 from B1. The short-term issuer rating of NP was affirmed. The outlook on the long-term ratings has changed to stable from positive. Côte d’Ivoire’s local currency country ceilings for bonds and deposits remain at Baa3, and its foreign currency country ceilings for bonds and deposits also remain Baa3/P-3. Rating RationaleThe first driver…

African capital markets play an important role in fostering African economic growth — Sunil Benimadhu, CEO, Stock Exchange of Mauritius

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Sunil Benimadhu, Chief Executive of the Stock Exchange of Mauritius (SEM) gives an exclusive interview to Capital Markets in Africa and elaborates on aspects of capital markets development in Africa. Sunil has played an instrumental role in uplifting the operational, technical and regulatory infrastructure of the SEM and contributed to its emergence as one of the leading Exchanges in Africa. He is a regular speaker on emerging markets and on African markets in international stock exchange conferences To…

Africa Equity Weekly | 06 Nov 2015: Ugandan Stocks push African Stock Markets into Negative region despite gains in six markets …

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Lagos, Nigeria, Capital Markets in Africa — The African equity markets ended in the red district at the end of Friday 06 November 2015, out of the eighteen African equity indices six ended in positive district and eleven in the negative region (Illiquid Swaziland All Share index remained unchanged to end at 312.38 points) compared to the previous week ending Friday 30 October 2015. The overall average return of the eighteen stock indices was -0.6 percent week-on-week…

Nigeria’s Access Bank to remain resilient over next 12-18 months, despite significant challenges

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Lagos, Nigeria, Capital Markets in Africa — Nigeria’s Access Bank Plc has high capital levels that boost its resilience in the face of weaker Nigerian economic growth that has led to potential asset quality pressure and weakened liquidity conditions, Moody’s Investors Service said in a report on November 5th 2015. “Weaker economic growth in Nigeria and tighter liquidity within its banking system are among the challenges exerting pressure on Access Bank’s core profitability,” said Akintunde…

South Africa Equity Markets | 05 Nov 2015: JSE equity trading ends in red, key sectors in negative …

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JOHANNESBURG, South Africa, Capital Markets in Africa — Negative sentiment ended today’s equity trading at the Johannesburg Stock Exchange (JSE). The Johannesburg Stock Exchange (JSE) All Share index sagged by 0.98 percent or 536.00 points to end at 54,073.01 points. The JSE Top 40 index also declined by 1.07 percent or 527.44 points to end at 48,553.57 points. From the sector perspectives, JSE financial sector index dipped by 1.10 percent to end at 45,408.54 points. Both Industrial and industrial 25 sector…

Nigerian Equity Markets | 05 Nov 2015: Nigerian Equity ends in a close call… NSE ASI marginally Sheds 1bps

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Lagos, Nigeria, Capital Markets in Africa — Activities in the Nigerian equities market ended almost flat today after the benchmark index slipped by just 1bps at the end of trade to settle at 29,030.97pts. This was against the declines in market bellwethers — NIGERIAN BREWERIES (-0.7%), UNILEVER (-5.3%) and ZENITH BANK (-1.1%). Market capitalization equally declined N505.2m to settle at N10.0tn. Conversely, market activities measured by volume and value rose 57.1% and 45.4% to 285.2m units…

Lekela Power signs MoU for US$350m wind power station in Egypt, following meeting with President Al-Sisi

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CAIRO, Egypt, Capital Markets in Africa —– Actis controlled Lekela Power, a $1.9bn pan-African renewable power generation company has signed a Memorandum of Understanding with the Egyptian Electricity Transmission Company for a 250 MW wind power station in Egypt’s Gulf of Suez area. Lekela Power is owned 60% by Actis, a leading emerging markets investor and 40% Mainstream Renewable Power, a global wind and solar company. This latest power station is Lekela Power’s third project…

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