The Editorial Team |

Angola cuts budget by 50% as oil prices fall

Luanda, Angola, Capital Markets in Africa — The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices. Vice President Manuel Vicente who made the announcement said the country has reduced public investment by 53 percent. Oil prices have slumped by more than half since June, threatening Angola, which relies on crude for almost all of its exports and more than two-thirds of government income….

Morocco Equity Markets | 16 Oct 2015: Casablanca Stock Exchange equity market returns to Red, lose US$100 Million …

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Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange equity markets returned in the red zone at the end of Friday’s trading session. The Moroccan benchmark stock index (measured as MASI Index) faltered by 0.17 percent to end at 9,007.41 points (with a year-to-date performance to -6.37 percent) with total market capitalization at MAD 453.427 billion (a decrease of MAD 963 million or US$100 million relative to previous market capitalization of MAD 454.390 billion). The market activity measured…

Mauritius Equity Markets | 16 Oct 2015 : Mauritius Equity Ends in Red, Investors US$20 poorer, SEMDEX 0.34% lower

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PORT LOUIS, Mauritius, Capital Markets in Africa — Mauritius stocks stayed in the southern region through the week, hence ended in a bearish mood. The equity market capitalization ended at MUR 207.077 billion after dipping by MUR 703 million (about US$20 million) compared to previous market capitalization of MUR 207.780 billion. The Mauritius All Share Index (SEMDEX index) sagged by 0.34 percent or 6.31 points to close at 1,859.50 and SEM10 index lost 0.32 percent 1.15…

IFC Launches Mini-Grid Program to Increase Energy Access in Tanzania

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Dar es Salaam, Tanzania, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, this week launched a $5 million program to increase access to energy in Tanzania by developing a market for mini-grids. The initiative aims to bring affordable, off-grid renewable energy to households and businesses in rural Tanzania. IFC will work with project developers in Tanzania to promote commercially viable mini-grid business models, and will advise banks…

Zambians say our Lord’s Prayer: Gives us our daily bread …

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Lusaka, Zambia, Capital Markets in Africa — Zambian President Edgar Lungu wants Zambians to pray and fast on this Sunday. All bars, nightclubs and entertainment venues have been instructed by the government to shut on the day, while the Football Association of Zambia has cancelled domestic games. Church leaders are rallying their members to heed the president’s call in a nation where more than 80 percent of the 15 million people are Christian. The country prayer…

Nigerian Equity Markets | 15 Oct 2015: Nigerian share gains on blue chips… NSE ASI rises 0.1%

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Lagos, Nigeria, Capital Markets in Africa — After staying in the southward region for the most part of the day, the Nigerian equities market reversed downtrend to close 11bps higher and settle at 29,700.08 points on the back of marginal rebound in DANGOTE CEMENT (+0.6%), FORTE OIL (+2.3%) and ETI (+1.8%). Market capitalisation also added N11.0bn to berth at N10.2tn at the close of trade. Market activities equally improved as volume and value added 7.6% and…

South Africa Equity Markets | 15 Oct 2015: South Africa’s stock falter, rand firms on weak U.S data

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Johannesburg, South Africa Capital Markets in Africa —Johannesburg Stock Exchange (JSE) All Share (the broadest measure of the equity market performance) down by 0.17 percent or 92.64 points to settle at 52,966.42 points and the benchmark JSE Top 40 index ended 149.16 points or 0.31 percent lower to end at 47,462.98 points. Looking at the sector indices, financial sector index grew by 0.48 percent or 211.46 points at 44,009.78 points. Industrial sector index and industrial 25 index slumped by 0.23 percent…

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