Features | - Part 233

African Development Bank Won’t Give Budget Support to Congo

CONGO, Capital Markets in Africa: The African Development Bank said it will keep working with the Democratic Republic of Congo’s government but won’t be able to give the country budget support until its political and structural conditions are met. Congo’s government in May said it would seek $100 million from the AfDB and as much as $500 million from the World Bank after the collapse in prices for copper and oil cut government revenue for the first four months of 2016….

South Africa June Inflation Quickens First Time in Four Months

Posted on by The Editorial Team

Johannesburg, Capital Markets in Africa: South African inflation quickened for the first time in four months in June, complicating the task of the Reserve Bank as it deliberates before announcing its rates decision on Thursday. The inflation rate rose to 6.3 percent from 6.1 percent a month earlier, Pretoria-based Statistics South Africa said on its website on Wednesday. The acceleration was in line with the median of 23 economist estimates compiled by Bloomberg. Prices rose 0.6 percent in the month….

Sub-Saharan credit growth rates halve in two years says ODI report

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Private credit growth across sub-Saharan Africa has more than halved over the past two years and ground to a halt in oil exporting countries following low oil prices and the economic slowdown in China, weighing heavily on regional growth prospects, a report said on Friday. With international finance having become ever scarcer and costlier, private credit in sub-Saharan Africa increased by just 7 percent in the first six months…

South Africa’s Economy is to Slow Down due to Zuma’s Questionable Integrity

Posted on by The Editorial Team

South Africa is on the brink of an economic catastrophe something must be done ASAP to arrest the decline in the country’s fortunes. Standard & Poor has downgraded South Africa’s sovereign rating to negative outlook and the rating might be downgraded further to junk in the near term. In December 2015, President Jacob Zuma was forced to appoint Pravin Gordhan as the finance minister after investor confidence fell to its lowest point in decades. South…

Nigerian President Buhari Plans Seen as Inadequate to Deal With Nigeria’s Slump

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nigeria’s economy could contract this year and President Muhammadu Buhari’s government is seen as having few plans in place to turn the slump around, according to analysts including Renaissance Capital Limited’s Yvonne Mhango. Last month, the Central Bank of Nigeria allowed the naira to devalue after a 15-month currency peg curbed investment and contributed to a 0.4 percent contraction in the economy in the three months through March. With inflation at a…

Rwanda launches RNIT Iterambere Fund to boost savings through capital market

Posted on by The Editorial Team

RWANDA, Capital Markets in Africa: Rwanda National Investment Trust Ltd (RNIT), a company fully owned by the Government of Rwanda launched on Tuesday RNIT Iterambere Fund – an open end balanced fund to facilitate Rwandans to have a planned approach to investments and wealth creation. The RNIT Iterambere Fund is an initiative of the Government of Rwanda that aims at promoting the culture of saving by designing products that suit the various investment needs…

Embracing Local Capital Markets: An Alternative Approach to Hedging Currency Risk in Africa

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: With the appearance of stalwarts of the global private equity industry in Africa such as Carlyle, the Abraaj Group and Temasek, the outlook for private equity flows into the continent should be promising. The reality for these fund managers, is that the majority of growth being created is in local currency and as such their returns are impacted by volatility in exchange rates between local currency and the US…

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