Finance | - Part 179

Poking the Panda does not serve EAC

The Tanzania government recently revealed that total Chinese investments in the country had surpassed $4 billion. China, the home of the Giant Panda, has indeed become a reliable ally in helping develop several African countries. True, there maybe one or two differences here and there, especially when it comes to competing with local traders and industrial relations, but on the whole relations have not been too bad. More important, the Chinese continue to be generous…

BADEA provides financial assistance to BOAD

Posted on by The Editorial Team

Lome, Togo (Capital Markets in Africa):- Messrs. Christian ADOVELANDE, President of the West African Development Bank (BOAD) and Abdelaziz KHELEF, Director General of the Arab Bank for Economic Development in Africa (BADEA), have signed an agreement under which BADEA has provided to BOAD a credit facility of USD 20 million, or around FCFA 12 billion. These resources will enable BOAD to finance imports of goods from Arab countries by WAEMU member States. “This financial assistance will help…

Ghanaian bank capital adequacy at 17.9% says IMF

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Accra, Ghana (Capital Markets in Africa):– According to the International Monetary Fund (IMF), the risk-weighted capital adequacy ratio of banks operating in Ghana reached 17.9% at the end of 2014 relative to 18.5% at end-2013 and 18.6% at end-2012; while the banks’ Tier-One capital ratio stood at 15.3% at end-2014, up from 14.7% at end-2013 and down from 16.4% at end-2012. The sector’s core liquid assets were equivalent to 26.8% of total assets at the end of 2014 relative to…

AfDB Staked $200 Million for Africas Renewable Energy

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The African Development Bank (AfDB)’s fund portfolio for renewable energies in Africa increased by 10 per cent to US$200 million in the last five years. According to the 2014 report launched by the bank on Monday, the portfolio size multiplied by 10 during the last five years and was now worth more than $200 million. Most project funding has been implemented by the Global Environment Facility (GEF) through AfDB since 2008. The report said the…

Outlook stable on 74% of bank ratings says Fitch ratings

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London (Capital Markets in Africa):- Fitch Ratings indicated that it upgraded 10 banks globally in the first quarter of 2015, with 90% in emerging markets; while it downgraded 22 banks worldwide, with 64% in emerging economies. It indicated that there were 70 ‘negative’ outlooks on the ratings of emerging market banks in the first quarter of 2015, unchanged from the fourth quarter of 2014 and up from 57 in the third quarter and 59 in the second quarter of 2014. In…

MENA’s M&A activity up by 9% to $8.9bn in first quarter of 2015

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Cairo, Egypt (Capital Markets in Africa):- Announced deal value in Middle East North Africa (MENA) increased from US$8.2b in Q1 2014 to US$8.9b in Q1 2015, an increase of 9%, according to EY’s Q1 MENA M&A Update. In Q1 2015, 90 deals were announced as compared with 89 deals in Q1 2014. Inbound announced deal value increased from US$0.4b in Q1 2014 to US$2.6b in Q1 2015; while domestic announced deal activity value decreased by 48% from US$1.7bn in Q1…

East African traders want barriers removed

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Kigali, Rwanda (Capital Markets in Africa):- East Africa’s private sector is pushing Rwanda and Tanzania to dismantle the remaining trade barriers according to the East African News. Importers and exporters alike say the barriers are negatively affecting the competitiveness of the Central Corridor by increasing transport costs as a result of delays. These sentiments were voiced recently at a round-table organised by Rwanda’s Ministry of East African Community Affairs about the removal of non-tariff barriers…

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