Finance | - Part 183

South Africa’s Standard Bank posts flat 2014 earnings

JOHANNESBURG (Reuters) – Standard Bank, Africa’s largest bank by assets, reported a 1 percent rise in full-year profits on Thursday, roughly in line with expectations, thanks to increases in lending, fees and trading. Stripping out its London-based division, in which Standard Bank is selling a controlling stake to China’s ICBC, headline earnings rose 20 percent. Standard Bank raised its dividend 12 percent to 598 cents per share. The lender said headline earnings per share (EPS)…

Private Equity Investment in Africa Buoyed by Continuous Growth in 2014

Posted on by The Editorial Team

London, United Kingdom, 2 March 2015: The outlook for private equity in Africa remains exceptionally positive for 2015, a new report by the African Private Equity and Venture Capital Association (AVCA) reveals. This is in spite of ongoing challenges concerning subdued growth prospects in Europe and China and any short-term uncertainties on the continent itself. The report, released on 27th February 2015, shows growing support for, and increased investor confidence in, African private equity over the…

Africa’s Afreximbank looks to Islamic finance with IDB tie-up

Posted on by The Editorial Team

MANAMA, March 3 The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), has signed an agreement with the African Export-Import Bank (Afreximbank) to cooperate in the development of the private sector in ICD member countries in Africa. Under the terms of the agreement signed in Manama on 2 March 2015, the two institutions will collaborate in joint operations, expand financial products and…

Corporate debt maturing in 2015-19 totals $8.9 trillion

Posted on by The Editorial Team

Standard & Poor’s projected that $8,879bn in corporate debt worldwide would mature between 2015 and 2019, with $1,610bn due in 2015, $1,753bn in 2016, $1,894bn in 2017, $1,714bn in 2018 and $1,908bn in 2019. The U.S. has $3,700bn in maturing debt during the covered period or 41.7% of the global maturing debt; followed by Europe with $3,631bn (40.9%), other developed countries with $969bn (10.9%) and emerging markets with $578bn (6.5%). In addition, non-financial corporate debt…

Nigeria’s bank ratings placed on CreditWatch negative

Posted on by The Editorial Team

Standard & Poor’s placed the ‘BB-‘ long-term issuer credit rating on Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Stanbic IBTC Bank and Zenith Bank on CreditWatch with negative implications, following similar action on Nigeria’s sovereign ratings. It expected the Nigerian banking sector to face difficulties in 2015. Also, it said that low global oil prices, the pressure on the Nigerian naira, the upcoming presidential elections and the regulatory changes are raising credit risks,…

Egypt’s Banks to benefit from improved environment

Posted on by The Editorial Team

Business Monitor International anticipated the Egyptian banking sector to benefit from the continuous improvements in domestic economic activity and political conditions. It said that reforms to the fuel subsidy system, in addition to lower global oil prices, would improve the fiscal outlook and reduce the financing needs of the government, which would encourage lending to the private sector. Further, it indicated that banks in Egypt have subscribed excessively to high-yielding government debt instruments to support…

Mining for liquidity in Africa’s stock exchanges

Posted on by The Editorial Team

Improvements in political and macroeconomic stability, policy certainty and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption, continue to raise the bar on foreign interest in Africa as an investment destination – as GDP growth (as a whole) averages at six percent for three consecutive years*. Yet, Africa hasn’t reached its potential share of investment in extractive service. In fact, the UNCTAD has revealed that although…

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