North Africa |

Algeria’s banking sector is adequately capitalised and profitable

ALGIERS (Capital Markets in Africa) – The International Monetary Fund indicated that Algeria’s banking sector is adequately capitalised and profitable. It noted that the capital adequacy ratio of banks operating in Algeria increased from 18.9% at the end of 2016 to 19.6% at end-2017, while their Tier-One capital ratio declined from 16.3% at end-2016 to 15.2% at end-2017 as a result of higher credit growth. It also pointed out that the banks’ return on assets was at 2% and their return…

Morocco Central Bank Holds Rates, Citing Inflation Prospects

Posted on by The Editorial Team

CASABLANCA (Capital Markets in Africa) – Morocco’s central bank kept its benchmark interest rate unchanged despite rising inflation that’s prompted a damaging product boycott. The central bank kept the key rate at 2.25 percent, citing medium-term inflation and growth prospects. Last month the general affairs minister said the economy could withstand annual price growth of as much as 3 percent, above the 2.7 percent reached in April that was near a five-year high. Spurred by temporary…

Mauritania’s Growth Prospects Dependent on Reforms – IMF Says

Posted on by The Editorial Team

MAURITANIA (Capital Markets in Africa) – The International Monetary Fund indicated that Mauritania’s economy has been recovering, as real GDP growth accelerated from 1.8% in 2016 to 3.5% in 2017 due to improved terms of trade and strong activity in the agriculture, manufacturing, transport and telecommunications sectors. But it projected growth to slow down slightly to 3% in 2018, as a result of the delayed impact of last year’s drought on the agriculture industry. The IMF, also considered the …

Algerian Economy Facing Significant Challenges – IMF Says

Posted on by The Editorial Team

ALGIERS (Capital Markets in Africa) – The International Monetary Fund indicated that Algeria continues to face significant challenges because of the sharp decrease in global oil prices since 2014. It noted that Algerian authorities are facing wide fiscal and current account deficits, declining foreign currency reserves and a slowdown in economic activity, despite the considerable fiscal consolidation measures implemented in 2017. It projected real GDP growth to accelerate from 1.6% in 2017 to 3% in 2018…

Tunisian Risks to Macroeconomic Stability Increase – IMF says

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – The International Monetary Fund considered that Tunisian authorities remain committed to the implementation of urgent economic reforms to reduce the country’s macroeconomic and fiscal imbalances. It indicated that the economy showed signs of recovery, with real GDP growing by 2.5% in the first quarter of 2018, its highest level since 2014, supported by strong agricultural production and exports. Also, it noted that the current account deficit narrowed because of a…

Morocco’s Wheat Outlook Is Bad News for Top Exporters of Grain

Posted on by The Editorial Team

RABAT (Capital Markets in Africa) – Morocco is poised to have a bountiful wheat harvest in 2018, and that may mean another slow year for the North African country’s top suppliers from Russia to France and Ukraine. The crop will be 7.09 million metric tons this year, the Agriculture Ministry said in a document distributed Monday. That’s after the harvest more than doubled in 2017-18 and imports dropped 23 percent, according to U.S. Department of…

Egyptian Financial & Industrial Rises 5%; Trading Volume Surges

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egyptian Financial & Industrial Co. rose 4.6 percent, the biggest gain since Oct. 8, 2017 compared with end-of-day price changes and 30 times the country’s benchmark index. The shares climbed to EGP 18.10 from EGP 17.31. Trading volume was almost seven times the 30-day average of 132,061 for this time of day. Egyptian Financial & Industrial’s move compares with little change in the Egyptian Exchange EGX 30 Price Index, which was up 0.15…

« 1 2 3 4 … 10 »