The Markets | - Part 244

Chart of the Week: Top Worst African Currency in 2015 ….

Lagos, Nigeria, Capital Markets in Africa — Most African currencies had depreciated against the US dollar this year, with the exception of Gambian Dalasi, CFA Fran and Botswana Pula appreciated by about 0.07 percent each. The top five most worst currencies in 2015 as at 16th of October 2015 were Zambian Kwacha, Ugandan Shilling, Angola Kwanza, Mozambican Metical and Tanzania Shillings.

Africa Equity Weekly | 16 Oct 2015: Egyptian equity 3.4% higher, Nigeria All Share 1.1% down, South Africa equity 0.7% lower

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Lagos, Nigeria, Capital Markets in Africa — At the end of Friday 16 October, out the eighteen African equity indices eleven ended in negative and seven in the positive zone relative to the week ending 09 October 2015. The overall weekly average return of the eighteen stock indices was -0.74 percent w-o-w. Egyptian EGX 30 Index topping the gainers’ list by adding 3.38 percent week-on-week (w-o-w) to end the week at 7,594.45 points. It followed BRVM Composite…

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…

African Sovereign Eurobond September 2015 Review: Yield widening, US$449 Billion Amount Outstanding …

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Lagos, Nigeria, Capital Markets in Africa — The continued low oil and commodity price environment had doubled whammy on most African countries (especially commodity dependent countries) by reducing foreign earnings and depreciation of currency. New issuance from the continent dropped to $4.25 billion in the first nine months of 2015, with only Egypt (US$1.5 billion) Cote D’Ivoire (US$ 1 billion), Gabon (US$ 500 million) and Zambia (US$1.25 billion) coming to the market a disappointing figure relative to a of…

African Stock Market Sept & Q3 2015 Report: Nigeria Local Champ, Uganda Foreign Favourite, BRVM Q3 Winner

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Lagos, Nigeria Capital Markets in Africa — African stock markets performance measured by country equity benchmark index returns ended in negative for the month of September, with eight gainers and ten laggards on the local currency basis. Still on local basis return, the September average return of -0.6 percent was recorded across eighteen African equity indices and September monthly returns ranges from -7.4 percent recorded by the Namibian equity markets (measured by Namibia Overall Index) to +8.1 percent registered…

South African Reserve Bank Keeps Repurchase Rate at 6.00 percent

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Johannesburg, South Africa, Capital Markets — The South African Reserve Bank Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.0 percent, according to statement released by the Lesetja Kganyago, Governor of the South African Reserve Bank. The statement stated that inflation outlook remains a concern for the Monetary Policy Committee, with the risks to the forecast assessed to be on the upside. Although two breaches of the target are…

Central Bank of Nigeria Keeps Benchmark Rate at 13 percent

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Lagos, Nigeria, Capital Markets in Africa — On 22 September 2015, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting was held where the MPC resolved to reduce the cash reserve requirement (CRR) to 25 percent from 31 percent, retain the monetary policy rate (MPR) at 13 percent, with the symmetric corridor of 200 basis points around the MPR, and retain the liquidity ratio at 30 percent. The MPC decisions were based on…

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