The Markets | - Part 254

Mining for liquidity in Africa’s stock exchanges

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…

Egypt could raise up to $2 bln in Eurobond issue

Posted on by The Editorial Team

LONDON (Reuters) – Egypt could raise as much as $2 billion through a Eurobond this year and expects economic growth of close to 7 percent in three years’ time, Finance Minister Hany Kadry Dimian said on Friday. The Arab world’s most populous country is in the process of rebuilding its battered finances after the uprising that toppled Hosni Mubarak four years ago hit the country’s economy, discouraging investors and tourists, and slashing growth. “I am…

Nigerian Equity: When and What to Buy/Sell

Posted on by The Editorial Team

The Nigerian Stock Exchange, Lagos, Nigeria The markets are strongly correlated to global crude oil prices and explains the sustained sell-off we have witnessed in the markets. Crude oil accounts for 75% of the country’s revenue and 95% of foreign exchange. With prices falling, reserves are under pressure and the ability of the CBN to continue to stabilize the naira is at risk. The capital markets are largely driven by foreign portfolio investors who account…

Nigerian Bourse: Foreign transactions rose by 47.68% in 2014

Posted on by The Editorial Team

The Nigerian Stock Exchange released its December 2014 Domestic and Foreign Portfolio Participation in Equity trading. Total transactions at the nation’s bourse increased by 41.83% from N181.97 billion recorded in January to N258.08 billion (about $1.54 billion) in December 2014. This represents an increase of 28.53% from N200.8 billion recorded in November. Total foreign transactions increased by 47.68% from N1,042.04 billion recorded at the end of 2013 to N1,538.92 billion at the end of 2014 while total…

Nigeria to borrow N90billion in bonds

Posted on by The Editorial Team

Nigeria plans to raise 90 billion naira ($475 mln) in sovereign bonds with maturities ranging between five and 20 years at its next regular auction on Feb. 11, the Debt Management Office (DMO) said on Tuesday.The debt office said it will auction 35 billion naira worth of the 5-year bond, 30 billion naira of the 10-year paper and 25 billion of the 20-year debt note, using the Dutch Auction System. The 5-year debt note is…

Positive outlook for African Equity Capital Markets in 2015

Posted on by The Editorial Team

JOHANNESBURG, South-Africa, February 2, 2015/ — 2014 saw the highest level of activity in African equity capital markets (ECM) over the previous five years, and a significant increase in both transaction volume and capital raised during 2014 compared to the prior year, according to a report issued by PwC today (http://www.pwc.com). PwC’s inaugural publication entitled, IPO Watch Africa 2014, has found that US$11bn was raised in 2014 in the African equity markets across the continent,…

Surge in dollar-debt leaves some African nations exposed

Posted on by The Editorial Team

A surge in foreign debt issuance by African nations has left some fragile economies exposed to the risk of billions of dollars in foreign exchange related losses if the U.S. currency strengthens abruptly, a think-tank said on Wednesday. Judith Tyson, senior researcher at the Overseas Development Institute (ODI), said the notional losses in terms of higher interest and capital repayments could total $11 billion (£7 billion) in the event of a slump of 35 percent…

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