West Africa | - Part 3

Nigerian Low-Cost Mortgage Lender Set for $1.4 Billion Boost

LAGOS (Capital Markets in Africa) – Nigeria’s government plans to inject 500 billion naira ($1.4 billion) into its low-cost mortgage lender over the next five years in an effort to spur home ownership that has failed to take off in Africa’s most-populous nation. Faced with a housing deficit of 17 million units, Nigeria is seeking to improve access to home loans in an economy that vies with South Africa as the continent’s biggest. A lack of…

Ivory Coast outlooks is robust amid strong growth and low inflation

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – The International Monetary Fund indicated that Côte d’Ivoire’s medium-term outlook is robust amid strong economic activity and low inflation. As such, it projected real GDP growth at 7.4% in 2018 and 7% in 2019 compared to 7.8% in 2017. Also, it forecast the average inflation rate at 1.7% this year and 2% next year relative to 0.8% last year. Further, it welcomed the authorities’ sound macroeconomic policy management despite the domestic shocks and unfavourable…

Moody’s downgrades Gabon’s ratings to Caa1, changes outlook to stable

Posted on by The Editorial Team

LIBREVILLE (Capital Markets in Africa )- Moody’s Investors Service has today downgraded the Government of Gabon’s issuer and senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable from negative. The rating downgrade is underpinned by continuing government arrears to creditors and suppliers which point to heightened government liquidity pressures and denote institutional weaknesses. Persistent arrears also risk delaying critical financial support from the official sector, in turn exacerbating existing liquidity…

Nigerian Banks’s Capital ratio at 3.4% under high stress scenario

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Moody’s Investors Service conducted a scenario analysis to measure the solvency of Nigerian banks under a base-case scenario and an alternative stress scenario during the 2018-19 period. It noted that the base-case scenario reflects its current macroeconomic forecasts for Nigeria, while the stress scenario measures the banks’ capacity to withstand high stress conditions and includes a set of assumptions for loan and asset growth and income reductions, among other…

Mali Opposition Vows More Protests After Clashing With Police

Posted on by The Editorial Team

BAMAKO (Capital Markets in Africa) – Mali’s main opposition alliance said it will continue with protests to demand peaceful and transparent elections next month after police fired teargas to disperse a rally this weekend in the capital, Bamako. At least 16 people including protesters and security staff were hurt on Saturday as opposition supporters rallied at the office of the Alliance for Democracy and Progress coalition. They were demanding better coverage of their campaigning on state…

Nigerian Oil and Gas Sector: Regulations and Incentives

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria is currently facing significant challenges in its petroleum industry because of the volatility of oil prices1, pipeline vandalism and illegal refining. It is clear that the country must reduce its reliance on crude oil income by developing its midstream and downstream sectors and leveraging on its natural gas reserves. The existing petroleum regulatory framework however discourages investment in the sector and has proved to lack the requisite comprehensiveness…

Nigeria Rate-Cut Hope Lives as Inflation Slows to Two-Year Low

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian inflation slowed for a 14th straight month in March, taking consumer-price growth below the benchmark interest rate for the first time in two years and opening the door for a rate cut. Consumer inflation in Africa’s most-populous nation decelerated to 13.3 percent from a year earlier, the lowest rate in two years and below the benchmark rate of 14 percent. Nigeria’s central bank left its main lending rate…

« 1 2 3 4 5 … 28 »