Africa | - Part 16

DECLARATION OF THE MEMBERS OF THE AFRICAN UNION FOR HOUSING FINANCE (AUHF) FOLLOWING THE ANNUAL GENERAL MEETING HELD IN ABUJA, NIGERIA ON 16 SEPTEMBER 2016

We, the members of the African Union for Housing Finance, having met with colleagues from the public and private sectors from over twenty countries over the past three days, and having held our 32nd annual general meeting in Abuja, Nigeria, on 16 September 2016, express our commitment to driving investment in Africa’s housing sector so that it contributes substantially to Africa’s growth agenda. We note: Affordable housing delivery to meet an ever increasing demand presents…

Nigerian Property Crash Attracts Funds Looking Beyond Recession

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LAGOS (Capital Markets in Africa) – A property market crash in Nigeria offers opportunities for brave investors betting that Africa’s most populous nation will deliver high returns when it climbs out of recession. Rents for residential and office property in the commercial capital Lagos have dropped by around 20 percent, year on year, due to a supply glut as projects planned prior to 2014, when oil prices started to fall, are now coming online. Investing…

African Central Banks Monetary Policy Rates and Foreign Reserves

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LAGOS (Capital Markets in Africa) – Algeria’s foreign exchange reserves dropped by $7.1 billion to $121.9 billion in the third quarter of 2016 due to lower oil prices that have hit the country’s finances, Central Bank Governor Mohamed Loukal said. Oil and gas earnings, which make up 94 percent of total exports and 60 percent of the state budget, fell to $18.8 billion in the first nine months of 2016, down 26.3 percent from the…

September’s Inflation Trends Across the Continent

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LAGOS (Capital Markets in Africa) – Angola’s inflation quickened to 39.44 percent in September from 38.18 percent in August, data from the national statistics agency showed. Prices increased at a slower pace month-on-month, rising 2.14 percent in September from 3.3 percent the prior month. Key contributors to the rise were food and non-alcoholic beverages; miscellaneous goods and services; clothing and footwear; furnishing and household equipment. Botswana’s consumer inflation quickened to 2.8 percent in September from…

Africa’s Economic Growth: It’s Not All Doom and Gloom

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LAGOS (Capital Markets in Africa) – Angola unveils $44 billion 2017 budget, sees economic growth of 2.1 percent. Angola, which has been hard hit by depressed oil prices, on Friday unveiled a 2017 budget of 7.3 trillion kwanza ($44.22 billion) with a budget deficit of 5.9 percent of gross domestic product. Aia–Eza Silva, the budget state secretary, told reporters the budget forecasts sub-Saharan Africa’s third-largest economy to grow 2.1 percent next year compared with estimates…

INTO AFRICA November Edition: Spotlight on Africa’s Real Estate

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to the November edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. In this edition, we bring a selection of insights on Real Estate and Property Investment prospects and challenges in Africa. Please download by clicking: INTO AFRICA PUBLICATION: NOVEMBER EDITION. Macroeconomic pressures continue to bear on economies in the African region. Low commodity prices, slowing global demand and uncertainty in the FX markets as well as weakening GDP…

Afreximbank raises more than $3 bln to fund work, but demands soar

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KIGALI (Capital Markets in Africa) – The African Export-Import Bank (Afreximbank) has already secured more than the $3 billion it had sought to raise by the end of 2016 to fund its activities, with about $1 billion coming from Eurobonds, a senior executive said on Thursday. But Cairo-based Afreximbank Executive Vice-President George Elombi also told Reuters the bank did not have enough resources to meet the continent’s soaring demand for financing from African economies hurt…

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