Africa | - Part 35

EU lawmakers seek ban on “blood metals” in surprise vote

By Robin Emmott BRUSSELS (Reuters) – The European Parliament voted on Wednesday to ban all products that contain “blood metals” sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business European People’s Party (EPP), the parliament’s biggest grouping, who need fellow centrist allies to pass laws following last year’s EU elections…

Botswana Market Watch | May 20th 2015: Botswana stocks on uptrend

Posted on by The Editorial Team

Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index kept its upward impetus by gaining 46.45 point (0.45 percent) to extended its year to date gains by almost 10% ending with 10,443.37 points. While the foreign composite index remained flat to close at 1,569 points. The equity market capitalization was recorded at BWP 381.325 billion. Looking at market activity, the total volume and total turnover were recorded at 4.091 million and BWP 29.855 million respectively. BIHL GROUP recorded…

EIB gives Madagascar 300 mln euro loan for roads, power

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Antananarivo, Madagascar (Capital Markets in Africa):- The European Investment Bank (EIB) has given Madagascar a 300 million euro ($333 million) loan to go be used to rehabilitate roads, power and energy infrastructure, the island state said. The president’s office in Madagascar said in a statement late on Tuesday that the EIB loan would also help in emergency repair work resulting from cyclone damage. President Hery Rajaonarimampianina took office in January 2014 after successful elections in 2013…

Nigeria’s central bank holds interest rate at 13 pct

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Abuja, Nigeria (Capital Markets in Africa):- Nigeria’s central bank held its benchmark interest rate unchanged at 13 percent on Tuesday, stressing the need to preserve foreign exchange reserves that have been depleted in recent months to support a weakening naira. At the last policy meeting before president-elect Muhammadu Buhari takes office in Africa’s largest oil producer on May 29, central bank governor Godwin Emefiele said it was not possible for the regulator to intervene on…

Broadly stable outlook for Sub-Saharan African sovereign credit quality

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London (Capital Markets in Africa):- The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s Investors Service in its latest sovereign outlook for the region. However, lower oil and commodity prices, uneven global growth, latent political risk and tighter external financing conditions pose challenges of different magnitudes to the region’s economies. The report, “Sovereign…

Sub-Saharan Africa banking sector has strong regional growth prospects

Posted on by The Editorial Team

London (Capital Markets in Africa):- Sub-Saharan Africa’s fast-expanding banking sector has strong potential to continue its recent growth trend, boosted by robust economies and widening financial inclusion, Moody’s Investors Service said in a report published today. The report, entitled “Banking – Credit Trends in Sub-Saharan Africa”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets…

South Africa’s rand softens as dollar rises on robust housing data

Posted on by The Editorial Team

Johannesburg, South Africa (Capital Markets in Africa):- South Africa’s rand weakened on Tuesday as the dollar was buoyed by strong U.S. housing data that revived bets of a rate hike in the world’s strongest economy by year-end. At 1502 GMT the rand had eased 0.26 percent to 11.9190 against the dollar, having ambled in the 11.80 region for most of the day before sliding lower as the greenback gained on the positive housing figures. U.S….

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