Africa | - Part 36

Nigeria’s foreign exchange reserves rise by 1 pct by May 15

Lagos, Nigeria (Capital Markets in Africa):- Nigeria’s foreign exchange reserves rose marginally by 1.05 percent month-on-month to $29.80 billion by May 15 from $29.49 billion a month earlier, data from the central bank showed on Tuesday. The forex reserves of Africa’s biggest economy and top crude exporter have been on the decline since last year when the central bank used the reserves to support the ailing naira currency, which has depreciated by 7.5 percent so…

Zambia’s kwacha firms over 1 pct to month-high vs dollar

Posted on by The Editorial Team

Lusaka, Zambia (Capital Markets in Africa) – Zambia’s kwacha strengthened over one percent to 7.1500 per dollar at 1029 GMT, its firmest level since April 14, buoyed by the return of global demand for copper. Consumption of refined copper in China in the second half of 2015 is likely to rise, with growing demand in the world’s top consumer likely to support global prices. Zambia is Africa’s second-biggest producer of the industrial metal. Source: Reuters Africa…

Foreign direct investment in Africa surges

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Africa is the world’s fastest-growing region for foreign direct investment, according to a report from fDi Intelligence, a data division of the Financial Times group. In a year when the global greenfield FDI market grew a paltry 1%, Africa enjoyed a 65% increase in capital investment in 2014 over the previous year, to an estimated USD 87bn. The number of FDI projects in the continent rose 6%. The FDI…

Botswana Market Watch | May 18th 2015: Botswana stocks kicked off on a slower pace

Posted on by The Editorial Team

Gaborone, Botswana (Capital Markets in Africa):- Botswana stock exchange kicked off the week on a slower pace as reflected by the relatively thin trades (volume of 63,472 and total turnover of BWP 130,467) and market capitalization recorded at BWP 381.192 billion. Only 11 counters exchanged hands with only 2 movers. The domestic composite index took a deep breath from its bull run as it shed 1.52 points to close at 10,392.98 points while the foreign composite…

Burundi’s Political Crisis Is Credit Negative

Posted on by The Editorial Team

Bujumbura, Burundi (Capital Markets in Africa):-Last Friday, the United Nations High Commissioner for Refugees said that more than 105,000 people had fled Burundi (unrated) to neighbouring countries to escape political violence after three weeks of demonstrations and a failed coup last Wednesday. The worsening political situation in Burundi threatens to disrupt economic activity and administrative stability, weaken the political will and capacity to implement much-needed structural reform, and jeopardise multilateral and bilateral donor support. Additionally,…

Nigeria Market Watch | May 15th 2015: Nigerian stock market 7bps up today

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian stock market advanced further, up 7bps today to close at 34,439.52 points. All share index sustained uptrend on the last three trading days of the week bringing W-o-W return to 0.1%. In the same vein market capitalization advanced N7.9bn to close at N11.7tn. The positive performance on the Nigerian Bourse was largely driven by appreciation in FORTE OIL (+8.5%) and NIGERIAN BREWERIES (+0.8%). Market activity as measured by…

AFDB Agenda for Africa: Akinwumi Adesina, Nigeria’s Agriculture Minister & Candidate for AfDB President

Posted on by The Editorial Team

Abuja, Nigeria (Capital Markets in Africa):- Africa is experiencing a never-before-seen economic and political transformation. Five of the world’s 10 fastest-growing economies are located here. While there are many reasons to celebrate the improved economic performance, daunting challenges remain. Foremost among them are widening economic and social inequalities that have resulted from non-inclusive growth. Africa’s poverty rates are still the highest in the world. Since the end of the colonial era, the African Development Bank…

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