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Kenya to sell 15-yr infrastructure bond from October 2016

NAIROBI (Capital Markets in Africa) – Kenya will sell a 15-year infrastructure bond to raise up to 30 billion shillings ($296 million) this month to fund road, water and energy projects, the central bank said on Sunday. The bank said that the bond will have a 12 percent coupon. It will take bids until Oct. 18 and auction the paper on Oct. 19.

Angola’s Central Bank Maintains Rates on stable inflation in April 2016

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) held a meeting on 29 April 2016, decided to maintained the Basic Interest Rate at 14.oo%, BNA said in a statement on its website on Thursday. In addition, the central bank left the standing lending facility rate at 16% and kept the overnight standing liquidity absorption facility rate at 2.25%. In March 2016, the monthly inflation…

Morocco central bank cuts benchmark interest rate to 2.25 percent

Posted on by The Editorial Team

CASABLANCA, Morocco, Capital Markets in Africa — The Moroccan central bank cut its benchmark interest rate on Tuesday for the first time since December 2014 in an attempt to stimulate an economy hurt by weak cereal production and non-agriculture activity. The Bank reduced the key rate by 25 basis points to 2.25 percent, Bank Al-Maghrib said in a statement. The central bank also lowered its growth forecast for this year to 1 percent from 3…

Nigeria: CBN Maintain or Tighten Policy?

Posted on by The Editorial Team

We expect policy to be held steady later today as the 100bp tightening in the MPR to 13% late-November 2014 is still yet to transmit its full effect throughout the economy. It is also unlikely for a tightening of policy prior to the election. However, there are various ways that the MPC could respond to current pressures, for example: • Tightening monetary policy further by around 100bp. • Raising Cash Reserve Ratio on Private Sector…