INTO AFRICA 2017 |

Nigerian Equity Markets: Key Drivers Still Under Siege

LAGOS (Capital Markets in Africa) – Analysis of market performance in 2016 indicated that although a combination of poor corporate releases as well as weak macroeconomic fundamentals contributed to the negative return for the year, market volatility remained largely consistent with instability in the currency market. More specifically, while bearish sentiments persisted for most of 2016, equities rallied between May and July 2016 due to reforms in the Oil & Gas sector and adoption of…

The World a Better Place for South Africa for South Africa Investors

Posted on by The Editorial Team

JOHANNESBUGH (Capital Markets in Africa) – There are three big themes that we believe will dominate markets in the year ahead. These are Keynes is King, Reflation and South Africa Stabilises. The first two themes are about an improving world and better global growth, while the third theme is South Africa specific and has the biggest impact on the local asset classes in which we invest. Keynes is King The world has shifted. The big…

Preview of South Africa’s Budget Speech 2017

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JOHANNESBURG (Capital Markets in Africa) – The upcoming Budget will be a critical one given there is no more room for the upward revision of deficit targets as seen over the last few years. As a result of the current slow growth environment, the tax increases and expenditure cuts set in October’s Medium-term Budget have to be adhered to if Treasury is to deliver a positive Budget. This is according to Senior Economist, Johann Els,…

Investing in African equity markets today: Zimbabwe as a case study for sub-Saharan Africa

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HARARE (Capital Markets in Africa) – A decade after its first disastrous flirtation with hyperinflation, Zimbabwe is once again on the economic precipice with the effects being conspicuously similar. Supermarket shelves have started to empty, some public and even private sector salaries remain unpaid, banking hall queues are getting longer and hospitals are short of basic supplies. Whilst the humanitarian state of affairs is critical we find the microeconomic structures persistently durable given that businesses continue…

Francophone Africa: Reality and Opportunities in Real Estate

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ABIDJAN (Capital Markets in Africa) – Africa and its potential have been on every investor’s lips for some time now. This interest is especially relevant when strong trends are emerging across cities of Africa, whether French, English or Portuguese-speaking, including an emerging middle class and rapid urbanization. Early 2000, commodities-driven economies with impressive growth rates such as Nigeria and Angola were the first targets of international investors. However, with the recent fall in commodities price,…

Analysing the Impact of Nigeria’s Foreign Exchange Regulations

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LAGOS (Capital Markets in Africa) – There have been a few of the adjectives that have been used to describe the recent foreign exchange (‘FX’) policies emanating from the Central Bank of Nigeria (CBN’) over the past 2 years and while opinion remains sharply divided it is clear that debate on these policies have assumed a life of their own. Unquestionably, the main statutory objectives of CBN’s exchange rate policy are to preserve the value…

Are African Markets Large and Instruments Mature Enough to Sustain CCPs?

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Since the financial crisis, clearing houses – also known as central counterparties (CCPs) – have come to be seen as having a fundamental role in managing risk in financial markets. So far, Africa has lagged behind other regions in adopting CCPs. Do African markets need CCPs? The answer to this question depends on understanding more about the ways in which CCPs contribute to risk management and how much of…

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