Nigeria

Nigeria’s Senate Passes Long-awaited Oil Governance Bill To Improve Transparency and Stimulate Growth

Posted on by The Editorial Team
Nigeria’s Senate Passes Long-awaited Oil Governance Bill To Improve Transparency and Stimulate Growth

ABUJA (Capital Markets in Africa) – As Nigeria’s Oil Minister  Emmanuel Ibe Kachikwu spoke to journalists at the meeting of the Organisation of Oil Petroleum Exporting Countries OPEC in Vienna Thursday, Nigeria’s Senate passed a long-awaited oil governance bill which the president of parliament’s upper chamber said would improve transparency in the OPEC member’s energy industry and stimulate growth in the sector. The Petroleum Industry Governance Bill is one part of proposed reforms that make up the sprawling…

Read More

OPEC, non-OPEC Extend Cuts in Oil Output by Nine Months to battle Global Oil glut

Posted on by The Editorial Team
OPEC, non-OPEC Extend Cuts in Oil Output by Nine Months to battle Global Oil glut

LAGOS (Capital Markets in Africa) – OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil prices dropped more than 4 percent <LCOc1> as the market had been hoping oil producers could reach a last-minute deal to deepen the cuts or extend…

Read More

Nigerian Banks Make Eurobond Comeback as UBA Plans Debut Deal

Posted on by The Editorial Team
Nigerian Banks Make Eurobond Comeback as UBA Plans Debut Deal

LAGOS (Capital Markets in Africa) – United Bank for Africa Plc said it plans to sell a debut Eurobond, a day after local rival Zenith Bank Plc tapped the market for the first time since 2014. UBA, Nigeria’s third-biggest lender by assets, wants to sell as much as $500 million of senior unsecured debt, it said in a statement to the Nigerian Stock Exchange. It will announce plans later on Tuesday for investor meetings in Europe…

Read More

Nigeria hopes for oil upturn after economy shrinks again

Posted on by The Editorial Team
Nigeria hopes for oil upturn after economy shrinks again

LAGOS (Reuters) – Nigeria’s economy stayed in recession in the first quarter and shrank more sharply than thought at the end of last year, data showed on Tuesday, as signs of growth in the oil sector fuelled hopes of an upturn in coming months. The economy shrank by 1.5 percent in 2016 for its first annual drop in 25 years, hit by a shortage of hard currency and lower revenues from its dominant oil sector…

Read More

Unlock the potential of African entrepreneurs to accelerate Africa

Posted on by The Editorial Team
Unlock the potential of African entrepreneurs to accelerate Africa

ABIDJAN (Capital Markets in Africa) – African governments need to integrate entrepreneurship more fully into their industrialisation strategies, according to the African Economic Outlook (AEO) 2017 released Monday, May 22 at the African Development Bank Group’s 52nd Annual Meetings. In 2016, Africa’s economic growth slowed down to 2.2% from 3.4% in 2015 due to low commodity prices, weak global recovery and adverse weather conditions, which impacted on agriculture production in some regions. However, it is…

Read More

Moody’s: Sub-Saharan Africa’s recovery from foreign currency shortages to take time

Posted on by The Editorial Team
Moody’s: Sub-Saharan Africa’s recovery from foreign currency shortages to take time

LAGOS (Capital Markets in Africa) – While foreign currency shortages in Sub-Saharan Africa stemming from lower oil and commodity prices are easing, it will take time for sovereigns, banks, and non-financial companies to restore their financial health, Moody’s Investors Service said in a report today. The report, “Foreign currency shortages are subsiding but will take a time to overcome”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release….

Read More

Ghana to cut interest rates May 22, Nigeria, S/Africa, Kenya to hold

Posted on by The Editorial Team
Ghana to cut interest rates May 22, Nigeria, S/Africa, Kenya to hold

JOHANNESBURG (Capital Markets in Africa) – The Bank of Ghana will extend its interest rate-easing cycle on Monday to give its economy a boost but other major African central banks will keep rates stable after a commodity price slump, a Reuters poll found. Ghana’s central bank cut its high prime rate by 200 basis points to 23.5 percent in March and is expected to chop another 100 basis points on Monday, according to the median…

Read More
1 … 21 22 23 24 25 … 101