Nigeria | - Part 78

Excitement over “People Power” in Africa will not continue in 2016 — Control Risk

NAIROBI, Kenya, Capital Markets in Africa — People power witnessed in 2014 and 2015, for example in changes of government in Burkina Faso and Nigeria, will be proved limited in 2016. A combination of elections, constitutional pressures and financial difficulties will test governments across the region, including in Chad, Uganda, Congo (Brazzaville), Angola and South Africa. Incumbents will however retain their hold on power. These are some of the key messages of RiskMap 2016, published…

African Stock Market November 2015 Performance: Kenya’s equity gains 4.5%, EGX 30 Index 15.35% lower, Zambian kwacha returns 17.1%

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Lagos, Nigeria Capital Markets in Africa — African stock market performance measured by country equity benchmark index returns ended in negative for the month of November, with five gainers and thirteen losers on the local currency basis. Still on local basis return, the November’s average return of -3.0 percent (relatively to -0.9 percent in October) was recorded across eighteen African stock indices and November monthly returns range from -15.3 percent recorded by the Egyptian equity market (measured by Egyptian EGX 30…

Fact from History: Is the party begins for Nigeria’s Equity Investors?

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LAGOS, Nigeria, Capital Markets in Africa — The Nigeria’s Central Bank reduced its Monetary Policy Rates (MPR) by 200 basis points to 11.00 percent against market expectations and the country macroeconomic fundamental outlook. The question is how will Nigerian equity markets reacts to this development? Many investors believe that when rates fall, the party begins for stock prices and rate hike is the party is over for stock prices. Is the party begins for Nigerian…

Nigeria’s Central bank substantially loosen monetary policy by cutting benchmark rate to 11%

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LAGOS, Nigeria, Capital Markets in Africa — On 24 November 2015, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting was held where the MPC resolved to reduce the monetary policy rate (MPR) to 11 percent from 13 percent, Governor Godwin Emefiele told journalists today. Nigeria’s central bank reduced its benchmark interest rate for the first time in six years, deviating from its counterparts in most of African countries that have tightened monetary policy in…

Nigeria’s Monetary Policy Committe High Stakes, Tough Choices …

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LAGOS, Nigeria, Capital Markets in Africa — The Nigerian Monetary Policy Committee (MPC) will be sitting for its 6th and last session for the year from 23rd and 24th of November 2015. The meeting is coming against the backdrop of concerns surrounding FX rate amid calls for further devaluation of the local unit, slow GDP growth, unrelenting inflationary pressure, robust liquidity levels in the financial system as well as the increasing expectation for a FED rate…

Nigeria’s GDP Grows by 2.8% Y-o-Y in third quarter of 2015 … Brace for Impact?

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LAGOS, Nigeria, Capital Markets in Africa — The National Bureau of Statistics (NBS) released its Q3:2015 GDP report yesterday; which showed that in spite of the macroeconomic challenges faced during the period, the economy grew 2.8% Y-o-Y (to N18.0tn) in the quarter, 0.5% higher than Q2:2015 Y-o-Y growth (2.4%) but 3.4% lower than Q3:2014 (6.2%, Y-o-Y). The report also indicated that Q-o-Q, the economy expanded 9.2% in real terms, an improvement over 2.6%Q-o-Q growth recorded…

Multinational companies see long-term growth potential in Nigeria — Moody

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Lagos, Nigeria, Capital Markets in Africa — Multinational companies operating in Nigeria remain committed to participating in the long-term growth of Africa’s biggest economy and most populous country. This is despite the current environment of a continued low oil price and slowing economic expansion, Moody’s Investors Service said in a report published today and titled “Nigeria — Multinational Companies: Long-term Growth Strategies Resilient Despite Weak Oil Price Environment”. Large companies are sticking to their long-term…

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