South Africa | - Part 81

South African Reserves Bank to keep rate at 6.50% says Merrill Lynch

Johannesburg, South Africa, Capital Markets in Africa — The South African Reserve Bank (SARB) will be meeting tomorrow to determine policy rate. Given the current outlook of the economy, threatened with recession and inflation above the 3 percent to 6 percent target, economists and traders are divided which way SARB will go interest rate move. Some economists predict the Monetary Policy Committee will keep the benchmark rate unchanged at 6.75% and some expect a 25 basis-point of tightening. Matthew…

South Africa national budget remains one of the most transparent in the world.

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa — The Open Budget Index (OBI) is the world’s only independent, comparative measure of central government budget transparency. The OBI assigns countries covered by the Open Budget Survey a transparency score on a 100-point scale. The survey focuses specifically on whether the government provides the public with timely access to comprehensive information in accordance with international good practice standards. According to the findings of the latest survey (2015), the…

Moody’s places South Africa’s Baa2 ratings on review for downgrade

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa — Moody’s Investors Service has today placed the Baa2 bond and issuer ratings of the government of South Africa on review for downgrade. Also placed on review for downgrade were South Africa’s (P)Baa2/(P)P-2 shelf and MTN program ratings. The decision to place the ratings on review was prompted by the continuing rise in risks to the country’s medium-term economic prospects and to its fiscal strength, notwithstanding the tighter…

South Africa’s GDP grew by a modest 1.3% in 2015

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa — In the final quarter of 2015, South Africa GDP rose by a very modest 0.6%q/q, annualised (seasonally adjusted). This compares with growth of 0.7%q/q in Q3 2015, 1.3%q/q in Q2 and 2.2%q/q in the first quarter of 2015. The latest GDP performance was slightly below market expectations, which was for growth of 0.9%q/q (STANLIB 0.9%q/q). Over the past year to Q4 2015, SA GDP rose by a…

INTO AFRICA: African Economic Outlook in 2016

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — In 2015, Africa experienced its slowest economic growth rate since the 1998 global financial crisis. The Sub-Saharan Africa real GDP growth fell from 5.0 percent in 2014 to 3.75 percent in 2015 (IMF’s estimates). The downside risks in 2015 (low commodity prices, a slowing in China’s growth and uncertainty in the level of USA’s real growth rate) are expected to spill-over to 2016 but with reduced impact. As…

Foreign Investors Net Buyers of South African Shares and Bonds

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa — Foreign Investors net buyers of South African shares and bonds on February 16, according to the figures released by Johannesburg Stock Exchange Limited, South Africa. However, on a year to date basis foreign investors re net seller. The table below shows the trade statistics. The values are in billions of South African Rand, month to date and year to date figure include purchases and sales until end of…

African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Global equity markets opened 2016 on a panic mood amid of negative outlook on China’s growth prospects and commodity slumps. As a result, African equity market performance measured by country equity benchmark index returns ended in negative for the month, with four gainers and fourteen losers on the local currency basis. Still on local basis return, the January’s average return of -3.0 percent (relatively to -0.9 percent in…

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