Tunisia | - Part 2

Moody’s takes rating actions on five Tunisian banks

TUNIS (Capital Markets in Africa) – Moody’s Investors Service (“Moody’s”) has today downgraded to B1 from Ba3 the long-term local currency deposit ratings of Arab Tunisian Bank (ATB), Banque Internationale Arabe de Tunisie (BIAT) and Banque de Tunisie (BdT) while also downgrading the long-term local currency deposit ratings of Amen Bank (Amen) and Société Tunisienne de Banque (STB) to B2 from B1. Moody’s also changed the outlook on the long-term deposit ratings of ATB to…

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – Moody’s Investors Service has today downgraded the long-term issuer rating of the government of Tunisia to B1 from Ba3 and maintained the negative outlook. Moody’s has also downgraded the foreign currency debt rating of the Central Bank of Tunisia to B1 from Ba3 and maintained the negative outlook, in addition to downgrading the shelf/MTN rating to (P)B1 from (P)Ba3. The Government of Tunisia is legally responsible for the payments…

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

Posted on by The Editorial Team

AfricInvest invests in International Community School, Ghana

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – AfricInvest, a leading pan-African mid-cap-focused Private Equity firm, is pleased to announce that its AfricInvest Private Equity Fund III has invested in International Community School Limited (ICS), a leading private K-12 school in Ghana. Through its investment, AfricInvest aims to support the growth of ICS by upgrading its facilities and funding its other expansion plans to re-enforce the success of the school in both its Kumasi and Accra locations….

INTO AFRICA May 2017 Edition: Africa’s Insurance Markets Uncovered

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LAGOS (Capital Markets in Africa) – Welcome to the May 2017 edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. This edition focuses on the Insurance sector and is titled: Africa’s Insurance Markets Uncovered marks an exciting time in the sector. Please download by clicking: INTO AFRICA PUBLICATION: MAY 2017 EDITION. The insurance sector remains under-developed in Africa (it generates barely 1.7% of global insurance premiums) despite being home to 15% of the World’s population,…

Tunisia central bank to steadily weaken dinar, finance minister says

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TUNIS (Capital Markets in Africa) – Tunisia’s central bank will reduce its interventions so the value of the dinar steadily declines, but it will prevent a dramatic slide in the currency, the finance minister said on Tuesday. The strategy is part of Tunisia’s talks on reforms with the International Monetary Fund. The IMF is pushing Tunisia to overhaul its finances and reduce public spending, especially public-sector wages, where spending is among the highest in the…

Tunisian banks pressurise amid significant asset risk and challenging operating conditions

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TUNIS (Capital Markets in Africa) – Moody’s Investors Service says that subdued economic growth, evolving regulation and significant asset risk pressure will maintain pressure on Tunisian banks’ performance. Moody’s report, entitled “Banks – Tunisia: Subdued economic growth, evolving regulation and significant asset risk will maintain pressure on banking performance,” is available on www.moodys.com. “Asset risk is a major issue facing Tunisian banks, and we expect non-performing loans to remain at high levels — at around…

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