Uganda | - Part 8

African Stock Market Performance at the end of May, 2015

Lagos, Nigeria (Capital Markets in Africa):- African stock market performance across the region has remained fairly flat (with merely -0.8% average return) for local investors in the month of May 2015. Figures for the Market Performance Month of May saw the Exchanges record high’s of 4.9% and 4.0% in Botswana and Ghana respectively. Several Markets went the other way recording losses ranging from 0.2% to 6.7% lead by the markets of South Africa (depreciated by 4.0%), Kenya (depreciated by 6.4%) and Namibia (down by…

Taming the dollar as regional currencies take a beating

Posted on by The Editorial Team

Nairobi, Kenya (Capital Markets in Africa):- The strengthening of the dollar against other currencies has sent East Africa central banks back to the drawing board, after enjoying two years of stability, according to The East African News. The Newspaper further reported that Central banks are now making plans to protect their shillings from a free fall that has already induced inflationary pressure and increased the cost of servicing debts for governments and corporates. As a…

AfDB sees Africa’s GDP growth nearing pre-crisis levels

Posted on by The Editorial Team

Abidjan, Ivory Coast (Capital Markets in Africa) – African economies will grow 4.5 percent this year and 5 percent in 2016, approaching levels last seen before the 2007 global financial crisis, as economic prospects improve worldwide, the African Development Bank (AfDB) said. The AfDB estimates that Africa’s gross domestic product expanded by 3.9 percent in 2014 despite sharp falls in international commodity and oil prices, an Ebola epidemic and pockets of political instability and armed conflict….

AfDB sees Africa’s GDP growth nearing pre-crisis levels

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- African economies will grow 4.5 percent this year and 5 percent in 2016, approaching levels last seen before the 2007 global financial crisis, as economic prospects improve worldwide, the African Development Bank (AfDB) said. The AfDB estimates that Africa’s gross domestic product expanded by 3.9 percent in 2014 despite sharp falls in international commodity and oil prices, an Ebola epidemic and pockets of political instability and armed conflict.“If you…

East African: Rising inflation takes its toll on region’s economies……

Posted on by The Editorial Team

East African economies are experiencing rising inflation as their currencies continue to weaken against the dollar according to the East African. The Bank of Uganda has raised its benchmark lending rate for the first time since June 2014, in a bid to slow the increase in inflation. BoU Governor Emmanuel Tumusiime-Mutebile said that the depreciation of the shilling and faster real GDP growth will lead to an increase in inflation over the medium term. Uganda…

Ugandan shilling weaker on central bank liquidity injection

Posted on by The Editorial Team

KAMPALA (Reuters) – The Ugandan shilling eased on Tuesday, undermined by an injection of local currency into the market by the central bank and was seen trading with a bearish bias this week. At 0838 GMT commercial banks quoted the shilling at 3,005/3,015, weaker than Monday’s close of 3,000/3,010.”There was liquidity tightness but the central bank injected shillings which has pushed the unit lower (weaker),” said David Bagambe, trader at Diamond Trust Bank Uganda. The…

African Market Watch: Thurs, 16th April 2015

Posted on by The Editorial Team

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day for both BRVM 10 index and BRVM Composite. BRVM 10 index rose from 271.78 to 273.94 points, a gain of 0.79%. BRVM Composite index gained 0.51% to 263.17 against 261.83 points previously. The equity market capitalization was recorded at XOF 6,492.71 billion. Likewise, the traded value was recorded at XOF…

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