The Editorial Team |

Dubai’s Access Infra Africa to Boosts Africa’s Power Supply by US$500 million

Accra, Ghana (Capital Markets in Africa) — Access Infra Africa, a Dubai-based company, will launch what it says will be Africa’s largest privately owned solar plant in Uganda this year, part of plans to develop electricity projects in 17 African countries, mainly based on renewable energy. The company will spend USD 500m in the next three years on power generation plants, including in Egypt, Ghana, Uganda, Tanzania, Kenya and Mozambique, Reda el-Chaar, executive chairman of Access…

Morocco Market Watch | June 9th 2015: Moroccan equity market extends bearish run, falls MAD 7 billion and index down 131 bps today

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Casablanca, Morocco (Capital Markets in Africa):- The bearish extends today at Morocco equity market. Morocco’s benchmark stock index (MASI Index) fell by 1.31 percent to close at 9,595.92 points (with a year-to-date performance to -0.25 percent) with total market capitalization at MAD 487.150 (lost MAD 6.88 billion compared to previous trading sessions market capitalization of MAD 494.036 billion) and market activities measured as total traded value was recorded at MAD 187.873 million (a rise of 430…

Egypt Market Watch | June 9th 2015: Egyptian equity market deepens further today and give up EGP 402 million

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Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices closed Tuesday on a negative note, with the market capitalisation losing nearly EGP 402 million to close at EGP 492.076 billion (against EGP 492.076 billion recorded yesterday), pressured by institutional Arab and foreign investor selling as a result of aniticipated MSCI market classification review expected later today. The benchmark index EGX30 fell by 0.13 percent or 11.40 points to end the day at 8,660.93 points (-2.98 percent…

Zimbabwe Market Watch | June 9th 2015: Zimbabwe industrial index falls by 0.54% and market cap loses US$21 million

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Harare, Zimbabwe (Capital Markets in Africa):-The Zimbabwe Stock Exchange (ZSE) industrial index continues on a negative note, by falling 0.82 points (0.54 percent) to settle at 152.61 points. Likewise, the market capitalization was recorded at US$ 3.979 billion losing US$21 million against previous trading session. The market activity today recorded a turnover of US$1.653 million exchanged in 19 securities via 41 trade transactions. Foreign investor buys US$1.085 million and foreign sells US$700,298 today. Out of the…

Ghana needs $15 bln over 10 yrs to close infrastructure gap, Says Vice President

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Accra, Ghana (Capital Markets in Africa) – Ghana requires some $15 billion over the next decade to plug a gap in its infrastructure, Vice President Kwesi Amissah-Arthur said on Tuesday at a forum of financial sector operators and private entrepreneurs in Dakar. A three-year-old power crisis in the West African nation has hindered economic growth and sapped businesses, prompting thousands of Ghanaians to take to the streets in protest last month. A fiscal crisis is…

Kenya’s central bank raises benchmark rate from 8.5pc to 10pc

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Nairobi, Kenya (Capital Markets in Africa) — Central Bank of Kenya’s Monetary Policy Committee has decided to raise the benchmark lending rate from 8.5 per cent to 10 per cent, the first increase since 2011. The decision, made at a meeting of the MPC called a month earlier than scheduled, is meant to address inflation fears and shore up the battered Kenya shilling better than the CBK’s interventions in the market. A statement signed by…

AfDB with GEF support continues to strengthen resilience to climate change in Africa

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Lagos, Nigeria (Capital Markets in Africa) — The Global Environmental Facility (GEF) approved USD 35 million in funding to improve climate resilience to be channeled through the African Development Bank for programs in Côte d’Ivoire, Chad, Zambia, in addition to one which spans several countries. The announcement was made at the recent 48th session of the GEF Council Meeting during which the largest GEF work program in its 23 years of history – USD 709…

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