The Editorial Team |

Gabon’s Ba3 rating balances wealth and sound public finances with risks stemming from low oil prices

Gabon’s Ba3 rating is supported by its oil- wealth, relatively sound public finances and membership of the Franc Zone, Moody’s Investors Service says in its latest Credit Analysis for the country published recently. However, a relatively undiversified economy and the government’s reliance on oil-derived revenue are among the factors which constrain its rating. “The key challenge for Gabon’s government is to stick to its plan to diversify the economy, while maintaining sound public finances at…

Nigeria’s oil revenue drops by NGN 265bn

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The slump in the global price of crude oil has resulted in a drop of NGN 265.28bn in the revenue generated by Nigeria in the fourth quarter of 2014 when compared to what the country garnered in the preceding quarter of 2014 according to Punch Newspaper, Nigeria. Oil prices fell from over USD 100 per barrel in early 2014 to as low as USD 40 per barrel by December 2014. Over 70% of the Nigerian…

How to identify market trends with Heikin-Ashi charts

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THEY’RE not a new invention, but Heikin-Ashi charts have gained popularity over the last 12 months. They are an offspring of the famous Candlestick charts, which are now standard on most trading platforms around the world. The main difference between the two is that Heikin-Ashi gives a better take on trending markets by generating fewer false signals. In fact, it’s almost impossible for a normal human being to misjudge a trend when using Heikin-Ashi charts….

Seychelles: AfDB Approves US$ 26 million for Mahe Water Project

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Seychelles (Capital Market in Africa) — The African Development Bank Group (AfDB) has allocated a loan and a grant amounting to US$ 25.995 million dollars to finance a water project in Mahe in the Seychelles. The Mahe Sustainable Water Augmentation Project (MSWAP) approved by the AfDB Board on Wednesday, 1 April 2015, in Abidjan, seeks to promote the country’s economic development by improving water supply capacity and resilience against climate change. The project aims at…

Egyptian Stock Exchange recorded EGP 79.8bn turnover in first quarter of 2015

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The total value of stocks traded in the first quarter (Q1) of 2015 registered EGP 79.8bn, compared to EGP 64.9 billion the previous quarter (Q4 of 2014), according to quarterly report issued by the Egyptian Stock Exchange. Also the report, stated that the stocks trading accounted for 68.54% of the total value traded of the main market, while the remaining 31.46% were captured by bonds over the quarter. In the report, the total volume traded…

Tunisia: AfDB grants €49.4 million loan to enhance natural gas supply to disadvantaged regions

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Tunis, Tunisia (Capital Markets in Africa) — The Board of Directors of the African Development Bank (AfDB) Group approved on Wednesday, April 1, 2015 in Abidjan, a €49.4-million loan to the Tunisian Electricity and Gas Corporation, la Société tunisienne d’électricité et du gaz (STEG). The project for the development of natural gas transportation and distribution to the western part of the country is aimed at improving the supply of cheaper and less-polluting energy to the…

Barclays Africa Applies for Equities Trading Licence in Nigeria

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Barclays Africa Group Limited, which is expanding on the continent after buying most of its parent’s operations in Africa, has applied for an equities trading license in Nigeria in addition to a commercial licence. “We really want to follow our corporate clients into Nigeria,” Bloomberg quoted the chief executive officer of the Johannesburg-based lender, Maria Ramos to have said in a recent presentation. “We want to bank our global and local clients in Nigeria. It’s…

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