The Editorial Team |

Nigerian “Budget of Change”…How much can it achieve? — Afrinvest

LAGOS, Nigeria, Capital Markets in Africa: One year into the transition from President Jonathan to the Buhari led administration; the burden on Government remained the need to rejuvenate the Nigerian economy which has suffered from the declining global oil prices, poor governance structure, sub-optimal fiscal crisis, and monetary policy actions. Recent domestic macroeconomic numbers have suffered from both global and domestic shocks which currently threaten the economic fundamentals of the country. The recent data published…

Old Mutual Alternative Investments to manage R380mn investment deal

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Johannesburg, South Africa, Capital Markets in Africa: Barnstone Education and the Schools and Education Investment Impact Fund South Africa have announced an additional investment as part of the second phase of the Prestige School project, a multi-million rand deal, which will fund the development and operations of six Prestige College affordable independent schools. This brings the total finance allocated to the project to R380 million. The deal is the latest of its kind for the…

Intra-African trade can catalyze investment and foster growth

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CAPE TOWN, South Africa, Capital Markets in Africa: As growth in developed markets such as Europe, China and North Africa continue to stagnate, greater regional integration in Africa, amongst all role players, is needed to capitalize on the continent’s growth potential. This is according to Hennie Heymans, CEO of DHL Express Sub-Saharan Africa, who says that when comparing intra-regional trade statistics, Africa’s rates are amongst the lowest in the world, with less than 20% of…

Nigerian Equity Markets | 24 May 2016: Market Closes Positive, Up 80bps… MPC Embraces Flexibility

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LAGOS, Nigeria, Capital Markets in Africa: As investors awaited the outcome of the MPC meeting, trading across the board was mostly cautious as marginal gains were offset by marginal losses until a mild rally that was recorded in market bellwethers in the final trading minutes ensured a positive close for the day. Consequently, the All Share Index rose 0.8% to settle at 27,231.50 points. Investors gained N74.0bn as market capitalisation rose to N9.4tn. Price appreciation in…

Nigerian Monetary Policy Committee Embraces Flexibility — Afrinvest

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LAGOS, Nigeria, Capital Markets in Africa: The Monetary Policy Committee (MPC) at the conclusion of its 3rd meeting for the year decided to hold all rates unchanged. More specifically, the Committee decided to; Retain the Monetary Policy Rate (MPR) at 12.0% Maintain the asymmetric corridor around the MPR at +200/-500bps Retain Cash Reserves Ratio (CRR) at 22.5% Keep the Liquidity Ratio (LR) at 30.0% Adopt flexibility of the interbank exchange rate market with a small…

An African Telecom Success Frays Amid Record Fine in Nigeria

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Johannesburg, South Africa, Capital Markets in Africa: Phuthuma Nhleko spent more than a decade building MTN Group Ltd. into Africa’s biggest wireless operator by rushing into markets few rivals would touch, from Syria to Afghanistan to South Sudan. Now his appetite for risk has come back to haunt him, and shareholders are calling for a different approach. The drawbacks of the aggressive style became apparent in October, when Nigeria slapped the company with a $5.2 billion fine —…

Tiger Sees South Africa Consumers Stressed as Costs Climb

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Johannesburg, South Africa, Capital Markets in Africa: Tiger Brands Ltd. said the risk of higher inflation will place pressure on South African consumers as the nation’s biggest food producer is raising prices to try to offset costs following record corn prices. Headline earnings per share from continuing operations, which exclude one-time items, were 9.78 rand ($0.62) in the six months ended March 31 from 9.75 rand a year earlier, the Johannesburg-based company said in a statement Tuesday. Tiger…

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