The Editorial Team |

Private Equity | Global Investors Shows Strong Interest in Africa’s Real Economy

Cape Town, South Africa, Capital Markets in Africa -–– Despite the recent turmoil in which many African countries find themselves, global investors showed strong interest in investing in Africa’s real economy, as evidenced by the increase in private equity fund raising in 2015. Total value of Africa PE funding, by year of final close*, was US$ 4.3billion. This is according to Bright Africa, the ongoing research endeavour from Africa investment specialists, RisCura. Click here to download…

Corruption in North Africa: Nearly 1 in 3 paid a bribe …

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LAGOS, Nigeria, Capital Markets in Africa — Nearly one in three citizens who tried to access basic public services in the Middle East and North Africa paid a bribe, a Transparency International report said today, showing that governments across the region have failed to hear their citizens’ voices against corruption. According to a public opinion survey by the international anti-corruption group of nearly 11,000 adults in 9 countries and territories, the majority of people (61…

Nigeria | More details emerge on Nigeria’s fiscal plans — BoAML

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LAGOS, Nigeria, Capital Markets in Africa — Nigeria’s Senators have urged Buhari to sign the budget into law after he requested it be sent to him to check for any unapproved adjustments. The local press has reported that this should happen within weeks but the whole budgeting process has been fraught with delays since it was first started in December 2015. The current delays relate to the allocation of the US$30bn headline expenditure, but the…

Nigeria | Ecobank Transnational Incorporated FY:2015 & Q1:2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — Ecobank Transnational Incorporated (“ETI” or “the Bank” or “the Group”) published its FY: 2015 and Q1:2016 numbers recently after issuing an initial profit warning. The FY: 2015 result reflected the Bank’s recent operational challenges as it booked a monumental impairment charge in loans and advances which surged to N105.2bn (136.9% higher than N44.4bn in FY: 2014). This pattern was also witnessed in the Bank’s Q1:2016 result; thus significantly…

Nigeria | FBN Holdings FY 2015 and Q1 2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — FBN Holdings Plc. (“FBNH” or “The Group”) published its much awaited audited FY:2015 and Q1:2016 results on 26th March 2016 on the floor of the Nigerian Stock Exchange (NSE) with Gross Earnings and Profit After Tax coming much lower than anticipated. Skewness to Oil & Gas loans impacted on profitability as a monumental N119.3bn was booked in impairment charges for its FY:2015 dragging profitability by 82.0%. We present the…

Nigeria | Moody’s downgrades Nigeria’s sovereign issuer rating with a stable outlook

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LAGOS, Nigeria, Capital Markets in Africa — Moody’s Investors Service has today downgraded Nigeria’s long-term issuer ratings to B1 from Ba3 and has assigned a stable outlook, concluding the review for downgrade initiated on March 4th 2016. The key drivers of today’s rating action are as follows: 1) Increased external vulnerability brought about by the prospect of lower-for-longer oil prices; 2) Execution risk in the transition to a less oil-dependent federal budget, and the implications…

Global Market Review and Outlook Week Ending 29 April

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LAGOS, Nigeria, Capital Markets in Africa — In the week, the major events that shaped market performance were the US Fed meeting outcome and the BOJ’s decision. The US Fed completed its third meeting for the year on Tuesday and decided to keep its benchmark rate unchanged while reassuring investors that it will continue to assess economic developments amid slow and steady growth across the globe. Similarly, the BOJ’s decision to keep rates stable came…

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