The Editorial Team |

Mozambique: A Soft Landing in 2016 — Tiago Dionisio, Chief Economist

Mozambique’s long-term economic outlook remains upbeat Economic activity in Mozambique slowed in 2015. The latest data released by the National Statistics Bureau (INE) showed that real GDP expanded at a more modest 5.9% YoY in 2Q15. This is well below the growth rates seen in the previous four quarters, which averaged 7.4%. The mining and construction sectors remained the main growth drivers of the economy, improving 17.9% and 13.1%, respectively, from the same period of 2014….

Morocco Equity Markets | 31 Dec 2015: Morocco equity investors lose MAD 31bn and All Share index falls 7.22% in 2015 …

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Casablanca, Morocco, Capital Markets in Africa —Casablanca Bourse ended Thursday’s trading session; the last trading session of 2015 in a positive region to cushion the overall loses in 2015. The Moroccan benchmark stock index (measured as MASI Index) advanced by 0.64 percent to close at 8,925.71 points (with a year-to-date performance to -7.22 percent) and the equity market capitalization closed 2015 at MAD 453.316 billion (by gaining of MAD 4.62 billion or US$462 million relative to…

Egypt Equity Markets | 31 Dec 2015: Egypt Equity Market loses EGP 70bn, EGX 30 index 21.5% lower in 2015,

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Cairo, Egypt, Capital Markets in Africa — Egypt Exchange equity trading ended in a positive mood at the end of today’s session, the last trading session in 2015. The equity market capitalization added nearly EGP 1.1 billion (about US$140.96 million) to end at EGP 429.79 billion (on the purchases of the local retail investors) relatively to the previous market capitalization of EGP 428.689 billion. The Egypt equity market was battered during 2015, amid political and…

Nigerian Equity Markets | 31 Dec 2015: Equities Close 2015 with Fireworks …NSEASI Appreciates 3.1%

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Lagos, Nigeria, Capital Markets in Africa — The Nigerian equities market All Share Index (ASI) ended the year on a positive note appreciating 3.1% today to settle at 28,642.3pts. Amid intense political tension, tumbling oil prices and macroeconomic pressures in the domestic and global space, the local market benchmark index depreciated 17.4% in 2015 relative to -16.2% in 2014. Market capitalization improved N297.3bn at the end of today’s trade settling at N9.9tn but down by N1.6tn…

Nigerian Equity Markets | 30 Dec 2015: Equities Surge 3.8% Ahead of New Year’s Eve

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Lagos, Nigeria, Capital Markets in Africa — The local bourse ended today’s trading session higher as against a negative performance yesterday. Thus, the All Share Index (ASI) rose 3.8% settling at 27,777.83pts to trim YtD loss to 19.8%. Market capitalization also expanded by N351.5bn to close at N9.6tn. Today’s performance was largely driven by buy sentiment in bellwether stocks such as DANGCEM (+8.6%) and NIGERIAN BREWERIES (+7.8%) as last minute traders position ahead of the New…

Central Bank of Egypt hikes benchmark rates to curb inflationary pressures

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Cairo, Egypt, Capital Markets in Africa — Central Bank of Egypt raised interest rates for the first time in more than a year in an attempt to curb inflation, according to press release by the central bank. The last change to the benchmark rate was a half percentage point cut in January, when the central bank cited a weaker inflation outlook following the plunge in global energy prices. The Monetary Policy Committee, headed by Governor Tarek…

Morocco’s central bank keeps benchmark interest rate unchanged at 2.50%

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Casablanca, Morocco, Capital Markets in Africa — Bank Al-Maghrib decided to maintains the key Bank Rate at 2.5 percent at the Board of Bank Al-Maghrib last quarterly meeting of the year held on Tuesday, December 22, 2015, according to statement released by the bank. “Taking into account the inflation projection that is consistent with the objective of price stability and the uncertainties surrounding national but also international economic outlook, the board decided to maintain the key…

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