The Editorial Team |

Corruption on the rise in Africa, 75 million Africans pay a bribe …

LAGOS, Nigeria, Capital Markets in Africa — A majority of Africans say corruption has risen in the past 12 months and most governments are seen as failing in their duty to stop the abuse of power, bribery, and secret deals, according to a new opinion poll from Transparency International. In the report People and Corruption: Africa Survey 2015, part of the Global Corruption Barometer, Transparency International partnered with Afrobarometer, which spoke to 43,143 respondents across…

IFC Invests in Egypt-based Sphinx Glass to Boost Manufacturing Sector

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Cairo, Egypt, Capital Markets in Africa — The International Finance Corporation (IFC), a member of the World Bank Group, is investing in a 20 percent equity stake in Egypt-based Sphinx Glass, to boost the glass manufacturing sector in the region, support the company’s expansion, and spur job creation and growth. Sphinx Glass is a subsidiary of Saudi-based Construction Products Holding Company (CPC). The IFC investment will enable Sphinx Glass to optimize production, improve its energy…

African Stock Market November 2015 Performance: Kenya’s equity gains 4.5%, EGX 30 Index 15.35% lower, Zambian kwacha returns 17.1%

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Lagos, Nigeria Capital Markets in Africa — African stock market performance measured by country equity benchmark index returns ended in negative for the month of November, with five gainers and thirteen losers on the local currency basis. Still on local basis return, the November’s average return of -3.0 percent (relatively to -0.9 percent in October) was recorded across eighteen African stock indices and November monthly returns range from -15.3 percent recorded by the Egyptian equity market (measured by Egyptian EGX 30…

Nigerian Equity Markets | 26 Nov 2015: NSE All Share Index down 0.2%…Interest in Consumer Goods Stocks Garner Momentum

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Lagos, Nigeria, Capital Markets in Africa — The All Share Index shed 0.2% to close at 29,697.12 pts after the positive close (+0.5%) recorded in the previous session. Principally, price depreciation in GUARANTY (-4.5%), ZENITH (-1.8%) and STANBIC (-2.8%) dictated the direction of the benchmark index. At the close of trading, YTD return of the ASI settled at -20.1% with the market capitalization settling at N9.5tn after having lost N16.1bn. Market activity also weakened as volume…

Egypt Equity Markets | 26 Nov 2015: Egypt’s bourse ends on positive note, equities gain EGP 667 million …

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Cairo, Egypt, Capital Markets in Africa —– Egypt Exchange equity trading ended on a positive mood at the end of today’s session. The equity market capitalization added EGP 667 million (about US$85.3 million) to end at EGP 415.592 billion relatively to the previous market capitalization of EGP 414.925 billion. The benchmark index EGX30 gained 36.75 points or 0.58 percent to close at 6,427.82 points. The equal-weighted indexes EGX50 grew by 0.33 percent or 3.66 points to trade at…

Morocco Equity Markets | 26 Nov 2015: Moroccan equity indices down and investors lose MAD 247 million …

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Casablanca, Morocco, Capital Markets in Africa — Casablanca Stock Exchange witnessed negative return at the end of Thursday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went down 0.15 percent to end at 9,108.93 points (with a year-to-date performance to -5.31 percent) with total market capitalization at MAD 458.810 billion (a fall of MAD 247 million or US$28 million relative to previous market capitalization of MAD 459.057). The market activity measured as…

Likelihood of South Africa downgrade to junk remote — S&P

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Johannesburg, south Africa, Capital Markets in Africa — South Africa is unlikely to immediately face credit downgrades that will rank the country’s debt junk at two ratings companies, according to Standard & Poor’s. “Losing two investment-grade ratings, that could be very disruptive” for markets and capital flows … But that’s a very remote possibility”, Konrad Reuss, S&P’s sub-Saharan Africa Managing Director, said at the 13th Annual African Capital Markets Conference in Cape Town on Thursday November 26…

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