The Editorial Team |

Mauritius Equity Markets | 09 Nov 2015 : Equity Market ends in Negative, SEDMEX index 0.07% down …

PORT LOUIS, Mauritius, Capital Markets in Africa — The bear opened the week and the Mauritius official market equity market capitalization ended at MUR 208.736 billion after dropping MUR 200 million (about US$5.2 million) compared to the previous market capitalization of MUR 208.877 billion. In the same bearish mood, the Mauritius All Share Index (SEMDEX index) sagged by 0.07 percent or 1.26 points to close at 1,874,37 and SEM10 index marginally fell by 0.01 points to…

Africa Oil announces farm-out deal with Maersk Oil for Kenya and Ethiopia blocks ….

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Nairobi, Kenya, Capital Markets in Africa — Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has entered into a definitive farm-out agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration…

Nigerian Q3 Earnings Season Review: Macroeconomic Challenges Weigh on Companies Scorecards

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Lagos, Nigeria, Capital Markets in Africa — The year 2015 has been characterized by a cocktail of macroeconomic challenges which trailed the decline in crude oil prices, and the political and policy uncertainties that shaped the direction of the economy so far in 2015. This is reflected in the trend of key macroeconomic indicators such as the slowing economic growth (Real GDP growth slowed to a 10-year low of 2.4% in Q2:2015), the steadily rising…

Côte d’Ivoire’s sovereign ratings upgrade to Ba3 from B1, outlook stable — Moody’s

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — Moody’s Investors Service (Moody’s) has today upgraded the long-term ratings of Côte d’Ivoire to Ba3 from B1. The short-term issuer rating of NP was affirmed. The outlook on the long-term ratings has changed to stable from positive. Côte d’Ivoire’s local currency country ceilings for bonds and deposits remain at Baa3, and its foreign currency country ceilings for bonds and deposits also remain Baa3/P-3. Rating RationaleThe first driver…

African capital markets play an important role in fostering African economic growth — Sunil Benimadhu, CEO, Stock Exchange of Mauritius

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Sunil Benimadhu, Chief Executive of the Stock Exchange of Mauritius (SEM) gives an exclusive interview to Capital Markets in Africa and elaborates on aspects of capital markets development in Africa. Sunil has played an instrumental role in uplifting the operational, technical and regulatory infrastructure of the SEM and contributed to its emergence as one of the leading Exchanges in Africa. He is a regular speaker on emerging markets and on African markets in international stock exchange conferences To…

Africa Equity Weekly | 06 Nov 2015: Ugandan Stocks push African Stock Markets into Negative region despite gains in six markets …

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Lagos, Nigeria, Capital Markets in Africa — The African equity markets ended in the red district at the end of Friday 06 November 2015, out of the eighteen African equity indices six ended in positive district and eleven in the negative region (Illiquid Swaziland All Share index remained unchanged to end at 312.38 points) compared to the previous week ending Friday 30 October 2015. The overall average return of the eighteen stock indices was -0.6 percent week-on-week…

Nigeria’s Access Bank to remain resilient over next 12-18 months, despite significant challenges

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Lagos, Nigeria, Capital Markets in Africa — Nigeria’s Access Bank Plc has high capital levels that boost its resilience in the face of weaker Nigerian economic growth that has led to potential asset quality pressure and weakened liquidity conditions, Moody’s Investors Service said in a report on November 5th 2015. “Weaker economic growth in Nigeria and tighter liquidity within its banking system are among the challenges exerting pressure on Access Bank’s core profitability,” said Akintunde…

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