The Markets | - Part 216

Zimbabwe Securities Regulator Approves Debt Listing Rules

HARARE, Capital Markets in Africa: Zimbabwe’s securities regulator has approved rules allowing companies to raise debt capital on the nation’s stock exchange, including minimum requirements for amounts and maturities of bond sales. Companies will have to raise a minimum of $1 million with a maturity of at least one year to qualify for a listing, according to draft regulations approved by the Securities and Exchange Commission last month, a copy of which was obtained by Bloomberg…

Ghana Bond Yields Rise Most in Four Months as Deficit Widens

Posted on by The Editorial Team

ACCRA, Ghana, Capital Markets in Africa: Yields on Ghana’s bonds surged the most in four months after Finance Minister Seth Terkper said the West Africa nation will increase spending even as a budget deficit is seen widening due to lower revenues from oil. Yields on Ghana’s $1 billion of Eurobonds due August 2023 rose 35 basis points to 10.06 percent at 2:37 p.m. in the capital, Accra, the most on a closing basis since April 5. The country’s…

South Africa Is a ‘Fire Sale’ for Tourists After Rand Rout

Posted on by The Editorial Team

South Africa, Capital Markets in Africa: Tourists are flocking back to South Africa’s game parks, beaches and vineyards as a weaker currency and easing of visa rules make holidays cheaper and more accessible. The number of visitors to South Africa from outside the continent increased by 19 percent over the five months through May, the Tourism Ministry said on July 20. The surging popularity among travelers from markets including the U.S. and Germany can be largely attributed…

Nigeria Pushes Traders to Book All Naira Deals as Currency Falls

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The Central Bank of Nigeria’s foreign-exchange trading platform has called on banks to disclose all their naira transactions, including those done with customers that weren’t previously booked, as the regulator eases its grip on the currency and tries to attract inflows. Banks should “update all trades irrespective of the exchange rate,” the chief executive officer of Lagos-based FMDQ OTC Securities Exchange, Bola Onadele, said in an e-mail sent to dealers…

Emerging-Market Stocks Become a Smart Bet in a Post-Brexit World

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks are looking like a smart buy as investors begin to view the developed world, from frequent terror attacks to a troubled European Union, as the sometimes riskier proposition. This year, emerging-nation equities have outperformed their developed peers as concern over a hard landing in China subsided and a rebound in commodity prices propped up export-dependent economies. The U.K. vote to quit the world’s biggest trading bloc against a backdrop of…

Egypt to Receive First Tranche of $1.5 Billion Saudi Loan ‘Soon’

Posted on by The Editorial Team

CAIRO, Egypt, Capital Markets in Africa: Egypt will “soon” receive the first tranche of a $1.5 billion loan from Saudi Arabia, an Egyptian minister said, a cash injection that could help to ease a dollar shortage that has weighed on economic growth. The first payment will be about $500 million, Egypt’s Minister of International Cooperation Sahar Nasr said. The loan is one of a package of agreements worth $25 billion signed during Saudi King Salman’s visit to Cairo in April, which…

MTN Sinks as Nigeria Fine, Currency to Cause First-Half Loss

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: MTN Group Ltd. fell in Johannesburg trading as Africa’s largest mobile-phone company said it expects to report a first-half loss after agreeing to pay a record fine in Nigeria. The shares dropped 2.5 percent to 138.13 rand by 11:25 a.m., after earlier slumping as much as 3.8 percent, the most in three weeks on a closing basis. The 330 billion naira ($1.18 billion) settlement in Nigeria, announced in June, will reduce earnings per…

« 1 … 214 215 216 217 218 … 252 »