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Stock Market / Finance in Africa

  • Microfinance lenders gaining ground in Côte d’Ivoire

    ABIDJAN, 2017/06/24 A rise in microfinance lending in Côte d’Ivoire has been accompanied by a steady process of consolidation – driven in part by government clean-up efforts.
  • Back on the growth path: a 5.4% GDP increase expected

    SIERRA LEONE, 2017/06/19 Sound macroeconomic policies together with generous support from development partners has helped ensure fiscal and external sustainability following the devastation caused by the Ebola crisis and a drop in iron ore prices Until the outbreak of Ebola in May 2014, Sierra Leone – a country again still emerging from the devastating legacy of conflict – was seeking to become a transformed country with middle-gain status. However, at the same time as West Africa was struck by the deadly epidemic, a disease that ended up killing thousands of people in the region, no other country suffered the shattering socio-economic consequences additional deeply than Sierra Leone.
  • Fitch affirms Ethiopia at ‘B’ with Stable Outlook

    ETHIOPIA, 2017/06/15 The rating agency, Fitch has affirmed Ethiopia’s Long-Term Foreign- and Local Currency Issuer Default Ratings (IDRs) at ‘B’ with a Stable Outlook.   Fitch as well announced June 8, 2017 that the issue rating on Ethiopia’s senior unsecured foreign-currency bonds have been affirmed ‘B’, the country ceiling has been affirmed ‘B’ and the Short-Term Foreign- and Local Currency IDRs as well at ‘B’.
  • In long-awaited move, Egypt central bank scraps currency transfer limit

    EGYPT, 2017/06/15 Egypt’s central bank on Wednesday removed limits on international currency transfers, scrapping a $100,000 monthly limit on individual bank transactions in a long-awaited reform intended to lure back badly needed foreign investment . Egypt put in place strict controls on the movement of foreign currency next its 2011 political uprising in an effort to limit the flight of capital. As part of a three-time$12 billion International Monetary Fund lending program that began late last year, Egypt is obliged to end these controls, which still include a $50,000 per month deposit cap for importers of non-priority goods.
  • Ghana inflation rate falls to 12.6% in May

    GHANA, 2017/06/15 The annual inflation rate fell to 12.6 % in May from the 13.0 % recorded in April, due to general decline in prices for both the food and non-food groups. The rate of inflation is the lowest since December 2013. The monthly change rate for May was 0.7 % compared to the 1.6 % recorded for April.
  • South Africa: Government Welcomes S&P Credit Rating

    SOUTH AFRICA, 2017/06/06 The South African government has welcomed Standard and Poor's decision of maintaining South Africa's long-term local currency deficit ratings of 'BBB-', an investment grade rating. "The affirmation of the long-term foreign currency rating of 'BB+' and the negative outlook on the ratings are as well noted. "While government agrees with S&P that the pace of economic increase is slow and as such, poses risks to fiscal consolidation and rising contingent liabilities, the fiscal policy stance continues to be guided by chapter 13 of the Constitution.
  • Morocco’s Investment Opportunities in Energy Sector Showcased in Lisbon

    MOROCCO, 2017/05/28 Morocco’s investment opportunities in the energy sector were presented before representatives of over 220 Portuguese companies, at a seminar organized on Thursday in Lisbon. The meeting was an opportunity to highlight the enormous potential of Morocco particularly in the strategic field of renewable energy and to stress its importance.
  • King Mohammed VI Chairs Launching Ceremony of New Investment Reform Plan

    CASABLANCA, 2017/05/28 King Mohammed VI chaired, on Monday at the Royal Palace in Casablanca, the launching ceremony of a new investment reform plan and the signing ceremony of several agreements and investment contracts. At the beginning of this ceremony, Minister of Industry, Trade, Investment and Digital Economy, Moulay Hafid Elalamy, presented before the King the new plan which is fully in line with the efforts of the Kingdom to create the conditions for sustainable economic growth, where private investment plays a leading role.
  • Tanzanians need to reform taxation and embrace it

    TANZANIA, 2017/05/04 The Tanzanian government has promised to ensure that Dodoma becomes the country's fully-fledged capital by 2020. There is no better time to reform the tax system, says Anaclet Rwegayura. There is a great transaction of coming and going around Tanzania's new capital, Dodoma, as the once sleepy railroad and highway interchange town becomes full of noise and bustle. Civil servants and their families from the former administrative capital, Dar es Salaam, are making haste to settle down in their new surroundings. Following in their wake are enterprising street vendors, probably as well from Dar es Salaam, who compete for space on the thoroughfares to display their consumer merchandise. Their goal must be to catch part of the clientele moving to the new capital.
  • Wrestling with Moody’s over South Africa

    SOUTH AFRICA, 2017/04/28 New finance minister stares into the eyes of the re-rating monster in a series of top-level, Washington DC meetings. While the new finance minister's engagement with key world financial institutions got under way last week in Washington DC with a number of meetings with the World Bank and International Monetary Fund (IMF), attention was on the conference with Moody’s Investor Services early on Friday morning. Moody’s was always going to be the large one, as any decision to downgrade South Africa’s local currency rating to below investment grade would have huge implications for the flow of world capital to the country.