Africa

    Despite positive Gross Domestic Product prospects for most countries in the region, Sub-Saharan Africa stock markets could face another difficult year due to the continued pressure on commodity prices, electricity challenges and the possibility of continued interest rate hikes by the United States, Pan African investment managers, Imara Africa Securities says.

    Africa will need to fasttrack market integration in order to enhance the potential for initial public offerings, even as the value of flotations on the continent is projected to exceed last year’s. Some 15 IPOs are expected across the continent in 2016.

    Fitch Ratings has downgraded Barclays Africa Group Limited (BAGL) and Absa Bank Limited's (Absa) foreign currency Long-term Issuer Default Ratings (IDR) to 'BBB-' from 'BBB' and the local currency Long-term IDRs to 'BBB-' from 'BBB+'. A full list of rating actions is at the end of this rating action commentary.

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    african indices

    BRVM-CI325.14-0.31%03/10
    BSE DCI10,610.53-03/10
    DSE ASI2,484.57+0.27%03/10
    EGX 3036,900.70+0.36%02/10
    GSE-CI8,410.56+0.53%03/10
    JSE ASI109,778.10+1.56%03/10
    LuSE ASI25,276.85-0.09%03/10
    MASI18,820.18+1.95%03/10
    MSE ASI600,469.03+1.26%03/10
    NGX ASI143,584.04+0.42%03/10
    NSE ASI178.50-0.26%03/10
    NSX OI1,962.75+1.75%03/10
    RSE ASI179.26+0.06%03/10
    SEM ASI2,192.87+0.29%03/10
    TUNINDEX12,288.18-0.78%03/10
    USE ASI1,466.72+0.21%03/10
    ZSE ASI205.16-0.51%03/10
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