Login to your account

Username *
Password *
Remember Me

African markets’ performance was again mixed this week with strong performance by Egypt and Zimbabwe.


Ivory coast economy is growing, and it is seen in its banking assets which reached 9.51 tn CFA francs last year which represents an increase of 11% versus the previous year. Industry experts expect bank assets to reach 13 bn CFA in 2020 should economic growth remain steady. The BRVM added 0.39%.


Ghana Finance minister stated that the country would issue up to $2.5 bn worth of Eurobonds with a coupon in the 7% range in the coming weeks. Ghana’s most recent Eurobond, a senior unsecured bond maturing in 2022, sold at par in September 2016 carrying a 9.25% coupon. The majority of the new issue would be focussed on retiring higher yielding debt, perhaps as much as $1.5 bn to $1.75 bn. Improving economic data with the government focusing efforts on better tax collection support the tightening of yields. Under the new President inflation decelerated to 10.4% from 15.4%. The GSE added 0.94%.

Kenyan Finance Minister expects the economy to rebound to 5.8% growth this year after the election uncertainty and the drought affected last year. The economy should benefit from increased investment in key areas like manufacturing, farming, housing and healthcare. Over the medium term the growth is projected to increase by more than 7%. Inflation which decreased to about 4% is supportive of an improving economic environment. The NSE lost 1.78%.


Zambia’s annual inflation rate accelerated to 7.4% in April from 7.1% a month earlier according to official data. The increase was mainly due to increase in food prices. The LuSE added 0.19%.


South Africa’s central bank warned that the country’s difficulties to rehabilitate state-owned companies could be a threat to its financial stability. The bank warned about the risk of further credit downgrades. SARB cited governance issues, increasing contingent liabilities and poor liquidity as risks to government finances. Solving Eskom situation has been flagged by government officials in the past as key to avoid further deterioration. The JSE lost 0.22%.


We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Use.