African markets

How African markets are embracing new trends to prepare for the future

Since the onset of Covid-19, financial markets around the world have been plagued by challenges and African markets have not been immune to these headwinds, says Jeff Gable, Head of Macro Research and fixed income securities at Absa Group. We have seen rising interest rates, growth hampered by slow vaccination campaigns and volatile commodity prices. […]

African markets

Sanlam and Allianz join forces to create the African insurance giant

sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across the Africa to create the largest pan-African non-banking financial services entity on the continent. This combination means that […]

African markets

Belgium becomes largest coffee market in Kenya

Belgium overtook America as Kenya’s top export market for coffee for the first time in a decade. The European nation imported Kenyan coffee worth 6.5 billion shillings in the year to June 2021. That was almost double what it bought the previous year, surpassing the United States as the first buyer of the drink. The […]

African markets

USGC: Workshop promotes ethanol blending in African markets

By US Grains Council | May 03, 2022 In cooperation with the African Refiners and Marketers Association, the US Grains Council recently hosted a forum with African industry players and government officials to discuss finished fuel standardization, the path to domestic production and a case study of specific markets […]

African markets

Jamaica Stock Exchange partners with Ghana Stock Exchange

The Jamaica Stock Exchange (JSE) has entered into a partnership with the Ghana Stock Exchange (GSE), which will see the capital markets of Jamaica and Ghana expand their products and services to investors in both countries. This is facilitated by a Mutual Recognition Memorandum of Understanding (MOU), which was signed by representatives of both entities […]

African markets

Digital Assets and African Markets

Financial market volatility Getty Opportunities to invest in Africa have been missed in every cycle as investor fear of the unknown outweighs market fundamentals and clear signs of growth. While there is certainly risk and volatility in African markets, it is often not calculated or approached in the same way as risk and volatility in […]

African markets

Ghana’s economy grew by 5.4% in 2021 – ESG

Ghana’s economy grew by 5.4% in 2021, much more than the 0.4% recorded in 2020, a period during which the COVID-19 pandemic severely affected the global economy. Without oil, the economy recorded a Gross Domestic Product (GDP) growth rate of 6.9% According to a provisional estimate by the Ghana Statistical Service, only 10 countries in […]

African markets

Cooperation with African markets could boost the fashion industry

VIETNAM, April 18 – A production line at Tiên Hưng Garment and Textile JSC in the northern province of Hưng Yên. Trade relations between Việt Nam and Africa had not matched its prospects, especially in the fashion industry. — Photo VNA/VNS Phạm Kiên HÀ NỘI — Although there has been significant growth in recent […]

African markets

Standard Chartered Bank exits major African markets

Standard Chartered Plc announced the start of a strategic move to completely exit certain markets in Africa and the Middle East. The bank in a statement said the markets are Cameroon, Gambia, Angola, Zimbabwe, Sierra Leone and two other markets in the Middle East. The global banking group said the planned exits will allow it […]

African markets

Kenya Airways secures another 36.6 billion shillings government bailout

The Treasury will offer Kenya Airways (ENS: KQ) another bailout of 36.6 billion shillings during the year beginning in July as part of efforts to support the national carrier as it recovers from the Covid-19 travel crisis. The allocation, contained in budget documents tabled in parliament, comes weeks after MPs approved a 20 billion shilling […]

African markets

UK’s Standard Chartered to exit 5 African markets

The UK banking group Standard Chartered is planning to exit Angola, Cameroon, Gambia, Sierra Leone and Zimbabwe. It will also leave its consumer, private and small business banking operations in Tanzania and Côte d’Ivoire, focusing instead on corporate, commercial and institutional clients. Standard Chartered will refocus its Africa and Middle East franchise on what it […]

African markets

Standard Chartered leaves several African markets

Standard charter leaves six African countries and closes its consumer banking operations in two others to focus on more profitable markets. The bank announced that it would close its operations in Angola, Cameroon, Gambia, Jordan, Sierra Leone and Zimbabwe as well as in Lebanon. It will also cease offering retail and corporate banking services in […]

African markets

EFG Hermes Concludes Opinion on DEWA’s $6.1 Billion IPO

By Arab finance Published: April 13, 2022 5:11 p.m. The investment banking division of EFG Hermes Holding (HRHO) has completed its notice of the Dubai Electricity and Water Authority’s (DEWA) $6.1 billion initial public offering (IPO) on the Dubai Financial Market (DFM), according to an emailed press release April 12. The transaction follows EFG Herme’s […]

African markets

African Markets – Factors to Watch April 12

World map with charts and graphs as symbols of global finance NAIROBI, April 12 (Reuters) – The following corporate announcements, forecast economic indicators, debt and currency market movements and political events could affect African markets on Tuesday. EVENTS: Uganda’s central bank is due to publish its benchmark rate for the next two months. The rate […]

African markets

Lemonade Finance expands to seven new African markets

By Kester Kenn Klomegah For the second round this year, the Russian Chamber of Commerce and Industry and the Coordinating Committee for Economic Cooperation with African Countries (AfroCom) brought together business leaders, urging them to look at the African market with great interest and to work more systematically and regularly. The African market is competitive […]

African markets

Lemonade Finance expands to seven African markets

African diaspora-focused fintech startup Lemonade Finance has expanded user transaction options to Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda and Uganda. Initially, users could only send money to Nigeria, Ghana and Kenya at affordable rates on the Lemonade Finance platform. The new extension provides users with more alternatives to transact across countries. Ridwan Olalere and […]

African markets

Zimbabwe: Dairibord targets the South African market

Dairibord Holdings intends to start exporting to South Africa as it seeks to increase its exports and generate more foreign exchange needed for key imported raw materials and equipment. The group’s chief executive, Antony Mandiwanza, told an analyst briefing on Wednesday that the group aims to drive more products to cash sales as suppliers now […]

African markets

itel Home, a new resolution to dominate African markets, families

In what looks like a positioning effort to domesticate itel brands to further appeal to African markets, itel has announced itel Home, a concept that showcases its new and improved product portfolio of smartphones, TVs, mobile accessories and home appliances. to consumers across the country. The brand continues to prioritize giving its customers control, functionality, […]

African markets

UPS, Jumia partner for deliveries to African markets

[Stay on top of transportation news: Get TTNews in your inbox.] Jumia Technologies AG has jumped the most in about 20 months after a deal that will see UPS Inc. use the pan-African e-commerce company’s distribution network to expand on the continent. Jumia’s U.S. certificates of deposit jumped 30% at 11:07 a.m. EDT on the […]

African markets

Main Takeaways | African Markets and Opportunities for Cross-Border Renewable Energy Investments | McDermott Will & Emery

On March 30, 2022, Carl Fleming and Emeka Chinwuba, partners in McDermott’s Energy and Project Finance Practice Group, hosted Dr. Abdelilah Chami, Head of Sustainability for North and Central Africa at Enel Green Power, and Jay Katatumba, Chief Investment Officer at Africa50 Infrastructure Fund, for a lively discussion on Africa’s renewable energy space and cross-border […]

African markets

Main Takeaways | African markets and opportunities for cross-border renewable energy investments

Click here to watch the video. On March 30, 2022, Carl Fleming and Emeka Chinwuba, partners in McDermott’s Energy and Project Finance Practice Group, hosted Dr. Abdelilah Chami, Head of Sustainability for North and Central Africa at Enel Green Power, and Jay Katatumba, Chief Investment Officer at Africa50 Infrastructure Fund, for a lively discussion on […]

African markets

888 set to launch iGaming in four African markets in 2022

888 is eyeing a huge new market after forming 888AFRICA, a joint venture that is expected to launch iGaming in four African markets in 2022. [Image: Shutterstock.com] Strategic expansion in Africa Global iGaming company 888 Holdings has formed a joint venture to launch its sports betting and iGaming offerings in major African regulated online betting […]

African markets

Petpooja expands its footprint and makes inroads into the UAE and South African markets

Previous story: IIITD partners with AI-based research assistant RAx Petpooja expands its footprint and makes inroads into the UAE and South African markets Posted on March 30, 2022 Realizing the immense potential of the UAE and South African markets, Petpooja has expanded its presence and already has 10% of its customer base in these countries. […]

African markets

Livingston rum distillery will target ‘neglected’ African markets

Livingston-based Matugga Distillery has exceeded its fundraising target of £300,000 with more than two weeks remaining in its crowdfunding campaign. Owned by chief executive Jacine Rutasikwa and her Ugandan-born husband Paul, Matugga has recruited more than 200 new shareholders through its Crowdcube campaign. With only 15 days left to run, the pair hopes to raise […]

African markets

[Webinar] African Markets and Cross-Border Renewable Energy Investment Opportunities – March 30, 12:00 – 12:30 p.m. EDT | McDermott Will & Emery

March 30, 2022 12:00 p.m. – 12:30 p.m. EDT The transition to renewable energy in Africa has progressed impressively over the past decade, with many countries striving to increase their renewable energy capacity in recent years. Forecasts by the International Renewable Energy Agency (IRENA) indicate that with the right policies, regulations, governance and access to […]

African markets

The Luxembourg Stock Exchange and the Rwanda Stock Exchange sign a memorandum of understanding

At a special Ring the Bell ceremony held in Luxembourg earlier today, attended by Rwanda’s Ambassador to Belgium and Luxembourg, His Excellency Ambassador Sebashongore, the Luxembourg Stock Exchange (LuxSE) and the Rwanda Stock Exchange (RSE) came together to celebrate the signing of a Memorandum of Understanding (MoU) between the two institutions. The MoU aims to […]

African markets

Equity Group to pay record dividend of 11.3 billion shillings

Equity Group is set to pay shareholders a record dividend of 11.3 billion shillings or 3 shillings per share for the year ending December, when its net profit nearly doubled to 39.1 billion shillings. The lender reinstated the dividend after freezing payouts in 2019 and 2020 to conserve cash following the Covid-19 pandemic. Equity’s last […]

African markets

Lusaka Securities Exchange launches SME portal

The Lusaka Stock Exchange (LuSE) has launched the LuSE Gem Portal, an innovative digital platform primarily aimed at providing small and medium-sized enterprises (SMEs) with access to capital to invest in the growth of their businesses. LuSE Chair Kayula Siame said that the Lusaka Stock Exchange, together with its partners, is pleased to introduce the […]

African markets

African Energy Forum | african markets

The Africa Energy Forum 2022 will be held from June 21 to 24 in Brussels under the theme ‘Africa for Africa: Building the Energy for a Just Transition‘, before starting our journey to Nairobi, Kenya, where we will host our 25th Africa Energy Forum. Once again, we bring together governments, utilities and regulators with development […]

African markets

Investing in African Mining Indaba 2022

Investing in African Mining Indaba (Mining Indaba) is solely dedicated to the successful capitalization and development of mining interests in Africa. Successor for over 27 years, Mining Indaba has a unique and broad perspective of the African mining industry, bringing together visionaries and innovators across the entire value chain. Additionally, Mining Indaba continues to support […]

African markets

Kenya: Safaricom takes 99.9% of the mobile money market

Safaricom has raised its control of the mobile money market to 99.9% as part of regulators’ efforts to open up its M-Pesa platform to interface with those of rivals Airtel Kenya and Telkom Kenya in a bid to enhance competition in the sector. Data from the Central Bank of Kenya (CBK) shows that M-Pesa has […]

African markets

Fitch confirms Mozambique to the “CCC”

Fitch Ratings confirmed Mozambique’s Long-Term Foreign Currency Issuers (IDR) default rating at ‘CCC’. Fitch generally does not assign Outlook or apply modifiers for sovereigns with a rating of “CCC” or less. A full list of rating actions can be found at the end of this rating action commentary. Main rating factors Substantial credit risk: Mozambique’s […]

African markets

Three new ETFs to list on the Zimbabwe Stock Exchange

The Securities and Exchange Commission of Zimbabwe (SecZim) expects at least three new exchange-traded funds (ETFs) to list on the Zimbabwe Stock Exchange (ZSE) this year as capital markets continue to grow. ETFs are baskets of different types of investments such as stocks, commodities and bonds that are combined into a single entity, which then […]

African markets

Pakistan ready to explore African markets

By Maureen Okon The Pakistani government says the ongoing engineering and healthcare exhibition in Punjab is a platform to connect with African markets and boost the economy. The Governor of Punjab, Mr. Mohammed Sarwar, said this on Friday in Lahore at the inauguration of a three-day Engineering and Health Expo 2022, which will be held […]

African markets

Tanzania, Uganda and South Africa are the main African markets for remittances to Kenya.

However, compared to the same period last year, remittances from the diaspora increased by 21.7%, according to the latest data from the Central Bank of Kenya (CBK). CBK data showed cumulative inflows for the 12 months ending January amounted to $3.778 billion (427 billion shillings) compared to $3.113 billion (351.4 billion shillings) during the same […]

African markets

7 state entities shortlisted to be listed on the Ghana Stock Exchange

By Ghanaian web Published: February 17, 2022 4:05 p.m. The Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah, said about 7 public institutions have been shortlisted for listing on the stock exchange this year. This comes after two committees – steering and technical [committees] – had to review the performance of some thirty […]

African markets

M-Pesa transaction value increases further in Q3

Safaricom (NSE:SCOM) saw further growth in the value of M-Pesa transactions in the quarter ended December, boosting revenue for the telecom operator which now derives the bulk of its sales from the financial service. M-Pesa’s performance during the reporting period was disclosed by Safaricom’s parent company, Vodacom Group. “Our M-Pesa platform, including Safaricom, continues to […]

African markets

BUA Foods Plc steers company away from suspension of sugar sales

BUA Foods Plc issued a disclosure excluding the company from any arrangement to create an artificial shortage of sugar in the country by the decision of two major sugar producers to suspend sales. According to the notice, the company’s disclosure follows a series of calls from customers seeking information about the company’s decision to suspend […]

African markets

Maverick Media Monitoring launches MediaPlus in 16 African markets

Maverick Media Monitoring’s MediaPlus, a real-time media monitoring and SaaS platform, expands its reach of new innovative means of media monitoring to 421 television and radio stations, measuring and analysis of business spending and media advertising earnings in 16 African markets. A statement from the firm listed the countries as Ghana, Ivory Coast, Senegal, Mali, […]

African markets

Maverick launches MediaPlus in 16 African markets

Maverick Media Monitoring’s MediaPlus, a real-time media monitoring and SaaS platform, expands its reach of innovative new ways of media monitoring to 421 TV and radio stations, measuring and analyzing business spend and earnings media ads in 16 African markets. These are Ghana, Côte d’Ivoire, Senegal, Mali, Burkina Faso, Benin, Togo, Guinea Conakry, Congo DRC, […]

African markets

Nigerian Exchange highlights its performance in 2021 and provides outlook for 2022

Nigerian Exchange Limited (NGX or The Exchange) hosted its 2021 Annual Market Recap and 2022 Outlook in conjunction with Renaissance Capital (RenCap) today, 03 February 2022. The virtual event facilitated conversations around The Exchange, Nigeria’s largest capital market and the economy as a whole with presentations from Chief Executive Officer, NGX, Temi Popoola, CFA, and […]

African markets

Fitch confirms that Bank of Africa is “BB”; Stable outlook

Fitch Ratings confirmed Bank of Africa (BVC: BOA) Long-term issuer default ratings in foreign and local currency (IDR) at ‘BB’ with a stable outlook. Fitch also affirmed BOA’s sustainability rating (VR) at “bb-” and the national long-term rating at “AA- (mar)” with a stable outlook. Fitch Ratings has removed BOA’s support rating of ‘3’ and […]

African markets

Zimbabwe Stock Exchange suspends trading in Zeco shares

The Zimbabwe Stock Exchange (ZSE) yesterday suspended trading in Zeco Holdings shares (ZSE: ZECO) citing a violation of its listing requirements after the company entered into a large transaction without the required approvals. Justin Bgoni, ZSE’s chief executive, said the transaction, the effect of which was to change the issuer’s sphere of activity, was done […]

African markets

Moody’s downgrades Ghana to Caa1; stable outlook

Through Moody’s Published: 04 February 2022 20:55 Moody’s Investors Service (“Moody’s”) today downgraded the long-term issuer and senior unsecured debt ratings of the Government of Ghana to Caa1 from B3 and changed the outlook from negative to stable. Moody’s also downgraded the senior unsecured MTN program ratings to (P)Caa1 from (P)B3 and the senior unsecured […]

African markets

Zimbabwe: Tanganda Tea guns for VFEX after ZSE return

TANGANDA Tea Company Limited On Thursday, Managing Director Timothy Fennell outlined his vision for listing on the Victorian Foreign Currency Exchange (VFEX) as a tea producer returned to the Zimbabwe Stock Exchange (ZSE) after a 14-year hiatus. Fennell told NewsDay Business after re-listing that Tanganda’s board opted for ZSE first, while studying liquidity trends on […]

African markets

Nigeria: eNaira records 694,000 downloads, 95 days after launch

Through Jeremiah Ifeanyi | Nairametry Also available: FR Published: January 31, 2022 10:31 am eNaira, the digital currency issued by the Central Bank of Nigeria (CBN), recorded 694,000 downloads in the 95 days since its launch. This was revealed by sources close to the information at the central bank. eNaira, also recorded less than 10% […]

African markets

Volvo to expand in Egypt with fully electric vehicles

Through Arab finance Published: January 30, 2022 2:52 p.m. Ezz Elarab Automotive Group, the sole importer and exclusive distributor of Volvo cars in Egypt, recently announced the launch of the Swedish brand’s latest showroom at One Katameya in eastern Cairo. Gerhard Kreindl, head of retail and business development for Volvo Cars in Europe, Middle East […]

African markets

Airtel Africa joins the FTSE 100 index

Through TZ Daily News Also available: FR Published: January 29, 2022 10:18 am Index manager FTSE Russell has announced that Airtel Africa plc (NGX:AIRTELAFRI, LSEG: AAF) will join the Financial Times Stock Exchange 100 Index (FTSE 100) on Monday, January 31, 2022. Through its mobile telecommunications and mobile money services, Airtel Africa plc is transforming […]

African markets

MSC to acquire Bolloré Africa’s logistics business for $6.4 million

The global shipping company Mediterranean Shipping Company (MSC) is preparing to acquire Bolloré Africa Logistics (BRVM: SDSC) business unit for $6.4 billion. “The Bolloré Group has granted MSC Group exclusivity until March 31, 2022 to allow MSC, after an additional phase of due diligence and contract negotiations, to submit a put option,” said MSC Group, […]

African markets

Fitch upgrades Angola to ‘B-‘; Stable outlook

Fitch Ratings has upgraded Angola’s long-term foreign currency issuer (IDR) default rating to “B-” from “CCC”. The outlook is stable. A full list of rating actions can be found at the end of this rating action commentary. Main rating factors Angola’s IDR upgrade reflects the following key rating factors and their relative weights. High There […]

African markets

Nigerian B2B startup AlphaCX provides customer support solutions for African markets

Customer service remains a huge challenge in Nigeria, with businesses, support agents and customers having a fair share of the problems. Companies buy expensive but complex solutions that are not user-friendly and negatively impact the ability of support teams to quickly log and track customer issues. Failure to satisfy customers ultimately results in loss of […]

African markets

Kenyan BNPL startup Lipa Later targets more African markets after raising $12m – TechCrunch

Lipa Later, a Kenyan tech-led consumer finance platform, plans to expand into new markets in Africa after raising $12m in pre-Series A funding. The equity and debt financing round was led by Cauris Finance, Lateral Frontiers VC (one of Lipa Later’s early investors) and GreenHouse Capital, with participation from SOSV IV LLC, Sayani Investments and […]

African markets

AFSIC – Investing in Africa

AFSIC is considered the largest annual event bringing together African investors and investments taking place outside Africa and has become one of the most important investment channels in Africa. With the support of AFSIC’s sophisticated African Investment Dashboard, AFSIC is fully focused on bringing together African business leaders and Africa’s most important investors and negotiators […]

African markets

Dean Akinjobi at BOSE: Betting Companies Should Look to African Markets to Engage Audiences

Following the revisions of the Gambling Act of 2005, an increase in sponsorship in the digital space is starting to emerge. Speaking to SBC reporter Jessie Sale at Betting on Sports Europe, Dean Akinjobi, CEO of Football media, shared his thoughts that if a sports betting sponsorship ban takes place, these companies will need to […]

African markets

Binance Gets Entry into Gulf and African Markets Via Bahrain

Binance is set to enter the Gulf region following approvals from Bahrain. The main cryptocurrency exchange can now be a legal cryptocurrency service provider in the country after recently received in-principle consent from the Central Bank of Bahrain (CBB). The green light for the world’s first stock exchange also marks a milestone, signaling its first […]

African markets

Kenya: Treasury to issue new Eurobond next week

Kenya plans to launch two new Eurobonds over the next six months to fund the budget and repay part of the first sovereign bond borrowed in 2014. The Treasury told the International Monetary Fund (IMF) that it plans to launch an issue before the end of this month as part of the external component of […]

African markets

Lectera plans to conquer African markets with a rapid education model

Lectera, a leading international education platform, celebrates an anniversary with customer growth and plans to conquer African markets with its model of rapid education and rapid results. Launched in the summer of 2020, Lectera claims 180,000 users in 50 countries. According to CEO Mila Semeshkina, Lectera gained more than 50,000 students one month after its […]

African markets

Pipit Global enters 12 new African markets with Cellulant

Download logo Pipit Global international cash payment platform and pan-African payment company Cellulant (https://Cellulant.io/) extended their partnership agreement to eighteen countries in sub-Saharan Africa. The partnership will see the companies providing B2B and B2C payment services to existing and emerging financial institutions, e-commerce merchants, billers and billing platforms, mobile money providers and e-wallets, providers of […]

African markets

Wolftank operates successfully in African markets thanks to strong partners

Wolftank industrial coatings have been used on the African continent for many years thanks to a strong network of distribution partners. In countries like Morocco, Nigeria, Egypt and many others in the South, Wolftank solutions are often requested by both large energy companies and local retailers. Wolftank, a global partner Wolftank provides its industrial coating […]

African markets

Meikles postpones plans to list on the Tanganda Zimbabwe Stock Exchange

Through The ZW Chronicle Posted: December 13, 2021 4:21 PM DIVERSIFIED Group, Meikles Limited (ZSE: MEIK) said on Friday plans to unbundle and list its subsidiary Tanganda Tea Company on the Zimbabwe Stock Exchange (ZSE) pending an agreement with the Zimbabwe Revenue Authority (Zimra) on the tax on capital gains. Tanganda, the country’s largest tea […]

African markets

Bindura Nickel Corporation exits Zimbabwe Stock Exchange and considers listing on VFEX

ZIMBABWE’s largest nickel mine, Bindura Nickel Corporation (ZSE: CONNECT) the shares will cease trading on the Zimbabwe Stock Exchange (ZSE) today to allow a smooth migration process to the Victoria Falls Stock Exchange (VFEX) denominated in US dollars. BNC is expected to be listed on VFEX on December 19, 2021, subject to shareholder approval at […]

African markets

Kenya: mobile loan rates now under CBK control

The Central Bank of Kenya (CBK) will start controlling interest rates on digital loans under a new law that aims to protect Kenyan borrowers from predatory lending. President Uhuru Kenyatta enacted the Central Bank Law of 2021 on Tuesday afternoon, making legal changes that for the first time put digital lenders under the supervision of […]

African markets

Treat yourself as MTN Uganda goes public

About 21,394 people in Uganda became shareholders of MTN Uganda (USE: MTNU) following the conclusion of the company’s initial public offer (IPO). MTN Uganda was listed on the Uganda Securities Exchange (USE) yesterday after raising Shs 535.9 billion (or $ 151 million) when it went public. This represents 60% of its target amount after the […]

African markets

South African Markets – Factors to Watch for December 7

JOHANNESBURG, Dec. 7 (Reuters) – The following scheduled economic events, stock market and currency movements could affect South African markets on Tuesday. ECONOMIC EVENTS Reserve data Register now for FREE and unlimited access to Reuters.com Register now Government bond auction GDP T3 SOUTH AFRICAN MARKETS The South African Rand on Monday confirmed signs that the […]

African markets

South African Markets – Factors to Watch December 3

The following scheduled economic events, stock market and currency movements could affect South African markets on Friday. COVID-19[female[feminine South Africa’s Department of Health is holding its weekly briefing on COVID-19 infections and vaccine deployment in the country. Register now for FREE and unlimited access to Reuters.com Register ECONOMIC EVENTS – The IHS Markit Purchasing Manager’s […]

African markets

South African Markets – Factors to Watch for November 30

The following scheduled economic events, company announcements, stock market and currency movements could affect South African markets on Tuesday. ECONOMIC EVENTS – South Africa’s central bank will release October money supply data at 0600 GMT. Register now for FREE and unlimited access to Reuters.com Register – Statistics South Africa releases third quarter unemployment figures at […]

African markets

South African markets sink into new variant of COVID-19

A street changer counts the South African Rands in Harare, File. REUTERS / Philimon Bulawayo Register now for FREE and unlimited access to Reuters.com Register The rand falls to its lowest since October 2020 Hotel stocks lead stock fall Ten-year government bond yield exceeds 10% JOHANNESBURG, Nov.26 (Reuters) – The South African rand hit its […]

African markets

South African markets tumble on new variant of COVID-19

Aquote dds actions JOHANNESBURG, November 26 (Reuters) – The South African Rand dipped below 16.00 per dollar for the first time this year Friday because, with investors bewildered by the discovery of a significant variant of the coronavirus in the country, government bonds and stocks also fell. The inventory declines were driven by a sharp […]

African markets

Flour Mills of Nigeria acquires Honeywell Flour Mills

Nigeria flour mills (FMN) and Honeywell Group Limited (HGL) today announced in a press release that they have signed an agreement under which the flour mills will acquire the holding company of the Honeywell group, Honeywell Flour Mills PLC (HFMP). According to the press release, Honeywell Group Limited has agreed to sell a 71.69% stake […]

African markets

South African Markets – Factors to Watch November 24

JOHANNESBURG, November 24 – The following expected economic events, company announcements, equity and currency market movements could affect South African markets on Wednesday. COMPANIES Crookes Brothers (CKSJ.J), Acsion (ACSJ.J) and Lewis Group (LEWJ.J) will release or have released their half-year results. Tsogo Sun (TGOJ.J) will report its second quarter results. Arrowhead Properties has published its […]

African markets

“The potential of the great Bangladesh, African markets remain unknown”

Posted: Nov. 18, 2021, 7:53 p.m. | Update: Nov. 19, 2021, 3:41 p.m. South African Minister of International Relations and Cooperation Dr Grace Naledi Mandisa Pandor said the great potential of the African and Bangladeshi markets remains unrecognized. “Africa’s potential has not yet been recognized in Bangladesh. Bangladesh’s potential has not been recognized by the […]

African markets

Liquid Intelligent Technologies Launches OneVoice for Cloud PBX in Six African Markets

Liquid smart technologies (Liquid.Tech), a company of Cassava Technologies, a pan-African technology group, is today launching the OneVoice for Cloud PBX offering in six key African markets. It’s part of the organization’s investment as it partners with its clients on their digital transformation journeys that have accelerated due to the pandemic. The OneVoice for Cloud […]

African markets

DSE: Five Best Stocks to Buy in Tanzania

The Dar Es Salaam Stock Exchange, or DSE, is the official stock exchange of Tanzania which was established in 1994 under the 1994 Capital Markets and Securities Act (CMS). Originally incorporated as a private limited company, DSE is a non-profit organization that began operating in 1998. According to the review site Asktraders.com, DSE offers individual […]

African markets

South African Markets – Factors to Watch for November 3

The following scheduled political events, business announcements, stock market and currency movements could affect South African markets on Wednesday. POLITICAL EVENTS – South Africa continues to count the votes after the municipal elections on Monday, with partial results showing Tuesday that the ruling African National Congress (ANC) was on track to ensure its share of […]

African markets

Access Bank acquires Atlas Mara in Zambia

Through Lusaka timetable Also available: EN Published: October 27, 2021 1:22 p.m. Access the Bank Group (NGX: ACCESS, GSE: ABG), directly after the acquisition of Cavmont Bank in Zambia, announced its intention to expand its Zambian business by announcing a “merger” with Atlas Mara. The West African bank has announced that it is merging its […]

African markets

Zimbabwe: Tanganda Tea Company prepares to be listed on the ZSE

TANGANDA Tea Company Limited is set to list on the Zimbabwe Stock Exchange (ZSE) in early December following a spin-off from parent company, Meikles Limited (ZSE: MEIK), the two companies said in separate statements yesterday. Zimbabwe’s most recognized tea brand said in a pre-listing statement that preliminary internal approvals were obtained in March, while the […]

African markets

Nigeria launches eNaira, Africa’s first central bank digital currency

(Xinhua) – Nigerian President Muhammadu Buhari on Monday launched eNaira, the country’s central bank (CBDC) digital currency, becoming the first African country to introduce an official digital currency. With the launch of eNaira in Abuja, Buhari noted that Nigeria is also one of the first in the world to introduce digital currency to its citizens. […]

African markets

African markets must improve ESG integration

The Absa Africa Financial Markets Index assesses the development of financial markets in 23 countries and highlights the economies offering the most favorable environment for efficient markets. The aim is to show the current positions of countries, as well as how economies can improve market frameworks to enhance investor access and sustainable growth. The index […]

African markets

Fitch Rate Oragroup SA ‘B-‘; Stable outlook

Fitch Ratings awarded Oragroup SA (Oragroup) a long-term issuer default rating (IDR) of ‘B-‘ with a stable outlook and a viability rating (VR) of ‘b-‘. A full list of ratings is provided below. Main rating factors IDRS and VR Oragroup is a Togo-based bank holding company (holdco), which operates a group of wholly-owned banking subsidiaries […]

African markets

Moody’s downgrades Ethiopia to Caa2; negative outlook

Through Moody’s Published: October 20, 2021 5:39 p.m. Moody’s Investors Service (“Moody’s”) today downgraded the Ethiopian government’s senior long-term, unsecured issuer rating to Caa2 from Caa1 under review for downgrade. The outlook is negative. This concludes the decommissioning review initiated on May 17, 2021. The downgrade to Caa2 reflects increased default risks. In the absence […]

African markets

Pandemic hits African markets but leaves room for optimism

An annual ranking of major African financial markets reflects the impact of the Covid-19 pandemic… An annual ranking of major African financial markets reflects the impact of the Covid-19 pandemic but also shows that proactive governance can create economic resilience and that there is growing interest in green finance. African financial markets are feeling the […]

African markets

MTN opens largest Ugandan IPO

MTN Uganda Limited is pleased to announce the opening of its Initial Public Offering (IPO) of 20% of its common stock, following approvals from the Capital Markets Authority of Uganda (CMA) and the Uganda Securities Exchange (USE ). The secondary sale of 4.4 billion shares by the MTN group will be done at an offer […]

African markets

Fawry announces investment in Sudanese classifieds and alsoug marketplace platform

Wildcat (the “Company”, FWRY.CA on the Egyptian Exchange), Egypt’s leading provider of electronic payment solutions and digital banking services, announced today that it has completed an investment in alsoug.com, the largest platform and Sudan’s online classifieds marketplace, to help develop alsoug’s new fintech platform, Cashi. Fawry has acquired a strategic minority stake in holding company […]

African markets

Namibia: Paratus declares dividend of 20 cents for 2021

Listed telecommunications company Paratus Namibia Holdings Limited has declared a final dividend of 10 cents for fiscal 2021. It will be the highest dividend since the company’s IPO in 2017 and will be paid on November 12 of this year. This brings the annual dividend that the company partially paid and declared to 20 cents […]

African markets

Central Bank of Seychelles keeps rate on hold, economy yet to recover

The Central Bank of Seychelles (CBS) has kept its monetary policy rate (MPR) stable for the fourth quarter, saying the economy has yet to fully recover from the effects of the COVID-19 pandemic despite a recovery in the economic activity. CBS left its key rate at 2.0% after cutting it, and the Global Interest Corridor, […]

African markets

Angola’s central bank postpones policy decision to September 30

Through Central Bank News Published: September 28, 2021 10:39 am The Central Bank of Angola has postponed the final decision and the announcement of its monetary policy decision to Thursday, September 30 from today, as planned. The Bank of Angola (BOA), which raised its rate in July for the first time since November 2017, said […]

African markets

Melcom Group of Companies acquires Pizza Hut in Ghana

GNA – Melcom Group of Companies, the diversified business conglomerate, has announced its entry into the Quick Service Restaurant (QSR) business by acquiring the international franchise rights for Pizza Hut in Ghana. A statement released by the Melcom Group of Companies, copied to the Ghana News Agency, said the franchise would be operated by the […]

African markets

KCB Group spends 6.3 billion shillings to buy a Rwandan bank

Through Victor Jouma | Business Daily Africa Published: 02 September 2021 15:35 KCB Group spent 6.3 billion shillings to acquire Banque Populaire du Rwanda Plc (BPR) from London-listed Atlas Mara Limited and other investors. The country’s second-largest bank by assets completed the deal on August 25, paying Atlas Mara $33 million (3.6 billion shillings) to […]

African markets

Fitch upgrades Gabon to ‘B-‘; Stable outlook

Fitch Ratings has upgraded Gabon’s Long-Term Foreign Currency (LTFC) Issuer Default Rating (IDR) to “B-” from “CCC”. The outlook is stable. A full list of rating actions is provided below. Main rating factors The upgrade reflects a recent easing of liquidity pressures due to higher oil prices and a new IMF program. It also reflects […]

African markets

Ghanaian fintech Waya sees strong growth propelling it into other African markets

Ghana-based payments startup Waya is seeing 20% ​​monthly growth in its three existing markets, prompting it to launch expansion activities in three other African countries. Founded in 2018 after co-founder Delali Anku-Adiamah took on the challenge of sending money back to Ghana while traveling to Africa, Waya provides seamless local and international payments and transfers […]

African markets

Tanzania: Sale of CRDB Bank shares at half the target price

EFG Hermes, an Egyptian financial services company, has doubled its buy rating for CRDB Bank (EHR: CRDB) thanks to the improving macroeconomic history of the country. The company before President Samia Suluhu Hassan came to power said the target purchase price was around 220/- but returned to 453/- a share on improving profitability. The company […]

African markets

Namibia: Meatco wants to conquer African markets

The state-owned meat processing and marketing entity, the Meat Corporation of Namibia (Meatco), is determined to unlock its potential in African and Middle Eastern markets. These markets are expected to be served by the Group’s operations in the Northern Communal Area (NCA), where strategic interventions are being implemented. “The interventions consist of establishing a beef […]

African markets

Safaricom: Ethiopia clears hurdle to M-Pesa expansion

Ethiopia paved the way for Safaricom (NSE: SCOM) to introduce its popular M-Pesa to the market of 110 million people after deciding to include mobile-based financial services in the telecom operator’s license offered in May. Ethiopian authorities told the Business Daily on Thursday that Safaricom’s license will be upgraded to include mobile financial service when […]

African markets

Tunisia’s central bank maintains rates and plans economic reforms

Tunisia’s central bank left its interest rate unchanged and called on politicians and other stakeholders to carry out economic reforms that could help the country overcome its current crises and stressed the need to restore confidence in international institutions. and foreign donors in the country’s economy. The Central Bank of Tunisia (BCT) left its key […]

African markets

Dyadic and Rubic to develop Covid-19 vaccines for African markets

Rubic will leverage the C1 platform to develop Covid-19 vaccines. Credit: Wilfried Pohnke / Pixabay. Dyadic International has entered into a Covid-19 vaccine technology transfer and licensing agreement with the South African company Rubic Consortium, to discover, develop, analyze and produce cost-effective vaccines intended primarily for African markets. Pursuant to the agreement, Dyadic will license […]

African markets

Analysis: Violence confronts South African markets with reality

South African rand coins are seen in this illustration photo taken October 28, 2020. REUTERS/Mike Hutchings/Illustration Join now for FREE unlimited access to Reuters.com Register Rand erases all 2021 gains after heavy fall Closures, vaccination delays weigh on economic recovery South Africa’s unemployment rate is one of the highest in the world Possible Fed cut, […]

African markets

Land travel rebounds in some Middle Eastern and African markets, while international travel lags

After a year in which flights were mostly grounded and travelers stayed home, returning to travel has become one of the most anticipated and uncertain activities of 2021. Mastercard’s Recovery Insights: Ready for Takeoff? is an overview of the main air and ground travel trends around the world. While the global travel recovery remains uneven, […]

African markets

What Spotify’s entry into African markets means for the continent

On March 4 of this year, Spotify officially launched its planned expansion into 38 African countries. There were exquisite campaign rollouts with artists from across the continent and overwhelming excitement on social media. More importantly, there was the understanding that a new chapter had opened for the African music ecosystem. Before Spotify announced its entry […]

African markets

South Africa’s agricultural sector will benefit from access to African markets

Members of the food gardening project at Dihwayi tsa Phomolong Clinic in Atteridgeville, west of Pretoria, sing as they harvest tomatoes. Photo: Leon Sadiki BUSINESS Agricultural economists and analysts say the new African Continental Free Trade Area (AfCFTA) will provide opportunities for agribusinesses in South Africa to boost cross-border trade, cooperation and investment. Department of […]