Africa > West Africa > Stock Market / Finance

Stock Market / Finance in West Africa

  • Credit facilitates economic growth

    NIGERIA, 2017/10/16 AT the backdrop of continued agitation for improved access to credit for small business operators, Microfinance sector leaders are linking economic development to sustained credit to the under-banked segments of the society. Naira The Chairman, Lagos State Chapter of the National Association of Microfinance Bank, NAMBLag, Mr. Omololu Fatunbi, said credit is a driver of economic growth of any country.
  • Finance Minister Kemi Adeosun

    NIGERIA, 2017/08/11 Nigeria plans to refinance $3 billion worth of maturing naira-denominated short-term treasury bills with dollar borrowing of up to three years' maturity, to lower costs and improve its deficit position as the economy recovers from a recession. Finance Minister Kemi Adeosun said on Wednesday she was aiming to borrow less in naira and additional in foreign currency. She said the government could borrow at a cost of 7 % overseas, roughly half the interest rate it currently pays locally.
  • Envoy cautions Nigerians on currency declaration in Ethiopia

    ETHIOPIA, 2017/07/29 Nigeria’s Ambassador to Ethiopia, Bankole Adeoye, has advised Nigerians travelling to that country to adhere to its currency declaration law in order to avoid sanctions. Adeoye, who is as well Nigeria’s Permanent Representative to the African Union (AU), gave the advice in an interview with the News Agency of Nigeria (NAN) on Sunday in Addis Ababa. “Since my arrival as Nigerian envoy here barely a month ago, the issue of confiscation of valuables, inclunding foreign exchange of Nigerians in transit on Ethiopian Airline, has been of great concern to us.
  • Ivory Coast to issue 3-year, 100 bln CFA bond on July 19

    ABIDJAN, 2017/07/19 Ivory Coast will issue a three-year, 100 billion CFA franc ($172 million) bond on July 19, the West Africa deficit planning agency AUT said late on Thursday.
  • 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.
  • 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.
  • AFSIC 2017, The Gate to Africa's Financial Sector

    AFRICA, 2017/03/04 Bringing together investors Rupert McCammon, Founder and Managing Director of the Africa Financial Services Investment Conference(AFSIC), highlights key elements of the upcoming AFSIC 2017. What is the objective of AFSIC? AFSIC, which is an abbreviation for Africa Financial Services Investment Conference, is the leading investment event focused on Africa’s financial sector. African Banks, Insurance Companies and Microfinance Institutions from across the continent attend in order to meet world deficit and equity investors who are looking to invest in equity or senior or subordinated deficit capital. The large number of investors attending makes the event highly attractive as delegates are able to hold a wide range of high impact business focused meetings in one place at one go.
  • China-Portuguese Speaking Countries Cooperation Fund presented in Macau

    CHINA, 2017/01/23 A presentation session of the China-Portuguese Speaking Nations Cooperation and Development Fund and the investment framework for investment in Portuguese-speaking nations is due to take place on 25 January in Macau, organised by the Macau Institute for Trade and Investment Promotion (IPIM). This session is co-organised by the Macau Economic Service, the Finance Services Bureau and the Macau Monetary Authority and support is provided by the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Nations.
  • Since trading commenced, returns on the market have been largely positive

    GHANA, 2017/01/14 The restructuring of the financial sector resulted in the creation of the financial market in Ghana. The market is made up of equity, bond, foreign exchange and derivative markets, with the money market dominating the financial markets. EQUITIES MARKET: The Ghana Stock Exchange (GSE) is the result of a private initiative that has been supported by the government. In 1990 the market had 11 securities worth GHS3.1m ($800,000), but presently boasts 40 equities with a total capitalisation of GHS62bn ($16bn). Companies have raised additional than GHS2.1bn ($542m) in equity and GHS194m ($50.1m) in deficit securities as of 2015. There were as well 14 corporate debts valued at GHS97m ($25m) and 98 government notes and bonds valued at GHS11.1bn ($2.9bn). There were two sovereign bonds of $3bn and several listed corporate and government Treasury bills worth GHS18bn ($4.6bn). The GSE is a market for all financial instruments. The market has three segments: the major equity board, the Ghana Alternative Market (GAX) for small and medium-sized enterprises and the Ghana Fixed Gain Market.