Africa > Central Africa > Stock Market / Finance

Stock Market / Finance in Central Africa

  • Bitcoin just started trading on the world’s biggest exchange

    AFGHANISTAN, 2017/12/19 Bitcoin futures started trading Sunday night at CME Group Inc.’s venue, a week next Chicago rival Cboe World Markets Inc. introduced similar derivatives on the volatile cryptocurrency. CME is a much bigger player in futures, so a lot of traders expected it to make a bigger splash in the nascent space. CME got off to a faster start with additional efficient pricing. Its most-active arrangement changed hands 221 times in the initial hour versus 570 during Cboe’s debut. But that’s a win because CME’s contracts are five times additional precious — they’re tied to five bitcoins compared with only one with Cboe’s futures.
  • IMF deal to support diversification and stability in Gabon

    GABON, 2017/07/31 A new package of international support looks set to boost Gabon’s medium-term recovery programme next three years of a deteriorating fiscal position. On June 19 the IMF approved a three-year transaction for Gabon as part of its extended fund facility to the Central African country. The programme is worth $642m and secures an immediate disbursement of about $98.8m. The rest of the package is to be disbursed in phases, following semi-annual reviews and on the condition that the government institutes a range of structural reforms.
  • Angola's inflation slows to 30.51 percent year/year in June

    ANGOLA, 2017/07/19 Angola's inflation slowed to 30.51 percent year-on-year in June from 32.58 percent in May, according to data on the national statistics agency's website seen by Reuters on Monday.
  • 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.
  • National Bank of Angola wants to improve scheduling of currency sales

    ANGOLA, 2016/07/26
  • Angola’s support request to the IMF’s technical assistance

    ANGOLA, 2016/04/11 The request for support made by Angola to the International Monetary Fund’s technical assistance, intended to design and implement policies and reforms to improve macroeconomic and financial stability, said Thursday in Luanda the minister of Finance. Minister Armando Manuel clarified not be in the presence of a request for economic recovery, which occurs in economies at certain times shows inability to meet the deficit service and have difficulty paying primary responsibilities, such as staff salaries, as happened with some European nations.
  • Malaysian company secures credit line for project in Angola

    MALAYSIA, 2015/12/31 The Armanda Cabaca company, a subsidiary of Malaysian group Bumi Armada, has secured a credit line of up to US$1.12 billion with a banking syndicate to partially fund a project in Angola, the group said in a statement. The banking syndicate is led by the Oversea-Chinese Banking Corporation of Singapore and Sumitomo Mitsui Banking Corporation of Japan, and its members include the Korean Development Bank, the National Bank of Abu Dhabi, Societe Generale and Standard Chartered.
  • International finance institutions have largely neglected to offer assistance to sub-Saharan nations

    MOROCCO, 2015/12/03 International finance institutions have largely neglected to offer assistance to sub-Saharan nations on the markets but several are making their own way in an untapped emerging area. On a continent where access to markets is a novel phenomenon and where it is still difficult to attract investors due to legacy issues of poor macroeconomic management and fiscal discipline, inclunding persistent corruption and weak institutions, attempts to raise capital from the markets is a laudable goal. The discipline required by the process has no doubt helped nations that have been successful in recognizing the importance of market perceptions and the need for better macro-fiscal discipline. The number of international bond issuances by sub-Saharan African nations in recent years has accelerated. In addition to South Africa, eight nations in the region have tapped the international capital markets, inclunding initial-time issuers Ghana, Gabon, Senegal, Namibia, Nigeria, Tanzania, Zambia and Rwanda. Furthermore, market intelligence suggests that other sub-Saharan African nations may tap international markets in the near next. Cape Verde national company Imobiliária, which provides housing for disadvantaged people, carried out an $8.8 billion bond issue in October, its second foray into the securities exchange, while Kenya has seen two Eurobond issuances in the completed 12 months.
  • Berro, Al Hilal Bank: An Islamic bank doesn’t have to be old or rusty

    WORLD, 2015/11/01 Islamic finance is going mainstream, with Western nations planning to issue their initial sovereign sukuk. It still constitutes only a small % of total world financial assets, and most activity is concentrated in a handful of markets—but for how long? “Is the Islamic finance market going world? Of course, it is,” says Mohamed Berro, CEO of Al Hilal Bank, one of the fastest-growing banks in the United Arab Emirates. “World corporations, institutions and sovereign borrowers want to capture Islamic liquidity,” he says. “We can compete on a world basis, particularly at a time at the same time as the world is keen on ethical banking.”