Africa > Stock Market / Finance

Stock Market / Finance in Africa

  • Zimbabwe’s y-on-y inflation rises to 0.78% in September

    ZIMBABWE, 2017/10/17
  • 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.
  • Bitcoin price soars above $5,000 to record high

    WORLD, 2017/10/14 The price of bitcoin has smashed through $5,000 to an all-time high. The cryptocurrency rose by additional than 8% to $5,243 having started the year at $966. Bitcoin has soared by additional than 750% in the completed year and is worth four times as much as an ounce of gold. But the price has been volatile. The digital currency plunged below $3,000 in mid-September next the Chinese authorities announced a crackdown. Beijing ordered cryptocurrency exchanges to stop trading and block new registrations, due to fears that increasing numbers of consumers piling into the bitcoin market could prompt wider financial problems.
  • Warnings grow louder over cryptocurrency as valuations soar

    WORLD, 2017/10/09 Joe Kennedy, patriarch of the Kennedy clan, said he knew it was time to exit the stock market next a shoeshine boy gave him stock tips. If everyone thinks it’s time to buy, it’s time to sell, reasoned Kennedy. Again came the great crash of 1929 to prove him right. Perhaps some of that thinking could be applied today to the digital currency bonanza. In recent months, warning voices have grown louder as the digital assets known as cryptocurrencies have attained record valuations. The price of bitcoin, the majority famous cryptocurrency, has soared this year, from $969 to additional than $5,000 in September; rival Ethereum began the year at $8 and has traded as high as $400 – while new coins or tokens are issued weekly, often attached to tech startups as a way to raise venture capital.
  • Stocks May Open Lower Amid Geopolitical Concerns

    UNITED STATES, 2017/09/26 Next ending the previous session modestly lower, stocks may see further downside in early trading on Friday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 38 points. Geopolitical concerns may weigh on Wall Street amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. In a statement circulated by national news agency KCNA, Kim described Trump's threat to " totally destroy" North Korea as "mentally deranged behavior."
  • Growing risk of 'debt trap' if interest rates stay low

    WORLD, 2017/09/23 A new warning has been issued about the growing risk of a “deficit trap” if interest rates around the world remain near zero, which has encouraged borrowing by households, businesses and governments. The Bank for International Settlements – known as the central bankers’ bank – highlighted the vulnerability of consumer, business and government finances to interest rate increases in its 174-page quarterly statement. Claudio Borio, the chief of the monetary and economic department, described this as “a defining question for the world economy”.
  • Five reasons why global stock markets are surging

    WORLD, 2017/09/23    
  • BRICS countries considering own cryptocurrency as settlement mechanism

    CHINA, 2017/09/07 The BRICS Finance Committee is discussing a joint virtual currency for the five country bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev. During the BRICS Summit in Xiamen, Dmitriev told journalists that Brazil, Russia, India, China and South Africa could develop its own alternative to other payment tools. "While there is a focus on settlements in national currencies, cryptocurrencies are as well being discussed as one of the possible settlement mechanisms," Dmitriev explained.
  • New microfinance initiative worth $2.8m launched in Egypt

    EGYPT, 2017/09/06 In August national-owned investment bank NI Capital launched a LE50m ($2.8m) microfinance arm called Tamweely (Arabic for “Funding”) in conjunction with government-backed private investment entity Ayady for Investment and Development, and Cairo-based private equity firm Post for Investments. NI Capital, a privately managed and incorporated subsidiary of the National Investment Bank (NIB), said Tamweely was part of its commitment to provide finance and capital mechanisms to bolster the local economy, with a focus on Upper Egypt and the Nile Delta.
  • The budget bank rattling South Africa's financial sector

    SOUTH AFRICA, 2017/09/06 A budget bank is booming in South Africa’s economic slump, challenging the decades-long dominance of the “large four” lenders and prompting a price war that is driving down banking costs in a country where a lot of people can’t afford an account. Capitec Bank has doubled its customer numbers over the completed five years and quadrupled in market price, even as South Africa’s economic increase has stalled and the country has slid into recession, squeezing household incomes. It offers a single “no-frills” bank account with low fees, inclunding unsecured loans to customers inclunding low-gain borrowers, but steers clear of the additional complex financial products offered by rivals.