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股市/金融在Africa

  • Algeria looks to boost capital markets liquidity

    ALGERIA, 2016/06/11 With traditional lending constrained by lower hydrocarbons receipts, public authorities are redoubling their efforts to develop Algeria’s capital markets. By encouraging listings on the country’s equity and deficit markets, officials are looking to relieve pressure on the national Treasury and create new investment opportunities for financial institutions. “The Treasury and the national no longer possess the budgetary means to finance development projects at the same level as in recent years, which has resulted in a redistribution of funding channels and underscoring the need to develop financial markets,” Abdelhakim Berrah, president of the Commission for the Organisation and Oversight of the Stock Market (Commission de Surveillance des Opérations de Bourse, COSOB), told OBG.

  • President Magufuli delivers a speech during his swearing-in ceremony in Dar Es Salaam

    TANZANIA, 2016/05/22 Tanzanian lawmakers have gathered in the capital Dodoma to debate the initial budget of President John Magufuli’s government. It contains a 13 % increase in funding for development projects that will be paid for through tax rises and spending cuts in other areas, the country’s data minister tells us. “People have a lot of expectations because this is the budget where the government will start implementing whatever has been promised in the election manifesto,” said Data Minister Nape Nnauye.

  • Morocco and China sign $1.54bn currency swap agreement

    CHINA, 2016/05/16 In a statement published on May 11, 2016, the Central Bank of China announced it has signed with its Moroccan counterpart a currency swap agreement valued at $1.54 billion. The agreement which was signed on the initial day of Moroccan kin Mohammed VI in China should extend over three years and facilitate bilateral trade between the two nations.

  • Uganda: Interest On External Debt Rises to Shs250b

    UGANDA, 2016/04/30 Uganda is projected to pay Shs250b in the next financial year in interest payment for the country's external deficit. The all, according to the Parliament Finance Committee, will rise from the Shs170b government paid this financial year. This means that each of the 34 million Ugandans - a lot of of whom earn less than Shs300,000 monthly - would have to, figuratively pay Shs440,000 to repay Uganda's Shs14.915 trillion external deficit.

  • Mozambique: Secret Loans: What Happens Now?

    MOZAMBIQUE, 2016/04/30 Like a naughty schoolboy caught smoking in the bike shed who is again summoned to the school principal's office, Prime Minister Carlos Agostinho do Rosario flew to Washington to appear before IMF Managing Director Christine Lagarde. Apparently he confessed to her that at least $1.35 billion in loans were taken out in secret without telling parliament or donors - or, most importantly, the IMF. At least $2.2 bn - equivalent to all government spending for five months - has been squandered in secret on boats of dubious necessity and, it is widely assumed, on corrupt payments. So, what happens presently? There are two guiding principles which will shape whatever happens. Initial, Frelimo is obsessed by maintaining unity at all costs. Ever since Eduardo Mondlane was assassinated in 1969, Frelimo has realised that it can only gain and keep power by not splitting up. That means no one is expelled from the party no matter how corrupt or incompetent they are; anyone who may be a threat is given a sinecure. Disputes are settled within the party and the aim is for win-win agreements.

  • Mozambique: Secret Loans: What Happens Now?

    MOZAMBIQUE, 2016/04/29 Like a naughty schoolboy caught smoking in the bike shed who is again summoned to the school principal's office, Prime Minister Carlos Agostinho do Rosario flew to Washington to appear before IMF Managing Director Christine Lagarde. Apparently he confessed to her that at least $1.35 billion in loans were taken out in secret without telling parliament or donors - or, most importantly, the IMF. At least $2.2 bn - equivalent to all government spending for five months - has been squandered in secret on boats of dubious necessity and, it is widely assumed, on corrupt payments. So, what happens presently? There are two guiding principles which will shape whatever happens. Initial, Frelimo is obsessed by maintaining unity at all costs. Ever since Eduardo Mondlane was assassinated in 1969, Frelimo has realised that it can only gain and keep power by not splitting up. That means no one is expelled from the party no matter how corrupt or incompetent they are; anyone who may be a threat is given a sinecure. Disputes are settled within the party and the aim is for win-win agreements.

  • AfDB and Algeria Redefine the Foundations for Strengthened Partnership

    ALGIERS, 2016/04/28 Next his initial visit to Algeria since taking office in September 2015, the President of the African Development Bank Group (AfDB), Akinwumi Adesina, expressed his pleasure at the warmth of the welcome the Algerian authorities gave him and at the constructive dialogue throughout the two days of his visit to Algiers on April 19 and 20, 2016. During this visit's rich programme of meetings - with Prime Minister Abdelmalek Sellal, the Minister of Finance, and several members of the Government inclunding with representatives of the Algerian private sector - Adesina and the Algerian authorities established together the foundations of a strengthened partnership to promote inclusive increase in Algeria.

  • Mozambique: IMF Suspends Standby Credit Facility Loan,

    MAPUTO CITY, 2016/04/21 The International Monetary Fund (IMF) has confirmed the suspension of the second installment of the loan to Mozambique of 283 million US dollars from the Fund's Standby Credit Facility (SCF). The suspension was suspected instantly the IMF announced, last Friday, that it was cancelling the mission that had been due to visit Mozambique this week because of the “undisclosed loans”, which the IMF put at over a billion dollars. The SCF is a means of providing financial assistance to low gain nations with short term balance of payments problems. In late October 2015, Mozambique applied for a loan of 204.5 million Appropriate Drawing Rights (about 282.9 million dollars) from the SCF. The IMF governing board granted the request and the initial instalment (about 118.9 million dollars) became available in December.

  • Ethiopia: Independent Monetary Policy Curbs Inflationary Momentum

    ETHIOPIA, 2016/04/20 Rosy reports are typical under the policy of the Revolutionary Democrats. Institutions do their best to highlight their positive performances and get praised for them. This trend is so pervasive within the national structure that government reports are received with grains of suspicion in academic and international financial sectors. It is therefore not surprising to see that the initial six-month statement of the National Bank of Ethiopia (NBE), the ultimate monetary authority, paints a blissful image of the economy. Led by Teklewold Atnafu, a governor treated additional as a politician than technocratic policymaker, the central bank departed from popular perception in its statement which declares that the economy is stable. This stability, according to the statement, comes as a result of the tight monetary policy stance being followed in the fiscal year.

  • 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.
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