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Dangote To Invest Up To $50 Billion In U.S., Europe

Dangote To Invest Up To $50 Billion In U.S., Europe

Africa’s richest man, Mr. Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals. The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5 billion of agricultural projects and an […]

Factors To Watch On Aug 17 African Markets

Factors To Watch On Aug 17 African Markets

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve’s concerns about weak U.S. […]

Ghana Central Bank Takes Over 2 Distressed Banks, Customers Panic

Ghana Central Bank Takes Over 2 Distressed Banks, Customers Panic

There is a state of panic among customers of two commercial banks in Ghana after the Bank of Ghana (BoG) announced a takeover of the banks. Most patrons of UT bank and Capital bank, thronged the premises on Monday morning after an announcement that the operating licenses of the two outfits had been revoked. A […]

Factors To Watch On Aug 16 African Markets

Factors To Watch On Aug 16 African Markets

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS The dollar hoarded hefty gains on Wednesday after strong U.S. retail data put a Federal Reserve rate hike back on the agenda, while Asia stocks inched ahead […]

Factors To Watch On African Markets – Aug 14

Factors To Watch On African Markets – Aug 14

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. *GHANA – Ghana’s Finance Minister holds news conference on the state of the economy. GLOBAL MARKETS Asian stocks bounced on Monday after three losing sessions, tracking a firmer Wall Street, while the dollar was […]

Factors To Watch On African Markets – Aug. 7

Factors To Watch On African Markets – Aug. 7

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS Asian stocks advanced on Monday, taking their cue from Wall Street, while the dollar moderated but retained most gains made on stronger-than-expected July jobs growth and the […]

Forex: Zambia’s Kwacha To Firm On Dollar Inflows, Kenyan Shilling Steady, Others

Forex: Zambia’s Kwacha To Firm On Dollar Inflows, Kenyan Shilling Steady, Others

The Zambian kwacha is expected to firm next week on increasing hard currency inflows, while the Kenyan shilling is likely to remain steady as the central bank intervenes to smooth out price volatility. Zambia The Zambian kwacha is likely to firm versus the dollar next week due to increasing hard currency supply ahead of an […]

Aug 4th – Factors To Watch On African Markets

Aug 4th – Factors To Watch On African Markets

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – EVENTS: *RWANDA – Rwandans go to the polls to elect their next leader, with incumbent, Paul Kagame, expected to secure a clean sweep of the votes and extend his […]

Opec Oil Output Rises To 2017 High

The oil output for Organisation of Petroleum Exporting Countries, OPEC rose in July by 90,000 barrels per day (bpd) to a 2017 high, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal, a Reuters survey showed. Even against this development oil prices hit a two-month high […]

Ghana Central Bank Cuts Interest Rates As Inflation Eases

Ghana Central Bank Cuts Interest Rates As Inflation Eases

Ghana’s central bank cut its benchmark interest rate by 150 basis points to 21.0 percent on Monday, citing a downward trend in consumer inflation and the potential for higher economic growth on increasing oil output. The cut, which economists had expected, reflected lower risks to inflation helped by a slightly stabler local currency, Central Bank […]

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