Rising Eurobond rates to increase cost of new debt

The issue first traded in the open market on February 23 at a yield of 8.021 percent, meaning the high reached last week amounts to an increase of 2.263 percentage points.

~ Business Daily Africa

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Over the year, investor sentiment in domestic bond issues has been significantly low attributed to a wait-and-see attitude adopted before the rate cap was retained under the Finance Act 2018.

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Inflation rate to trend toward 13% in 2019

While delivering the keynote address at the annual Bankers Dinner of the Chartered Institute of Nigeria (CIBN), CBN Governor, Mr. Godwin Emefiele said: “Inflation expectations are rising on the backdrop of anticipated politically-related liquidity...

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For most South African investors, local shares will be the largest portion of their portfolios, given regulatory limits on offshore exposure in retirement funds.

IOL , South Africa Dec 3, 2018
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NSE bond trade slumps 25pc amid tighter liquidity

Liquidity in the market progressively tightened during the month as Central Bank mopped up currency to support the shilling that experienced increased volatility against the dollar.

Business Daily Africa , Kenya Dec 5, 2018
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10-year bond forecast to do better on high maturities

Analysts expect improved demand for the December 10-year bond floated by the Treasury compared to recent issues, with pension funds and banks likely to lead the buyers as they eye higher yields on the paper.

Business Daily Africa , Kenya Dec 9, 2018
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World stocks shrivel as trade truce doubts

INTERNATIONAL – Deflating hopes of a swift resolution to the Sino-US trade war knocked world stocks off three-week highs on Tuesday, while growing fears the US economy could be headed for recession sooner than expected weighed on the dollar.

IOL , South Africa Dec 4, 2018
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Kenya among 50 middle-income nations employing 16 million migrants - ILO

The report, however, notes that middle aged people constitute a high number of migrants and that this situation puts their mother countries at risk of losing manpower.

The Star , Kenya Dec 6, 2018
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Rising Debt-to-GDP in Africa: Cause for Concern or a Non-Issue?

The concerted efforts by African governments to close the infrastructure gap have resulted in them running high budget deficits and accumulating public debt.

The Standard , Kenya Dec 2, 2018
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6 major events that pose a big risk to South Africa in 2019

While these steps form part of the ruling African National Congress’s plan to accelerate wealth redistribution, commercial banks that hold farm debt could be hit.

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World Bank sees Nigerian 2018 GDP growth at under 2 percent

LAGOS (Reuters) - The World Bank expects Nigeria’s economy to grow slightly less than 2 percent this year, largely driven by the non-oil industry and services sectors, as the approach of elections keeps foreign investors away, it said on Wednesday.

Reuters , Africa Nov 29, 2018
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The rand is plummeting – here’s why

Following the Q3 GDP figures, and the initial positive sentiment that followed the G20 summit, reality has unfortunately set in for markets, with the rand topping R14.00 against the dollar again on Thursday (6 December).

Business Tech , South Africa Dec 5, 2018
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State govts revenue to be strained over high debt-to-revenue ratio

In his reaction, Mustapha Wahab, a research analyst at Cordros Capital Limited, explained that adding growing debt to servicing cost and to the already depressed state revenues will put pressure on their fiscal operation.

Vanguard News , Nigeria Dec 6, 2018
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General strike in Burkina Faso over fuel prices hike

Several thousand people took the streets of Burkina Faso’s capital Ouagadougou on Thursday as workers downed tools in a nationwide strike over higher fuel prices.

The Guardian , Nigeria Nov 29, 2018
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Row on shilling pits CBK boss Njoroge against former employer

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The Standard , Kenya Dec 3, 2018
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Banks exposed to public debt pile, Moody’s warns

Kenyan banks have one of the highest ratios of government debt holdings to capital in Africa, heightening their exposure to sovereign lending risk compared to peers as well as inflating profitability.

Business Daily Africa , Kenya Nov 29, 2018
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Kenya tops in African banks bad loan study

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Business Daily Africa , Kenya Dec 2, 2018
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Real estate developers biggest loan defaulters

The nosedive in growth of returns for property developers was manifested last quarter of 2017 when house selling prices reduced by about 4.10 percent compared to a 10.21 per cent jump in the same period of 2016 due to large stock of unsold units.

Business Daily Africa , Kenya Dec 2, 2018
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Rotich raises domestic borrowing by Sh100bn

Treasury will borrow Sh100 billion more from the domestic market in the next financial year as it cuts new foreign loans in a shift that looks set to lock out households and businesses from bank credit.

Business Daily Africa , Kenya Dec 4, 2018
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Losses to bad loans remain high in Nigerian banks

Global rating agency, Moody’s Investors Services yesterday affirmed a ‘Stable’ outlook on the Nigerian banking system, but warned that losses to bad loans remain high in the industry.

Vanguard News , Nigeria Nov 29, 2018