June 27, 2017//-A mixed performance this week on African markets with seven of the markets under our watch closing on negative territories.
Category: Capital Market
UBA’s Debut $500 Million Eurobond Oversubscribed by 240%
Lagos, Nigeria – June 12, 2017 – United Bank for Africa Plc (UBA) successfully raised USD500 million, though a debut Eurobond, which was over-subscribed by 240%.
Renaissance Capital Named Top Frontier Markets Brokerage Firm
London, UK, 7 June 2017 – Renaissance Capital, a leading emerging and frontier markets investment bank, has been ranked the No.1 Frontier Markets brokerage firm in the 2017 Extel Survey for the second year in a row.
UBA Targets Irish Stock Exchange Listing with $500M Eurobond Issuance
May, 29, 2017//- The United Bank for Africa Plc (NGSE: UBA) on Tuesday notified the Nigerian Stock Exchange (NSE) and the investing public of its intention to launch a $500 million senior unsecured medium term debt notes.
African Stock Markets Marked by Reversal of the Positive Trends
This week was marked by a reversal of the positive trends seen so far in most African Markets with the strongest decline observed on the Tanzanian equity market. President John Magufuli of Tanzania fired his mining minister and the chief of the state-run mineral audit agency on Wednesday after an enquiry into possible undeclared […]
Performance of African Stock Markets
The positive sentiment continues to prevail in most African Markets with Zimbabwe being this week’s best performer. In a statement, the IMF said that Zimbabwe’s cash shortages could intensify and inflation may rise if President Robert Mugabe’s government does not temper excessive state spending. Official data on showed inflation has risen for the second consecutive […]
$2.25Bn Bond Doled Out: Minority Petitions US Gov’t
Accra, May 16 2017/- Ghana’s Minority in Parliament has petitioned the Securities and Exchange Commission (SEC) of the United States (US) over the US$2.25 billion bond issue which many described as a doled out.
African Stock Markets Show Positive Performance
Weekly Market Commentary This week marks another positive week for African markets as most markets ended on green territories. Nigeria’s lower and upper parliamentary chambers passed the 2017 budget, set at 7.44 tn naira ($24.4 bn). According to lawmakers, the budget assumes an oil price of $44.5 a barrel and foreign borrowing of 175.9 bn […]