ABN’s Lerato Mbele speaks with Egie Akpata, Head of Debt Capital Market at United Bank for Africa, looking at the latest financial news driving the Nigerian Market.
Category: business
Naira, Uganda shilling expected to weaken
NAIROBI, Aug 18 – Strong demand for the dollar in Nigeria and Uganda is expected to weaken local currencies while Kenya’s shilling looks set to strengthen due to a liquidity squeeze.
Zimbabwe "kingmaker" general killed in fire
HARARE, Aug 16 – A retired Zimbabwean army general and key figure in internal battles over President Robert Mugabe’s succession in his ZANU-PF party died in a fire at his farmhouse, official sources said on Tuesday.
IMF backs Kenya's move to tighten liquidity
NAIROBI, Aug 18 – Kenya has room to tighten monetary policy without damaging its growth prospects and its move to control liquidity through the overnight window is a step in the right direction, the International Monetary Fund said on Thursday.
Kenya cbank says monetary tightening working
NAIROBI, Aug 18 – Kenya’s central bank governor said on Thursday he was satisfied the bank’s tightening of monetary policy through a revised discount window rate was working and that its tightening stance would continue as double digit inflation remained a concern.
Nigerian inflation falls to more than 3-year low
ABUJA, Aug 16 – Nigeria’s headline inflation unexpectedly fell in July, data showed, reaching its lowest level for more than three years following an aggressive period of monetary tightening by the central bank.
SAfrica state workers reach deal, city workers riot
JOHANNESBURG, Aug 16 – Unions representing more than 1 million South Africa state workers said on Tuesday they had reached a wage increase deal with the government to avert a mass strike that could have slowed Africa’s largest economy.
African business agenda: 22-25 August
WHAT TO WATCH NEXT WEEK Monday August 22 Â Mauritius due to release trade data for June. Deficit widened 24 percent year-on-year in May to 6.9 billion rupees, due mainly to higher costs of fuel.
Helios announces leaseback deal in Tanzania
Helios Towers Africa, the leading independent telecoms tower company in the continent, was Friday granted a licence by the Tanzania Communications Regulatory Authority (TCRA) to independently operate a network of telecoms towers in the country.
Kenyan shilling to recover from low
NAIROBI, Aug 11 – Kenya’s shilling is expected to firm against the dollar next week after recovering from an all-time low, bucking a trend in African currencies which are under additional pressure because of the global flight from riskier assets.