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3 East African exchanges to link before year-end 2020
September 18, 2020-Market integration across 3 East African securities exchanges is moving fast with a target of being live and online by 31 December 2020.
According to a news report, Uganda Securities Exchange, Dar es Salaam Stock Exchange and Rwanda Stock Exchange are set to start trading as a single market after connecting their trading systems to each other and hooking to the EAC Capital Markets Infrastructure (CMI) Information Technology platform.
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Source: africancapitalmarketsnews.com
Trade Finance in Africa: Trends Over the Past Decade and Opportunities Ahead
September 18, 2020--This report is the third in the "Trade Finance in Africa" research series. It uses a standardized survey of commercial banks to provide a comprehensive study of the trade finance landscape in Africa for the nine years leading up to 2019. The aim is to provide data that set a benchmark for the trade finance landscape in Africa prior to the Covid-19 crisis, and aid policy makers' support of the trade finance industry during and after the pandemic.
Besides uncovering new challenges based on trend analyses of the data, particularly those related to new regulations, it also corroborates some previous findings. The report also provides insights into the important role played by development finance institutions (DFIs) in supporting trade finance across Africa, and how that impacts banks' ability to intermediate African trade.
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Source: afdb.org
South Africa: 2020 Second-Quarter Output Down 51%
September 9, 2020--South Africa's overall economic activities decreased by 51% between April and June this year, Statistics South Africa announced yesterday.
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Source: allafrica.com
South Africa: Steep Slump in GDP as Covid-19 Takes Its Toll on Economy
September 8, 2020--The punch in the gut was severe. Perhaps the second quarter of 2020 will become known as the pandemic quarter.
South Africa's economy suffered a significant contraction during April, May and June, when the country operated under widespread lockdown restrictions in response to COVID-19.
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Source: allafrica.com
SA stocks set for worst week since May after tech rout
September 4, 2020--Concerns over lofty tech valuations dragged China's Tencent down for a second day in Hong Kong; pulling Naspers, which holds a 31% stake in Tencent, down 1.7% to a two-week low.
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Source: news24.com
Rand holds firm after breaking R17/$ barrier
August 24, 2020--The rand has gained momentum, dipping below R17/$ for the first time since the end of July.
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Source: news24.com
Nigeria: Economy Enters Negative Growth
August 24, 2020--Nigeria's Gross Domestic Product (GDP) growth rate contracted by -6.10 per cent in the second quarter of 2020, a report by the National Bureau of Statistics (NBS) said on Monday.
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Source: allafrica.com
World's Biggest Free-Trade Pact Targets First Deal in 2021
August 16, 2020--The first commercial deal under an Africa-wide free trade zone will take place on Jan. 1 as outstanding talks are set to move online, the African Union said.
While the African Continental Free Trade Area entered into force legally last year, transactions that were due to start on July 1 were delayed as the virus set back negotiations on the protocol for trade in goods, including tariff concessions.
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Source: bloomberg.com
Nigeria Stock Market Opens Week With N8bn Loss
August 10, 2020--The nation's bourse opened trading for the week on Monday with a loss of N8 billion, the first decline in seven consecutive trading sessions.
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Source: allafrica.com
Rand slides to 10-week low, could face more pain ahead
August 6, 2020--The rand, already on a losing streak, could be heading for more pain as emerging markets face ongoing pressure, analysts warned on Thursday.
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Source: FIN24
