Enterprise Television- African Markets Today February, 14
AFRICAN BUSINESS SUMMARY
The following company announcements, scheduled economic indicators, debt and currency market moves which may affect African markets on today.
For the top emerging markets news
Nigerian stocks shed 2.4% today to hit a new one-month low below 42,000 points as shareholders sold off shares in the consumer goods sector.
The statistics office announces that, the rate of inflation in Ghana stable at 11.8% since December.
SOUTH AFRICA MARKETS
South Africa’s currency weakened today after the ruling African National Congress (ANC) said it had not given President Jacob Zuma a deadline to accept its decision to”recall” him and resign.
The Kenyan shilling KES= creep down from its recent highs as a drop in overnight lending rates on the forex market which made it possible for dealers to increase their dollar holdings Moody’s downgrade Government of Kenya’s issuer rating to “B2” and assigned a “Stable” outlook.
UGANDA’S LENDING RATE
Uganda’s central bank cut its benchmark lending rate UGCBIR=ECI to its lowest level ever today, saying lending for small businesses remained costly despite recent policy easing.
BOTSWANA’S LENDING RATES
The central bank of Botswana left its benchmark lending rate unchanged at 5% today, saying the position for price stability was positive.
MALI’S ISLAMIC STOCK
The Government of Mali will complete its first sale of Islamic bonds, or sukuk, this week using a lease-based structure linked to affordable housing projects, the transaction’s offering document shows.