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Promotion of trade under AfCFTA

by Boason Omofaye
January 25, 2021

© FAR

Markets Coverage

Bank of Ghana Issues Unclaimed Balances & Dormant Accounts Directive
News: @StanbicIBTC Bank PLC Series 2 Commercial Paper Issue of up to USD75m under its recently renewed NGN100bn multicurrency CP programme is open with tentative close and funding dates set for Wednesday, 3 March 2021 & Friday, 5 March 2021 respectively.
News: Series 3 & 4 Commercial Paper issuance, under #Dufil Prima Foods PLC’s NGN30bn programme is still open and scheduled to close today 03 March 2021. Dufil had issued an aggregate amount of NGN37bn in CPs between 2016 and 2020. Dufil is the maker of “Indomie”
No Plan to Bar Foreign Investors from OMO Auction, Says CBN
Market Update: Sanlam Insurance issued a statement to shareholders indicating that FY20 earnings will decline, driven by depressed local economy and adverse FX movements. Safaricom book closure date for an interim dividend of Ksh 0.45 is this Friday, the 5th of March 2021
Selon les résultats du 4e trimestre 2020 publiés ce 3 mars 2020 à la bourse de Casablanca, le chiffre d’affaires de la branche non vie de la société Wafa Assurance Maroc s'est établi à 836 MDH (94 millions de dollars) en hausse de 31,9% suite à des effet
Cairo, 03 March 2020: – @afreximbank has approved $70mn to finance expansion and upgrade of #Beitbridge border post in #Zimbabwe. #frontierafrica #Zimbabwe #infrstructure #borderpost
The Nairobi Securities Exchange [@NSE_PLC] introduces real-time Derivatives Market data on the Elektron Real Time platform by Refinitiv aimed at providing investors with real-time updates on the NSE’s single stock futures and index futures products. Progress.
News: @MTNNG plans to tap the debt market in the first quarter and has applied to the Nigerian Securities and Exchange Commission for approval, its chief finance officer said on Wednesday.
NSE: Closing Gong Ceremony to commemorate the election of Mrs Omojokun as President, FMAN
SEC SEEK TO OVERTURN OANDO FAVOURABLE JUDGEMENT
Kenya’s treasury is seeking to raise Kes 123.8 billion from sovereign bonds in the next four months and an additional Kes 124.3 billion during the fiscal year starting in July to help finance the budget.
DMO February 2021 FGN Bond Auction Result. N 150bn was offered but sold only N80.6bn across the 3 maturities. The DMO under-allotted across all tenors. Marginal rates closed marginally above current market offer rates
Limuru Tea Plc- Statement to Shareholders (Profit Warning Announcement).
Ghana Interest Rate Falls By Almost 1% In Two Weeks
Brent oil traded near $65 a barrel as a cold blast that’s taken out almost 40% of U.S. crude production morphed into a global supply shock
Cairo, Johannesburg, 18 Feb. 2021: – The African Export-Import Bank (Afreximbank) and African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa.
Following the FSC meeting held on 16-02-2021 the committee, noted that the financial sector remained solvent and liquid during 2020, despite the looming uncertainties weighed in by the pandemic.
News: #Seychelles Breweries says its pre-tax profit for the interim period ended 31 Dec. 2020 is expected to be 25% to 30% lower than same period of 2019.
News: @cenbank sold NGN54.00bn of its new "Special Bills" of OMO into the market via @FMDQGroup Exchange on Tuesday in 6 deals, with discount High of 4.22% and a Low of 0.50%.
News: #Zimbabwe lifted its main lending rate to 40% from 35% previously on Thursday in a bid to reduce excess liquidity and control speculation in its foreign currency market, the central bank said.
Standard Group Plc - Resignation of KPMG Kenya as External Auditor.
Angola could benefit from a $1 billion liquidity injection in Q2 if US Treasury Secretary Janet Yellen backs growing calls for the IMF to issue $650bn of new Special Drawing Rights (#SDRs) to support pandemic recovery, easing debt sustainability this year
Analysts also advise on the SALE of IFB1/2021/16 at rates above 11.50% in bond market.
Investors are pruning their stock of Nigerian bonds in order to position themselves for higher yields
The yield was 4.30% for bonds worth 600 million euros that will mature in 2032, the lowest ever rate for Ivory Coast’s
Nigerian Treasury Bills Primary Market Auction Results for today, 10-Feb-21. Stop rates rose across all tenors. The 364-day bill increased 200bps to 4.0%. The DMO redeemed N38.9bn of the 364-day
(1 dollar = 8,96 dirhams). Leader marocain de la distribution de gaz de pétrole liquéfié, butane et propane, Afriquia Gaz a émis u n profit warning ce 10 février 2021 à la Bourse de Casablanca (BVC). Nous reproduisons ci-dessous l'avis complet de cette
Returns on Pension investments in Kenya declined by 60 per cent in 2020 due to COVID-19 pandemic, according to a report by fund managers, Zamara.
Egypt’s annual urban inflation slows to 4.3% in January 2021: CAPMAS
The regulatory body that watches over Deposit-taking SACCOs (SASRA) has given permits to 175 SACCOs to undertake Deposit- Taking (DT) business in Kenya this year
WPP Scangroup Appoints New Members to the Board as non-executive directors
Feb 5: #Ecobank Trans. Inc parent of @GroupEcobank plans global DCM capital raising of S$300mn Senior notes; proceeds of #Eurobond to provide mid-term funding and enhance capacity to support intl trade and service in Africa; Notes to be issued thru Dutch SPV and listed on @LSEplc
Stanbic IBTC’s Profit Rises 11% as Non-Interest Income Expands
#Saudi energy minister Prince Abdulaziz bin Salman (and the #Opec+ JMMC) today talked up #Nigeria's improved compliance and efforts to compensate for past over-production. But #Iraq and #Kazakhstan remain firmly in the "can do better" category. #oott
Ghana T-Bills Oversubscribed by 31%
News: #Botswana joins growing list of #frontier #African economies setting up comex as #Gaborone plans a multi-commodity exchange for trading commodities beyond minerals #Egypt #Nigeria
Ghana Govt Releases US$50mln Operational Capital For National Development Bank
DSE PLC posts strong Q4 profit. Profit After tax at TZS 2.1bn/-, totaling out the cumulative profit for the year 2020 at 4.69bn
CIC Insurance has issued a profit warning for the 2020 full-year earnings
Jan. 28, 2021: @seplatpetroleum Plc has appointed #OkechukwuMba as new MD of #ANOH Gas Processing Company Limited, the incorporated JV between #Seplat and #Nigeria Gas Company, a subsidiary of @NNPCgroup #ANOH is a midstream gas coy processing gas from OML 53 for the local market
EABL's sales in Tanzania and Uganda increased by 17% & 13% respectively in the half-year period that ended on 31st December 2020.
Two weeks extension granted by @lirsgovng for annual tax returns originally due for submission by 31 January 2021. Employers now have up till 14 February 2021 to submit annual income tax returns for their employees.
Inflation highlights: Inflation in January 2021 was 5.7 percent.
The Central Bank of Kenya will conduct the first-ever diaspora remittances survey with the aim to increase remittances into Kenya
"We consequently expect the naira to weaken further, ending the year at NGN438.0/USD (10.1% below end-2020 levels) and averaging NGN408.50 (7.2% below the 2020 average)." --- Fitch
NSE PLC Weighting on the MSCI Frontier Index Increased to 9.49%
Central Bank of Kenya Likely to Maintain Status Quo on Rates in 2021
LSE Plc NSE Nigeria listed Airtel Africa, with presence in 14 countries across Africa, will announce its results for the nine months to 31 Dec. 2020 on 29 January. Management will host a conf. call on the day of results for analysts and investors at 2:00pm GMT
DMO Bond Auction Result for January 2021. This clears the way for the active start of 2021 FGN bond market activity as it's now obvious the DMO is also mindful of the cost of borrowing. Marginal rates for 2035 & 2045 are below today's market offer rates. Bid-offer spread to close
News: Morocco has joined the Bloomberg African Bond Indices (ABABI) of the AfDB Group Mauritius also joined the index set up in 2014 by the African bank and Bloomberg to provide investors with a reliable tool designed to measure and track performance of Africa’s bond markets.
IMF’s report on Angolan econ. this week, shows surge in public debt, and only partial debt reprofiling. In absence of credible plan to service debts to China Devt Bank, there remains an even chance that Angola will be forced to ask bondholders for haircut late 2023 or early 2024
We consequently expect the naira to weaken further, ending the year at NGN438.0/USD (10.1% below end-2020 levels) and averaging NGN408.50 (7.2% below the 2020 average)
FGN Bonds Issuance Calender for Q1:2021. DMO to borrow about N450bn via Bonds in Q1:2021. This is below the estimated N505bn inflow from Bond Coupons excluding inflows from RSA contributions. Not expecting any significant increase in the clearing rates in Q1:2021
News: @FMDQGroup starts 2021 with quotation of: -#Total NGR ?2.25bn Series 1 & ?12.75bn Series 2 CP under ?30.00bn CP Issuance Prog. -#Mixta Real Estate PLC ?2.00bn Series 32 CP under ?20.00bn CP Issuance Prog -Reg of #Valency Agro Nig. Ltd ?20bn CP Prog @BBoason @ARISEtv
LE DEPOSITAIRE CENTRAL/BANQUE DE REGLEMENT (DC/BR) ANNONCE LA NOMINATION DE MONSIEUR BIRAHIM DIOUF EN QUALITE DE DIRECTEUR GENERAL ADJOINT
News: "Retailer Truworths International said on Friday its profit for the half year ended December 27 will likely fall by between 4% and 9% as its operations across the UK and South Africa were hit by weak spending as people stayed indoors", reports @Moneyweb
Former customers of revoked fund management companies confirm receipt of payments.
Communiqué ONATEL : Une nouvelle marque est née au sein du monde des télécoms africain, c’est « Moov Africa ». A travers elle, toutes les filiales du Groupe Maroc Telecom sont désormais réunies autour d’une identité commune.
Côte d’Ivoire : La brasserie Solibra rachète la Socodis
Burkina : L’Etat lève 32,980 milliards de FCFA de bons du trésor sur le marché financier de l’UMOA
News: @afreximbank confirms #Nigeria's state oil corporation or @NNPCgroup shopping for funding (c.$1bn) for the rehabilitation of #Port Harcourt Refinery @Reuters @ARISEtv @THISDAYLIVE @Tola_Abimbola @eboayodeji @OJEFx @itempili @PaulAlaje
Tanzania: Arise B.V. acquires 34.9% stake in NMB Bank Plc
Co-operative Bank of Kenya Ltd - Statement to Shareholders. (Profit Warning Announcement)
News: ABSA SouthAfrica PMI a gauge of manufacturing activity in Africa’s most industrialised economy, fell to 50.3 points in December from 52.6 points in November, staying just above the 50-point mark that separates expansion from contraction, reports Moneyweb
News: Most emerging market currencies will continue last year’s rally against a tumbling dollar into 2021 as a thirst for higher yield and hopes for a successful coronavirus vaccine rollout helps drive gains, a Reuters poll showed.
Jan. 8, 2021: In preparation for its imminent demutualisation, the Nigerian Stock Exchange (“The Exchange”) inaugurated its Claims Review Panel (the Panel) on 21 December 2020, pursuant to the provisions of the Demutualisation of The Nigerian Stock Exchange Act 2018 (the “Act”).
Botswana has set its #pula to lose value at a faster rate in 2021, a senior official said Monday, as it seeks to boost export competitiveness after COVID-19 pandemic has deep impact on diamond sales that are central to its economy. Pula to lose 2.87% this year vs 1.51% (2020)
South African stocks advanced for a second day, boosted by gold producers as demand for haven assets supported bullion prices amid the latest news on the coronavirus pandemic
Tanzania: Mkombozi Bank to raise over 10bn/- for expansion
Carbacid investors to discuss the proposed takeover of BOC Kenya at a cost of KSh1.24 billion on 29th January 2021
Botswana has set its #pula to lose value at a faster rate in 2021, a senior official said Monday, as it seeks to boost export competitiveness after COVID-19 pandemic has deep impact on diamond sales that are central to its economy. Pula to lose 2.87% this year vs 1.51% (2020)
WTI hits USD 50/bbl for first time since February 2020
BREAKING: World Bank says the "global economy to expand by 4% in 2021; vaccine deployment and investment key to sustaining the recovery." The Bank however, adds that "development risks remain as economic activity, incomes likely to stay low for extended period"
Dec. 31: Market sources say @cenbank today sold US$ to banks at NGN410/1$ at the I&E window against previous rate of NGN395/1$
EDC Investment Corporation accompagne l’Etat du Congo dans le refinancement de son emprunt obligataire
Cameroun: la BMCE consent un prêt de 35 milliards de FCFA
A year of gains closes with gains as CBZ leads yearly returns
Governor Rwangombwa John named Central Bank Governor of the year 2021, for Africa
Kenya's December Inflation rate climbs to 8-month high on rising food prices

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