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Fitch Upgrades Cote d’Ivoire to ‘BB-‘; Outlook StableFitch Ratingson 20 July 2021 at 11:40 on 20 July 2021 at 11:40 on 20 July 2021 at 11:40 AFRICAN MARKETS: Business News

Fitch Ratings has upgraded Cote d’Ivoire’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-‘ from ‘B+’. The Outlook is Stable. Fitch Ratings has upgraded Cote d’Ivoire’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-‘ from ‘B+’. The Outlook is Stable.Read More 0 Shares

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Fitch Revises Rwanda’s Outlook to Negative; Affirms at ‘B+’Fitch Ratingson 22 July 2021 at 11:44 on 22 July 2021 at 11:44 on 22 July 2021 at 11:44 AFRICAN MARKETS: Business News

Fitch Ratings has revised the Outlook on Rwanda’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at ‘B+’. Fitch Ratings has revised the Outlook on Rwanda’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at ‘B+’.Read More 0 Shares

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Central Bank of Seychelles cuts rate for the 4th time as rate corridor loweredCentral Bank Newson 1 July 2021 at 10:11 on 1 July 2021 at 10:11 on 1 July 2021 at 10:11 AFRICAN MARKETS: Business News

The central bank of Seychelles, the archipelago in the Indian Ocean, shifted its interest rate corridor to downwards to lower market interest rates and support the ailing economy, with the result the monetary policy rate was cut for the fourth time since September 2019. The central bank of Seychelles, the archipelago in the Indian Ocean, ….  Read More

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Moroccan Banking Sector Recovery Under Way but Will Be Slow – FitchFitch Ratingson 21 June 2021 at 15:15 on 21 June 2021 at 15:15 on 21 June 2021 at 15:15 AFRICAN MARKETS: Business News

Moroccan banks’ profitability recovered strongly in 1Q21 with loan impairment charges (LICs) easing and contributions to Morocco’s Covid-19 relief fund having ended, but full recovery to pre-pandemic levels is unlikely until at least 2022, Fitch Ratings says. Moroccan banks’ profitability recovered strongly in 1Q21 with loan impairment charges (LICs) easing and contributions to Morocco’s Covid-19 ….  Read More

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Uganda’s central bank cuts rate to boost fragile growth as virus risesCentral Bank Newson 17 June 2021 at 14:27 on 17 June 2021 at 14:27 on 17 June 2021 at 14:27 AFRICAN MARKETS: Business News

Uganda’s central bank cut its benchmark interest rate for the fourth time in the current monetary easing cycle, saying the economic recovery still requires monetary policy support and inflation will likely remain below the target in the near term with little space for fiscal policy to respond to “fragile economic growth.” Uganda’s central bank cut ….  Read More

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Ghana records 3.1 percent growth rate in first quarter 2021GNAon 17 June 2021 at 17:22 on 17 June 2021 at 17:22 on 17 June 2021 at 17:22 AFRICAN MARKETS: Business News

Ghana’s economy recorded a growth rate of 3.1 per cent year-on-year in the first quarter of 2021 compared with 7 per cent in the same period last year. Ghana’s economy recorded a growth rate of 3.1 per cent year-on-year in the first quarter of 2021 compared with 7 per cent in the same period last ….  Read More

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Egypt’s annual inflation accelerates to 4.9% in May: CBEDoaa A.Moneim | Ahram Onlineon 14 June 2021 at 15:22 on 14 June 2021 at 15:22 on 14 June 2021 at 15:22 AFRICAN MARKETS: Business News

Egypt’s annual headline inflation rate accelerated to 4.9 percent in May, up from 4.4 percent in April, owing to the recent preventative measures against the coronavirus and the increase in prices of vegetables and fresh fruits, according to the Central Bank of Egypt (CBE).  Egypt’s annual headline inflation rate accelerated to 4.9 percent in May, ….  Read More

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Kenya Picks Citi, JP Morgan As Lead Underwriters for its Dollar Sovereign BondJackson Okoth | Kenyan Wallstreeton 15 June 2021 at 15:15 on 15 June 2021 at 15:15 on 15 June 2021 at 15:15 AFRICAN MARKETS: Business News

Kenya has appointed Citi and JP Morgan as joint book-runners for a dollar-denominated sovereign bond issue, and I&M Bank (NSE:IMH) and NCBA Group (NSE:NCBA) as co-managers. Kenya has appointed Citi and JP Morgan as joint book-runners for a dollar-denominated sovereign bond issue, and I&M Bank (NSE:IMH) and NCBA Group (NSE:NCBA) as co-managers.Read More 0 Shares

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Kenya: Treasury to rebase GDP after new Eurobond tapJulians Amboko | Business Daily Africaon 16 June 2021 at 14:53 on 16 June 2021 at 14:53 on 16 June 2021 at 14:53 AFRICAN MARKETS: Business News

Kenya has kicked off its fourth Eurobond offer with a promise to review the size of the economy later in the year through a rebasing similar to the one conducted in 2014. Kenya has kicked off its fourth Eurobond offer with a promise to review the size of the economy later in the year through ….  Read More