Corporate profits growth, benign default outlook may offset higher interest rates in 2018 – Moody’s
Businessam Staff
January 5, 2018
Moody’s Capital Markets Research Inc. has predicted a climb in global interest rates in 2018 but said that interest-rate inspired declines by the broad equity indices may be shallow on account of growth in corporate earnings and benign corporate defaults. “Though benchmark interest rates are likely to climb higher, the combination of corporate earnings growth […]
Why Africa accounts for 57% of world’s active mobile money accounts
Businessam StaffJanuary 4, 2018
Limited access to main suite of financial services offerings, especially credit cards has driven mobile money adoption in sub-Saharan Africa. According to analysts at Ecobank Research in an infographic released recently on Twitter, 57 percent of world’s active mobile money accounts are domiciled on the continent in 2016, a development most analysts say is as […]
New Zimbabwe government seeks to sell stakes in state-owned companies
Businessam StaffJanuary 4, 2018
Zimbabwe has invited bids for stakes in up to eight loss-making state-owned enterprises, including its national airline and power utility, to help plug a ballooning budget deficit, its deputy finance minister said on Wednesday. President Emmerson Mnangagwa, who took over from Robert Mugabe two months ago, is under pressure to deliver on his promises to […]
Nigeria’s FX reserves up 10% in November- CBN
Businessam StaffDecember 30, 2017
Nigeria’s foreign exchange reserves stood at $37.92 billion as of Dec. 22, up 10.1 percent from a month earlier, central bank data showed on Friday. The government raised $3 billion in Eurobonds in November. Nigeria’s forex buffer has climbed nearly 50 percent since last December but is still far off a peak of $64 billion […]
There’s hidden way for investors to score big on tax reform- Goldman Sachs
Businessam StaffDecember 25, 2017
Goldman Sachs says to look at downtrodden small-cap stocks for stock-picking opportunities in the aftermath of GOP tax reform. When the dust around the tax bill settles, the firm says there will be plenty of chances for active managers to identify single stocks with upside potential. If the biggest firms on Wall Street can agree […]
Wiese sells more Shoprite stock as Steinhoff extends plunge
Businessam StaffDecember 21, 2017
Steinhoff International Holdings NV’s biggest shareholder, Christo Wiese, increased the amount he has raised from selling shares in food retailer Shoprite Holdings Ltd. to 3.3 billion rand ($259 million) as his net worth continues to slide amid an accounting scandal. Wiese’s liquidation of assets comes as Steinhoff’s stock extended its drop this month to 93 […]
Bank of Japan holds rates, damps down speculations of rate hike in near term
Businessam StaffDecember 21, 2017
Haruhiko Kuroda, Bank of Japan (BoJ) chief, has damped down speculation that the central bank is preparing the ground for raising interest rates next year amid a global wave of policy tightening by central banks led by the Federal Reserve. The BoJ kept its monetary policy in place Thursday as inflation remains stubbornly low in the […]
Primewaterview receives 2nd drawdown of $5m financing facility from Milost Global
Businessam StaffDecember 19, 2017
Primewaterview Limited, a Nigerian based real estate development & investment company, has announced that it has received the proceeds of the second drawdown of $5 million from the $2 billion financing facility previously committed by Milost Global Inc., a U.S. private equity firm. Palewater Advisory Group Inc. is the adviser to the transaction. The company […]
Why you should be spending more money in 2018
Suzanne WoolleyDecember 19, 2017
With so much advice out there about saving money, being encouraged to spend could sound a little weird. But that’s what some financial services firms are telling retirees to do—to make a New Year’s resolution to use more of those dollars they’ve been socking away. With about 10,000 baby boomers turning 65 every day, more attention is being paid to “decumulation” strategies—the process […]
Nigeria’s central bank to auction N1.27trn treasury bills in Q1 2018
Businessam StaffDecember 15, 2017
Nigeria plans to sell N1.27 trillion worth of treasury bills in five auctions in the first quarter of 2018, according to the Central Bank of Nigeria’s Treasury Bills Issuance Calendar, seen by Businessamlive. Specifically, the CBN would offer N87.71 billion in the three-month paper, N244.27 billion in the six-month bill and N933.61 billion in a […]