Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Absa Africa Financial Markets Index: Signs of progress amid regional economic weakness
October 18, 2018--Botswana, Kenya and Nigeria have moved up the Absa Africa Financial Markets Index, produced by the Official Monetary and Financial Institutions Forum, and South Africa remains in top position, supported by strong financial market infrastructure and a robust legal framework. However, South Africa's macroeconomic performance has deteriorated over the past year.
Notably, the country no longer tops the index across all six pillars as it did in 2017, having been overtaken by Kenya on 'access to foreign exchange' and by Nigeria in 'market transparency, tax and regulatory environment'. Nigeria is a new entrant to the top five, as a result of Namibia falling to sixth place from fourth this year.
The five highest ranked financial markets in the 2018 index are: South Africa, which remains in the top position; Botswana, which rose to second place from third last year; Kenya, which climbed two spots on improved access to foreign exchange; Mauritius, which moved down to the fourth place from second last year; and Nigeria, owing to improvements in administrative efficiency and tax incentives that have boosted the country's regulatory environment.
view more
Source: Absa Bank Limited
JSE closes weaker as stocks erase gains
October 17, 2018--The JSE erased earlier gains to close weaker on Wednesday as blue-chip stocks withered.
view more
Source: FIN24
Rand 'rides wave' as Turkish lira firms
October 16, 2018--The rand has continued to strengthen on the back of lower-than-expected US retail sales as well as a firmer Turkish lira, firming to a high of R14.28 to the greenback on Tuesday morning
view more
Source: FIN24
Rand gains on weaker US retail numbers
October 15, 2018--The rand was trading a percent stronger on Monday afternoon.
view more
Source: FIN24
Rand on front foot as currency firms to under R14.50/$
October 12, 2018--The rand strengthened almost 1.5% against the dollar in early trade as the US currency continued its slide on poor inflation data.
view more
Source: FIN24
Relief for global stocks sees JSE close firmer
October 12, 2018--Tencent Holdings which has broken stock market records on the course of its sell-off over the past couple of weeks, ricocheted to close 8.01% higher.
view more
Source: FIN24
IMF-Sub-Saharan Africa Regional Economic Outlook: Capital Flows and The Future of Work
October 11, 2018--The macroeconomic outlook for sub-Saharan Africa continues to strengthen. Growth is expected to increase from 2.7 percent in 2017 to 3.1 percent in 2018, reflecting domestic policy adjustments and a supportive external environment, including continued steady growth in the global economy, higher commodity prices, and accommodative external financing conditions.
While fiscal imbalances are being contained in many countries, the adjustment has typically occurred through a combination of higher commodity revenues and sharp cuts in capital spending, with little progress on domestic revenue mobilization. Over the medium term, and on current policies, growth is expected to accelerate to about 4 percent, too low to absorb the likely flow of new entrants into labor markets.
view the IMF-Sub-Saharan Africa Regional Economic Outlook: Capital Flows and The Future of Work
Source: IMF
Rand rides Mboweni wave-but strong dollar remains a threat
October 10, 2018--The local currency gained 1.8% against the greenback on Tuesday, an indication of positive market reaction to the announcement that the former SA Reserve Bank governor had been named finance minister.
view more
Source: FIN24
Naspers leads losses on the blue-chip index
October 10, 2018--The bearish sentiment in Tencent has not spared Naspers on the JSE which is also under a sharp sell-off. In today's session Naspers slumped 6.47% to close at R2656.98 per share.
October 9, 2018--The rand touched R15/$ on Tuesday afternoon, amid continuing uncertainty over the fate of SA's Finance Minister Nhlanhla Nene and a marginally stronger dollar.
view more
Source: FIN24
