“The African Development Bank (AfDB) announced on Thursday it collaborated with Bloomberg on the Launch of AFMISM Bloomberg an African Bond Index, through the African Financial Markets Initiative (AFMI)“, ZAWYA reported last Saturday. The new Bloomberg composite index is comprised of the following Bloomberg country specific local currency sovereign indices: South Africa Egypt Nigeria Kenya … Continue reading
“Barclays Africa Group Ltd.’s corporate and investment banking unit has approached Nigerian authorities for approval to convert its representative office to a fully-fledged business in the continent’s biggest economy,” Bloomberg reported today. The whole process to obtain the Nigerian licence may take around 12 months. Currently the following banks have operating licences in Nigeria: Standard … Continue reading
By International Crisis Group Why Is the Postponement, and Nigeria’s Wider Electoral Challenges, Important for Africa? Nigeria is Africa’s most populous country (est. 178 million) and largest economy (GDP over $500 billion). The growing risk of instability could have profound security, humanitarian and economic implications. Furthermore, any subversion of the country’s democratic progress could dampen democratic developments … Continue reading
Nigeria’s electoral commission, the Independent National Electoral Commission (INEC), announced on Saturday that it will postpone the nation’s February 14 Presidential and Legislative elections for six weeks, with a new date set for March 28, to allow time for a new multinational force to secure the northeastern region under the control of Islamic extremist group … Continue reading
By James Bachmann Boko Haram has entered a new phase in its war against Nigeria and its neighbours, as evidenced by the recent spate of attacks against key towns in northern Nigeria. In early January, Boko Haram attacked and occupied the northern Nigerian town of Baga in a brazen attack that resulted in as many … Continue reading
Nigeria’s sovereign credit rating is under increased stress amid the plunge in oil prices, which is compounded by violent attacks by the Boko Haram, according to Moody’s Investors Service, Bloomberg reports. Nigeria, which is Africa’s largest oil producer and also its largest economy, is falling under mounting pressure as violent attacks from the Boko Haram … Continue reading
Impact of the decline in oil revenue prompts austerity measures in high producing states. . By Abayomi Azikiwe Editor, Pan-African News Wire During 2014 many western-based financial publications declared that the Federal Republic of Nigeria had surpassed the Republic of South Africa as the largest economy on the continent. Nigeria relies heavily on oil exports … Continue reading
(This article was originally published in June 2014) By Thomas Chevillotte On April 6, the National Bureau of Statistics (NBS) announced new GDP figures for 2013. Although much anticipated, revised figure makes Nigeria the 24th-biggest economy[1] in the world moving from the frontier to the official emerging market status. Thanks to a new base … Continue reading
By ETFalpha Global Emerging Markets expressed as iShares MSCI EM ETF (EEM) have been remaining in both negative trend and momentum. However, if the recent market bounce appears to be sustainable during the week commencing December, 21st we may see momentum turing into positive territory. Assuming that’s the case we would be recommending to increase … Continue reading
By Min Zhu The growth story for frontier economies isn’t the same as China’s in the last two decades, or the United States a hundred years ago. These fast growing, low-income countries have their own story, and it’s not what you might think. In May of this year, I wrote about who they are and … Continue reading