Market Insight: August 15, 2013

Africa

•  MTN to consider cutting workforce in effort to reduce costs and tackle falling subscriber numbers in SA
•  Ghana inflation rate rises to 11.8% in July as cedi weakens thus driving up costs
•  Egypt imposes emergency rule as police storm Islamist camps

Nigeria

•  ASI -1.24%, $46.29m
•  Large cross in Zenith Bank early on at N21 (both sides local) accounting for about half the day’s turnover. Activity picked up throughout the day yet sellers in banks (-70bps) and consumers (-2.62%) continue to drag the market lower

Kenya

•  NSE20 -0.23%, $76.5m
•  A cross in NMG of $68m the highlight of the day in Kenya as the NSE records a record turnover
•  Kenya Power temporarily reverses increase in connection charges after government agrees to subsidize cost

Botswana

•  DCI -1.13%, $148k

Egypt

•  EGX30 -1.70%, $46m

Mauritius

•  Semdex +0.52%, $611k

South Africa

•  Top40 +0.86%, $1.54bn

Zambia

•  LuSE unch, $19k

Zimbabwe

•  Ind -2.50%, Mining -3.05%, $3.16m

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

9.93

-14.71

Nigeria

NGN

160.90

-2.95

Kenya

KES

87.65

-1.77

Mauritius

MUR

30.85

-0.97

Botswana

BWP

8.53

+9.65

Tanzania

TZS

1619.00

-2.10

Uganda

UGX

2572.43

+4.09

Rwanda

RWF

660.09

-4.34

Ghana

GHS

2.09

-9.09

BRVM

XOF

494.44

+0.97

Egypt

EGP

6.98

-8.95

Morocco

MAD

8.42

+0.44

Tunisia

TND

1.65

-6.36

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833
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