Market Insight: October 14, 2013


Africa

•  Porsche aiming to enter 15 new countries, mostly in Africa, as part of growth strategy
•  DRC Prime Minister plans to tax miners in local currency in attempt to drastically reduce dollarization
•  Tanzania’s coffee prices edge higher as they track global trends

Nigeria

•  ASI +8bps, $22.38m
•  Activity picked up late in the session with banks +67bps, led higher by Zenith (+3.31%, N21.51)

Kenya

•  NSE20 -35bps, $11.7m
•  Robust foreign activity continues in Kenya as the market stabilized after an up and down week
•  Nakumatt has KES2bn “dent” after the Westgate attack

Botswana

•  DCI +22bps, $1.45m

Egypt

•  Closed

Mauritius

•  Semdex -12bps, $1.05m

South Africa

•  Top40 +75bps, $1.34bn

Zimbabwe

•  Ind +59bps, Mining unch, $520k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

9.91

-14.51

Nigeria

NGN

160.13

-2.49

Kenya

KES

84.80

+1.53

Mauritius

MUR

30.50

+0.16

Botswana

BWP

8.49

+9.13

Tanzania

TZS

1610.00

-1.55

Uganda

UGX

2546.00

+5.17

Rwanda

RWF

671.36

-5.94

Ghana

GHS

2.19

-13.04

BRVM

XOF

486.25

+2.68

Egypt

EGP

6.89

-7.64

Morocco

MAD

8.26

+2.40

Tunisia

TND

1.64

-5.45

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