Here, we delve into macroeconomic trends, monetary policies, and fiscal developments impacting the African economy.
Africa’s banking sector continues to demonstrate robust growth and resilience, with several institutions leading the way in terms of market capitalization. As of 2024, South African banks dominate the top spots, showcasing the strength and stability of the country’s financial system. Here’s a closer look at the largest banks in Africa by market cap. 1. … Read more
GCB Bank Limited emerged as the undisputed champion, showcasing a remarkable performance that eclipsed all other contenders. With a staggering 23.0% return in April 2024, GCB Bank reaffirmed its position as a stalwart in the financial sector. Let’s delve into the highlights of April’s stock market movements and examine the factors contributing to GCB Bank’s … Read more
The financial report for the first quarter of 2024 by Unilever Nigeria Plc reveals significant changes in the company’s foreign exchange revaluation, influenced by the volatile foreign exchange market in Nigeria. Key highlights from the financial report include: Read Also: Ghanaian Stocks November 2023 Insights and Year-End Strategies In summary, Unilever Nigeria Plc navigated the … Read more
Curtis W. Brantuo, the Deputy Managing Director of ARB Apex Bank PLC, has expressed optimism about achieving the World Bank’s Financial Sector Development Project (FSDP) goals in collaboration with Rural and Community Banks (RCBs) nationwide. In this post, we’ll delve into the details of the FSDP, the initiatives being implemented by ARB Apex Bank, and … Read more
The Ghanaian government is exploring alternative revenue-generating measures following the abandonment of its value-added tax (VAT) on electricity earlier this year. One of the proposed solutions is to tax the foreign incomes of resident Ghanaians. In this post, we’ll delve into the details, implications, and significance of this proposed tax measure. Details of the Revenue … Read more
In a significant move aimed at stabilizing the country’s monetary system, the Zimbabwe Stock Exchange (ZSE) has initiated trading in Zimbabwe Gold (ZiG), the nation’s new gold-backed currency. This development follows the recent decision by the country’s central bank to demonetize the Zimbabwean dollar as part of broader monetary policy measures announced on April 5th. … Read more
Kingsley Abrokwah, the founder of Ghanaian fintech startup KudiGo, has announced his decision to step down from the role of CEO of the company. The announcement was made via a LinkedIn post where Mr. Abrokwah expressed his intentions to transition to a non-executive director role within KudiGo. In his post, Mr. Abrokwah assured that despite … Read more
The Nigerian Stock Exchange (NSE) serves as a vital platform for investors to participate in the country’s economy. March witnessed a blend of movements among various stocks listed on the NSE. Here, we explore the performances of some notable stocks during the month: Top Performers: Stable Performers: Challenges Faced: Read Also: March 2024 Performance of … Read more
In March, the GSE witnessed varied movements among its listed stocks. Let’s enter into the notable performances of some key stocks on the exchange during the month. AngloGold Ashanti Limited (AGA) and AngloGold Ashanti Depositary Shares (AADS):AngloGold Ashanti, a renowned gold mining company, experienced a stable performance during March. Both its ordinary shares (AGA) and … Read more
In an unforeseen turn of events, climatic conditions are dealing a severe blow to the global cocoa industry, catapulting cocoa prices to unprecedented heights. The current market is witnessing cocoa prices surging past $7,300 per metric tonne, a stark contrast to the $2,000/MT to $3,000/MT range observed over the past two decades. El Nino Southern … Read more