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Middle East & Africa


Nigeria to raise 55bn naira bonds LAGOS: Nigeria plans to sell 55 billion naira ($340.14mn) in bonds with maturities of five and 20 years at its seventh monthly debt auction of the year on July 17, the Debt Management Office said on Tuesday.The debt office said it would issue 20 billion naira in debt notes maturing in April 2015 and 35 billion naira in the July 2030 paper, using the Dutch Auction system.All the notes are re-openings of previously issued paper and the result of the auction is expected the following day.Nigeria, Africa's second most developed bond market, issues bonds at monthly auctions to deepen the local fixed income market, help lenders manage their liquidity and raise cash to fund the budget deficit.Copyright Reuters, 2013 ...

Egypt pound inches weaker at Monday forex auction CAIRO: The Egyptian pound edged weaker at a central bank foreign exchange auction on Monday but it strengthened on the black market.The bank said it sold $38.9 million to banks at the auction, with the cut-off price weaker at 6.9858 Egyptian pounds to the dollar compared to 6.9835 at Thursday's auction.On the black market, one dealer in central Cairo quoted 7.55 pounds to buy dollars and 7.60 pounds to sell dollars, compared to 7.58 and ...
South Africa Treasury says appoints managers for foreign loan JOHANNESBURG: South Africa's Treasury has appointed Standard Bank, Deutsche Bank and Rand Merchant Bank as joint-lead managers and Investec as co-lead manager for the issuance of a foreign currency loan, it said on Wednesday."The loan will form part of the government's financing of its foreign currency commitments as stipulated in the 2013 budget documents," it said, adding that the process of issuing a Sukuk remained in place as a medium-term project. Copyright Reuters, 2013 ...
Oman govt considers dollar bond issue in 2014: DUBAI: Oman's government is considering a proposal to issue dollar-denominated sovereign bonds sometime in 2014, which could lead to regular bond sales in the future, the oil exporter's central bank said on Wednesday."By re-establishing Oman's presence in the international bond market, a sovereign issue could pave the way for regular deficit financing through bond issues in future, if need be," it said in a financial stability report. Copyright Reuters, 2013 ...
South Africa's rand falls 1.2pc to new 4-year low against dollar JOHANNESBURG: South Africa's rand fell more than 1.2 percent to a fresh 4-year low against the dollar on Tuesday, extending earlier losses in a market bracing for what is likely to be a weak first quarter GDP print.The rand hit 9.7130 per dollar, its weakest level since March 2009, compared with Monday's close at 9.5914.Copyright Reuters, 2013 ...
Nigeria sells 110bn naira in bonds, yields up LAGOS: Nigeria sold 110 billion naira ($698.86 million) worth of bonds with maturities ranging from five years to 20 years at higher yields across, apart from a note maturing in 2015, the Debt Management Office (DMO) said on Thursday.All notes are re-opening of previously issued bonds.The debt office said it sold 35 billion naira in the 20-year bond, 25 billion naira in the 7-year paper and 50 billion in the 5-year notes.The DMO sold the ...
Nigeria plans 121bn naira T-bill auction LAGOS: Nigeria plans to sell 121.33 billion naira ($771 million) worth of treasury bills with maturities ranging from three months to one year at its twice-monthly auction on May 22, the central bank said on Wednesday.The bank said it will auction 20.65 billion naira in 91-day bills, 30 billion naira in 182-day notes and 70.68 billion naira in 364-day paper, using the Dutch auction system.Yields at the last T-bill auction on May 9 fell as ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln