AFMI Weekly Insight May 4th 2018

4 May 2018


Headlines 

  • Angola came to market on the 2nd of May offering a 30-year Eurobond with initial price talk of around 9.625 percent, along with a 10-year tranche at 8.5 percent.
    Source: Bloomberg.com/africa
  • Nigeria’s government mobilized about N171 billion (around $3.2 billion) as tax revenues during the first three months of 2018, said the Federal Inland Revenue Service (FIRS).This amount is up by N393 billion (about $1 billion or 51%) from the N778.1 billion ($2.16 billion) collected within the same period in 2017.
    Source: agenceecofin.com
  • Botswana's central bank left its Bank Rate steady at 5.0 percent, saying the state of the economy and the outlook for domestic and external activity suggests the current monetary policy stance is consistent with inflation within its objective range of 3-6 percent. 
    Source: africanmarkets.com
  • Angola's central bank left its basic interest rate (BNA) at 18.0 percent and said it had sold 735.94 million euros to commercial banks in March, pushing up total sales this year to 2.246 billion from 1.510 billion in February.
    Source: africanmarkets.com
  • Tunisia: the first Tunisian rating agency, PBR Rating, started its activities on 3 May 2018.
    businessnews.com.tn
  • Ethiopia’s year-on-year inflation rate fell to 13.7 percent in April from 15.2 percent the previous month. The Central Statistics Agency said food inflation fell to 16.1 percent from 19.9 percent. Non-food inflation rose to 10.8 percent from 10.0 percent
    Source: af.reuters.com

Currencies

Source: Bloomberg®

AfDB/AFMI℠ Bloomberg® African Bond Index (ABABI) 25% Capped

The ABABI 25% Capped is a rule - based weighted composite index of local Sovereign Indices (South Africa, Egypt, Nigeria, Kenya, Namibia, Botswana, Ghana, and Zambia).

County percentage composition to the index is capped at 25%.

To be included in the index, a security must have at least 1 year remaining to maturity. Source: Bloomberg®

Bloomberg Commodity Index

Source:  Bloomberg®