Uganda is set to join Kenya and Nigeria in developing derivatives trading as the nation’s markets regulator approved plans for another bourse in East Africa’s third-biggest economy. ALTX Africa Group Ltd., based in Port Louis, Mauritius, may open the exchange in the fourth quarter, Keith Kalyegira, chief executive officer for […]
Author: InvestAdvocate
Stanbic IBTC Profit up 116%, Retains dividend at 10 Kobo per Share
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Mid-tier lender Stanbic IBTC Thursday reported a 116 percent (116%) pretax profit in its audited year end 2013. To record the 116% increase in pretax profit, the Nigerian lender posted N24.617 billion in 2013 compared to N11.412 billion in the corresponding period of year 2012. […]
Ghana Raises Bank Cash Limits to Boost Worst Africa Currency
Ghana’s central bank kept its benchmark interest rate unchanged, while raising the cash reserve requirement for lenders to help curb inflation and bolster the worst-performing African currency this year. The Monetary Policy Committee left the rate at 18 percent, Governor Kofi Wampah told reporters today in the capital, Accra. That […]
