May 11, 2017/AfDB The Board of Directors of the African Development Bank has approved a loan of US$ 226.5 million (ZAR 3 billion) to finance the Namibia Economic Governance and Competitiveness Support Programme (EGCSP). The operation is the Bank’s maiden policy based operation in Namibia and the first of two […]
Updates
Lafarge Africa Q1 2017 Results Review – Downgrading to Neutral
Culled—Proshare May 10, 2017/FBNQuest Research Potential EPS dilution likely to weigh on sentiment Lafarge Africa’s (Lafarge) Q1 2017 results showed that although PBT missed our forecast by around 10%, PAT came in well ahead (+96.9%), thanks to a positive surprise of N9.3bn in other comprehensive income (OCI). Following the results, […]
Diamond Bank Q4’16 and Q1’17 Results Review – Upgrading to Neutral Post Sell-off
Culled—Proshare May 10, 2017/FBNQuest Research Earnings estimates raised, but not as much as guidance implies Following Diamond Bank’s Q4 2016 & Q1 2017 results, we have increased our 2017E PBT forecast by 39% to N12.2bn. This estimate is considerably below management’s guidance of c.N20bn because of our conservative cost of […]
