Africa Finance Daily

Kenyan Overseas Remittances Jumped 47 Percent in First Half
Bloomberg
Remittances to East Africa’s largest economy climbed to $99.5 million in June, up from $71.9 million a year earlier and down from $101 million in May, the Nairobi-based Central Bank of Kenya said today in a statement on its website. Kenya relied on …

Kenya 91-day T-bill yield falls to 12.864 pct
Reuters
NAIROBI Aug 2 (Reuters) – The weighted average yield on Kenya’s benchmark 91-day Treasury bill fell to 12.864 percent from 13.226 percent last week, the central bank said on Thursday. It received bids worth 12.9 billion shillings ($153 million) for the …

Liberty Holdings looking to West Africa
Moneyweb.co.za
JOHANNESBURG – In 2006, Liberty was a business confined within the borders of South Africa, save for a small presence in Namibia. Today, the financial services group Liberty Holdings (JSE:LBH) is Africa’s third largest life insurer by market value and, …

SA Should Be Hub of Foreign African Investment
AllAfrica.com
SA is uniquely place to be the hub of foreign investment into sub-Saharan Africa according to Brand SA CEO Miller Mathola. Mathola added that foreign investments were expanding beyond resource extraction to other sectors including telecommunications …

Rand Declines for Fourth Day as ECB Fails to Reassure Investors
Bloomberg
South Africa’s currency retreated 0.5 percent to 8.3876 per dollar as of 3:42 p.m. in Johannesburg after strengthening as much as 1.2 percent. Yields on 6.75 percent bonds due 2021 climbed two basis points to 6.68 percent. Draghi, who pledged last week …

US seeks African inroads as China lavishes investment
Deutsche Welle
The US and China, the world’s largest economies, are competing for African investment partners. US Secretary of State Hillary Clinton has begun her 11-day tour of Africa by emphasizing democracy, a rhetorical jab aimed at growing Chinese influence on …

World Bank Extends N32 Billion Infrastructure Loan to Nigeria
AllAfrica.com
The World Bank has announced plans to contribute towards addressing the huge infrastructure deficit in Nigeria, with the provision of N32 billion ($200 million) as seed fund to set up a Financial Intermediary Loan (FIL) scheme under the Public Private …

Falling Oil Price, Threat to Nigerian Economy – Sanusi
AllAfrica.com
The worsening situation in the Euro zone and rising global food prices may also push inflation higher, Sanusi said in an interview on Nigeria investment conference, adding that the country’s slower growth and tighter fiscal discipline could counter …

South Africa Vehicle Sales Growth Accelerates in July
Businessweek
… of South Africa said in an e-mailed statement today. Sales growth increased from 15.6 percent in June. The median estimate of three economists surveyed by Bloomberg was 14.2 percent. Vehicle-sales growth has quickened even as a debt crisis in …

China Trade, Investment Grows in Africa
Voice of America
Chinese Premier Hu Jintao lauded the relationship at a recent forum in Beijing attended by senior officials from more than 50 African countries, including South Africa’s President Jacob Zuma, Côte d’Ivoire’s President Alassane Dramane Ouattara and …