Africa Finance Daily

South Africa: Industrialisation key to spur African growth
7thSpace Interactive (press release)
South Africa had seen growing investment from India and China, and the country was also seeking out new investment opportunities. “We are trying not to make [the attraction of investment into the country] a step-child. There is an incredible amount of …

Kenya’s biggest banks see stronger H2
Reuters
NAIROBI, July 26 (Reuters) – Kenya’s biggest bank by assets, KCB, and its largest bank by depositors, Equity , expect to increase earnings in the second half of the year as lending picks up due to falling interest rates, the banks said on Thursday …

Nigeria Treasury Bills Yields Rise on Central Bank Action
Businessweek
The Central Bank of Nigeria sold 34.9 billion naira of 91- day bills at a yield of 13.94 percent, 19 basis points more than at an auction on July 11. It also sold 60 billion naira of 182- day securities with a yield six basis points higher at 14.94 …

Nigeria’s Skye Bank revises 2012 ROE target to 17 pct
Reuters
LAGOS, July 26 (Reuters) – Nigeria’s Skye Bank has raised its return on equity (ROE) target for 2012 to 17 percent from 15 percent, the lender said on Thursday, after the measure hit 15.6 percent in the first half of the year. The mid-tier lender last …

South Africa’s PPI Unchanged at 6.6%, Higher Than Predicted
Businessweek
The increase was “mainly due to higher electricity tariffs,” Nedbank Group Ltd. (NED), South Africa’s fourth-biggest bank, said in an e-mailed note to clients. “Producer inflation is expected to moderate in the months ahead.” Interest rates “will …

Africa’s Investment Benefits From Global Recession Set To Bypass South Africa
Ventures Africa
VENTURES AFRICA – With Africa’s economic recovery in full swing in spite of the global recession, the continent is set to become the investment destination for many companies, yet South Africa’s influence on this trade and investment will no longer be …

Ghana Eurobond Yield Falls to 1-Week Low on Outlook for Mahama
Bloomberg
The yield on Ghana’s $750 million Eurobond fell for a second day on the likelihood that President John Dramani Mahama will maintain policies and projects put in place by John Atta Mills, according to Eurasia Group. Former Vice President Mahama was …

Ghana to undertake over $1.5b ambitious projects under public-private …
Ghana Business News
The Director of the Public Investment Division of the Ministry of Finance and Economic Planning, Mrs Magdalene Appenteng, explained to journalists in Accra that the PPP policy had created the Infrastructure Finance Facility which would have to be …

Kenyan hotelier TPS’s H1 profit slumps 35.7 pct
Reuters
NAIROBI, July 26 (Reuters) – Kenyan hotelier TPS Eastern Africa posted a 35.7 percent decline in half year profits on Thursday, putting the fall in visitor numbers down to euro zone debt woes and security risks in Kenya. The operator of a chain of …

Ghana Oil Sees 20% Profit Growth as It Ventures to New Areas
Bloomberg
It will also open seven new stations in partnership with Chase Petroleum, a company based in Accra, with operations including the supply of fuel to ships in Takoradi, the capital of Ghana’s Western region, where Jubilee oil-field production activiti