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2015 was not a great
year for some of Africa's major Markets BOTSWANA DOMESTIC COMPANIES INDEX had the best performance with 11.62% NIGERIA STOCK EXCHANGE ALL SHARE INDEX performed the worst with -20.83% Based on YTD data as of December 24th for B&O tracked markets
AFRICA'S MAJOR COMMODITY EXPORTS HAVE
ALSO NOT FARED WELL CRUDE OIL, NATURAL GAS and COPPER are all down by more than 15% compared to the beginning of the year COCOA futures have performed better than Energy and Copper Futures at 18%+ Supporting data sourced from investing.comBased on YTD data as on December 24th, 2015
former general buhari elected nigerian
president Image courtesy of Wikimedia In April 2015, President Muhammadu Buhari became the first Nigerian to defeat a sitting president through the ballot box. President Muhammadu Buhari was elected as president of Nigeria after defeating the incumbent President Goodluck Jonathan by 2.7 million votes. President Muhammad Buhari was elected largely on his campaign promise to clean up corruption as well as to eradicate the Boko Haram terrorist group.
Magufuli elected as 5th president
of tanzania Image courtesy of Wikimedia John Pombe Magufuli became the 5th president of Tanzania after winning the general election under the party slogan, Chama Cha Mapinduzi (CCM). Magufuli has gained attention across the globe as a result-driven, penny pinching and no-nonsense candidate as evidenced by his visit to the Ministry of Finance two days after his inauguration where he took roll call. In a move to cut cost across all facets of government, Magufuli's cabinet announcement had only 19 ministeral appointments compared to 30 ministers from the past government
BOKO HARAM FULANI MILITANTS 10
African countries were ranked among the top 20 Global Terrorism Index list 6600+ 1200+ AL SHABAAB 1000+ DEATHS DEATHS DEATHS WORST GROUPS Number of African deaths caused between 2010 and 2014 3 - NIGERIA 8 - SOMALIA 9 - LIBYA 13 - EGYPT 14 - CENTRAL AFRICAN REP. Data culled from Global Terrorism Index 2015 by the Institute for Economics & Peace 15 - SOUTH SUDAN 16 - SUDAN 18 - KENYA 19 - CONGO 20 - CAMEROON
egypt planning development of new
administrative capital The Egyptian government announced plans to construct a new administrative capital, east of Cairo. A project is estimated to cost Egypt $45 billion and is estimated to take five to seven years to complete. The new city is projected to consist of more than 600 health care facilities and almost 2000 education institutions. As a core aim to revive the economy of Egypt, the new city has received massive aid and investment in terms of pledges amounting to about $12 billion from Saudi Arabia, Kuwait, and the United Arab Emirates. Image courtesy of Wikimedia
nigeria communication commission fines mtn
$3.9 billion Image courtesy of Wayan Vota via Flickr The Nigerian Communications Commission fined Africa's largest telecommunications provider $5.2 billion for failure to disconnect unregistered SIM lines by the required deadline. The fine triggered a crash in trading for MTN's stock and trading had to be temporarily suspended. The fine which has since been reduced to $3.9 billion is required to be completely paid off by the last day of 2015. Meanwhile, MTN has proceeded to challenge the fine in a Nigerian court to avoid the crippling fine.
ghana power crisis Ghana faced
near economic meltdown due to frequent power cuts which affected a lot of businesses in Ghana. Lamenting that Ghana was a victim of its success, the government attributed that a record of 12 per cent growth per annum increased the demand for power tremendously. Cyclic power shortages in Ghana have also been attributed towards changing water levels at the Akosombo hydroelectric dam, which is associated to contribute about half of the power supply in the country Image courtesy of Clint Mason via Flickr
jacob zuma appoints two finance
ministers within 5 days Image Coutesy of Baynham Goredema via Flickr South African president, Jacob Zuma, fired the country's finance minister Nhlanhla Nene without any warning on Dec 9th and replaced him with David Van Rooyen, a lawmaker with very little governmental finance experience. This rash decision caused an uproar within South African and International markets causing the rand currency to fall to its lowest level against the dollar since 2008. This caused Zuma to re-think his decision and appoint Pravin Gordhan, the current minister of cooperative governance to the position.
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