Market Performance | Overview

Moody's has announced its latest outlooks for nine banking sectors across Africa, with four negative, three stable, and two positive.

According to the African Stock Exchanges Focus Report by Oxford Business Group, African stock exchanges have an overall market capitalization of about $1.6 trillion which makes up about 2% of the global stock market capitalization.

African sovereigns will continue to face steep borrowing costs in the international market in the near term due to attractive rates on offer in the US financial market, complicating efforts to retire maturing Eurobonds for several states in the next two years.

Societe Generale has signed two agreements with Vista Group which plan the total divestment of Societe Generale group’s shares in its local African subsidiaries:  Société Générale Burkina Faso and Banco Société Générale Moçambique, currently owned at 52.6% and 65% respectively.