Frontier Markets: Articles of the Week (11th Nov – 17th Nov)
Compilation of Frontier Market related articles across the web from 11th November 2019 to 17th November 2019. Last week’s edition can be found here.
AfDB and Partners Sign $600m Loan Agreement To Boost Cocoa Production in Ghana
The African Development Bank (AfDB), Credit Suisse AG, the Industrial and Commercial Bank of China, and Ghana Cocoa Board (COCOBOD) have all signed a $600m loan agreement in a bid to boost cocoa productivity in Ghana. The funds will be used to help increase cocoa plant fertility, improving irrigation systems and also expanding warehouse capacity, as well as providing support to local cocoa-processing companies.
Vietnam’s Banking Sector Becomes More Attractive To Investors
A positive outlook, as well as an acceleration in global economic integration, have all contributed to the growing attractiveness of Vietnamese banks’ shares to foreign and domestic investors.
The Namibian Stock Exchange To List First Bonds’ ETF
The Namibian Stock Exchange (NSX) has announced that it will list the bourse’s first bond-related exchange traded funds (ETF) in a bid to attract potential investors into gaining exposure to fixed income classes. It will consist of 10 constituent bonds and will track the S&P Namibia Soverign Bond 1+ Year Top 10 Index. The ETF will also be listed on South Africa’s Johannesburg Stock Exchange (JSE).
Nigeria ETF Surges As Local Investors Turned To Equity Market
The Gloval X Nigeria Index ETF (NYSArca: NGE) soared by over 5% during the week and traded at seven times its average daily volume as local investors turned their attention towards liquid banking shares after being shut out of a treasury auction. Access Bank, FBN Holding, FCMB and Wema Bank all saw their share prices rise by over 9%.
Argentina Central Bank Seen Seeking Weak Peso Under Fernandez
Alberto Fernandez, Argentina’s Preside-elect, is reportedly preparing to boost the country’s economy via weakened its currency, according to two people with direct knowledge of the strategy.
Sri Lanka Election Body Declares Gotabaya Rajapaksa Winner Of Presidential Poll
Former defence secretary Gotabaya Rajapaksa was declared the winner of the presidential election in Sri Lanka on Sunday after winning 52.25% of the votes, while rival Sajith Premadasa only managed to gain 41.99%.
Key Statistics Of The Week:
- Tanzania’s YoY Inflation Rate for October increased to 3.6% (vs 3.4% previous).
- The October Unemployment Rate in Kazakhstan remained unchanged at 4.8%.
- Kazakhstan’s Balance of Trade doubled in September to $1.8bn (vs $0.9bn previous).
- Mongolia’s Q3 Unemployment Rate fell to 9.9% (vs 10.1% previous).
- Latvia’s Q3 Unemployment Rate fell to 6% (vs 6.4% previous).
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