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14 December 2016

Atta Africa Financial Update

Executive summary:Despite a tumultuous year for politics around the world, one of Africa’s leading democracies has confirmed its ability to sustain high governance standards and acknowledge voters’ concerns. Presidential elections in Ghana last week were closely watched by the regional and international community, in the hope that slower growth would not translate into social and political disruption. Positive sentiment for the region was at stake.

Opposition candidate Nana Akufo-Addo took over 53% of the vote to the incumbent’s 44%, resulting in a celebration of Ghana’s seventh peaceful presidential election. Oxford-educated Mr Akufo-Addo is a respected lawyer expected to implement his party’s historically pro-business policies. Ghana is likely to see renewed business confidence and FDI as a result of its confirmed solid democratic values.

Fact:The world’s most remote place lies in the South Pacific, known as “Nemo Point” - the closest humans are astronauts in the ISS occasionally drifting overhead

Equator Capital to back Jamii Bora

 
  • Equator Capital is backing Jamii Bora for the second time this year, investing US$5.9 million for a 15% stake in the Kenyan bank

Nigeria unveils 10-point roadmap to reset economy
 
  • The federal government has unveiled a 10-point fiscal roadmap, designed to stimulate the economy and set it on the path of recovery and growth
  • A major component of the roadmap is to replace administrative measures on the list of 41 items with fiscal measures to reduce demand pressure on foreign exchange at the parallel market