African Markets Review 11 04 19
In Morocco, MUTANDIS published its results at the end of September 2019, displaying a turnover up by 6.6% to MAD 1,093m, an EBITDA increasing by 10.7% to MAD 175m, a CAPEX of MAD 52m and a net bank debt of MAD 342m against MAD 492m on 09/30/2018; In Tunisia, CELLCOM recorded a net loss of TND -3.4m in 2018 against TND -1.3m a year earlier; NATIONAL BANK OF KENYA’s net profit surged to KES 407m at end September 2019 against KES 21.97m a year earlier, following the take-over by KCB Bank; Among the covered African markets, the Nairobi securities exchange recorded the highest daily performance (+3.42%), whereas Nigeria Stock Exchange pointed the lowest one (-0.27%).
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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