African Markets Review 12 11 2020
- In Morocco, ATTIJARIWAFA BANK obtained the market regulator approval for (i) a perpetual subordinated bond issue with loss absorption and coupon cancellation mechanisms for the amount of MAD 500m and (ii) a subordinated bond issue in an aggregate amount of MAD 500m;
- In Tunisia, AGROTOP will build a large vertical integration project in the country, which will be one of the largestbroiler farms inWest Africa;
- In Egypt, EGYPT ALUMINIUM reported a 30% increase in sales in the first quarter of 2020-21 compared to the previous quarter to reach EGP 2.19bn;
- Overall bearish trend in most of the covered African markets, with the BRVM Stock change recording the best daily performance (+0.98%) while Nigeria Securities Exchange posted the worst one (-1.27%).
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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