Headquartered in Libreville, the Central African Stock Exchange (BMVAC) is one of only two regional bourses serving the Central African Republic, Cameroon, Chad, Congo, Equatorial Guinea and Gabon. Activity on BMVAC was relatively low in 2011, with just one public offering issued by Chad and limited secondary trading activity. However, the bourse has shown strong progress since its operations...
Financial Services
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Chapter | Capital Markets from The Report: Gabon 2012
In spite of the country’s relatively small population, there are 14 financial institutions, nine of which are banks. Two of these are majority-controlled by the state and the other seven are privately owned. The largest three banks – BGFIBank, BICIG and UGB – are responsible for more than 80% of loans and deposits made in the country. While penetration remains relatively low, Gabon’s expected...
Economic update | Turkey: New steps forward
19 Oct 2012
Having issued two highly anticipated Islamic bonds (sukuk) recently and boasting continuing expansion in the conventional banking segment, Turkey looks set to maintain its current growth trend in financial services. However, there is still some cause for concern, with one sukuk not performing as well as expected and the economy likely to miss its target of 4% growth for 2012.
Economic update | Nigeria: Markets on the rise
19 Oct 2012
The capital markets have done remarkably well this year, supported by economic growth and international investment, and underpinned by recent reforms that have increased stability and security.
Since 1953, when oil was first discovered near Port-Gentil, Gabon’s economy has been dominated by the petroleum industry. According to the BP “Statistical Review of World Energy 2012”, Gabon is the sixth-largest crude oil producer in sub-Saharan Africa and has the region’s fourth-largest proven reserves.
A series of large-scale government bond issues in Indonesia is the latest sign of the benefit of an improved credit rating in accessing international capital. The government is lining up a $1.75bn global bond issue for October, including a $1bn sukuk (sharia-compliant bond) and $750m worth of Japanese yen-denominated conventional bonds.