At the August meeting of the MPC, the Bank of Namibia hiked rates by a further 25BP (following the 25 point hike in June). While not completely expected, this move is positive for the broad macro-conditions in Namibia. More to follow…….
The Top40 and Alsi have been in what appears to be free-fall today, as BHP Billiton’s earnings miss forecasts, and the announcement that it is splitting off nickel, aluminum and other assets into a new company that could be valued at more than US$20 billion. However, we see this move… Continue reading
As reported in today’s IJG Daily, Fitch Ratings Agency yesterday downgraded Telecom Namibia Limited’s (TN) Long-term local currency Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ and its National Long-term rating to ‘A-(zaf)’ from ‘A(zaf)’, putting both ratings on a negative watch. The agency noted that “The downgrade reflects our view… Continue reading