The African cement market offers some growth spots for investors despite excess capacity and competition

September 13, 2023, Uncategorized

Africa had c448.6mtpa of installed capacity in 2022, but with only c246.8mt of demand, excess capacity was 45%, and utilisation rate was c54.4%, on our numbers. The incumbents – Dangote Cement, Holcim Group and Heidelberg accounted for 39.6% of installed capacity. Chinese firms – Huaxin and West China Cement have made investments since 2020.   […]

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NCBA Group

August 17, 2023, Uncategorized

NCBA is at a turning point Our clients can request the full report with our analyst’s rating, target price, and full-year (FY) 2023 – 2027 forecasts. Following the merger of NIC Group and Commercial Bank of Africa (CBA) in Oct 2019, NCBA became the third largest bank in Kenya with a 9.3% market share (FY […]

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Frontier FX – Not yet out of the woods

August 15, 2023, Uncategorized

More pain still lies ahead   Over the last three years, frontier currencies have taken a notable beating due to the global turbulence of a post COVID-19 recovery and the Russia-Ukraine war. The sizable currency moves have helped contain the recent external pressure, with current account deficits narrowing across the board from their peaks in […]

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