Why Are Kenyan Agricultural Stocks So Cheap?

from Investing in Africa..

Photo by CIAT

Kenya investors don’t seem to like agriculture stocks, and I’m not sure I understand why.

Over the past five years, the Nairobi Stock Exchange’s benchmark NSE-20 Index lost 30.5% of its value. But each of the market’s eight agricultural stocks performed better than that. Much better. In fact, they actually posted a 41.8% gain during the same time frame.



Malawi maize crop seen down

from Business Recorder, Pakistan’s Premier Financial Daily

BLANTYRE: Malawi’s maize crop is forecast to fall this season by around 7 percent to 3.6 million tonnes, the southern African country’s agriculture ministry said on Wednesday.


Qatar’s QInvest May Own Majority of New Bank With EFG-Hermes

from Bloomberg News..

By Alaa Shahine – Apr 26, 2012 8:57 AM ET

EFG-Hermes Holding SAE said Qatar’s QInvest LLC may hold a majority stake in a planned investment bank that would take over the Egyptian bank’s brokerage, investment banking and asset management businesses.


Malawi to Devalue Kwacha 40% to Unlock Aid by Meeting IMF Terms

from Bloomberg News..

By Andres R. Martinez and Frank Jomo – Apr 27, 2012 6:00 PM ET

Malawi will devalue its currency, the kwacha, by 40 percent to unlock blocked aid by meeting conditions set by the International Monetary Fund, President Joyce Banda said.

The government has resumed relations with the U.K. and held talks with the IMF, World Bank and U.S. after the death of Bingu wa Mutharika, the leader who clashed with western donors, Banda said. She was sworn-in as president of the southern African nation this month after Mutharika died of a heart attack on April 5.