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Qalaa Holdings: 3Q21 – despite revenue surge, losses are maintained; Maintain EW

Qalaa Holdings reported 3Q21 consolidated financial results posting a net loss post minority of EGP441 million, versus 2Q21’s net loss of EGP402 million and 3Q20’s net loss of EGP444 million. Consolidated debt stood at EGP63.1 billion of which EGP43....
Al Ahly Pharos Securities Brokerage Omar
Omar Attia @ Al Ahly Pharos Securities Brokerage 5 December 2021

OPEC+ unchanged with oil price near fiscal breakeven

OPEC+ stuck to its output increase plan on 2 December but with the proviso that it could immediately react to a significant hit to demand from the Omicron Covid variant. An oil price of cUS$70 (Brent), close to the year-to-date average, approximately...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 3 December 2021
OPEC+ unchanged with oil price near fiscal breakeven
OPEC+ unchanged with oil price near fiscal breakeven

Could Omicron turn out to be bullish for African assets?

OPEC+ yesterday decided to persist with its 400k barrels a day increase in output through January, a surprise decision given how prices have slumped recently. It also suggests that traders may take a break from the panic selling seen recently as the ...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 3 December 2021

GCB Bank: Q3 results show strong revenue growth and expanded loan book; Buy

GCB’s Q3 21 results showed 24% yoy growth in its EPS to GHS0.47, higher than the 21% yoy expectation. We maintain our Buy recommendation on GCB with a TP of GHS8.6, translating to an ETR of 65%. Operating efficiency improved as the cost/income ratio ...
Tellimer Research Gbemisola
Gbemisola Ogungbade @ Tellimer Research 2 December 2021

South Africa: SARB intends to change implementation framework for monetary policies

SARB wants to replace the reserve shortage system and solicits input by February. SARB mulls shifting to tiered floor system for the implementation of monetary policies. Shift to surplus reserves has advantages including stable interest rates and no....
EmergingMarketWatch Research
Research Team @ EmergingMarketWatch 2 December 2021

Food prices up to new peak but at least decelerating

The latest UN FAO World Food Price index (published on 2 December) showed a continuation of food inflation: up 1% mom, up 27% yoy and up 47% from the May 2020 trough. The silver lining is the deceleration in the pace of the increase (in October, the ...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 2 December 2021
Food prices up to new peak but at least decelerating
Food prices up to new peak but at least decelerating