1st Quarter 2017 Issue 39 An IC Publication

MOROCCO OPEN FOR BUSINESS

Africa’s zombie banks Kenya’s calamitous bank closures Are Africa’s capital markets making a comeback?

EUROZONE €8.00, UK £5.50, USA $9.95, CFA Zone CFA5.000, Egypt E£40, Ethiopia R100, Gambia Da100, Ghana GH¢12.00, Japan ¥1400, Kenya KShs580, Kuwait KD2.500, Mauritius MR300, Morocco Dh60, Nigeria N1000, Sierra Leone LE 20000 Singapore S$14, South Africa R50.00 (inc tax), Other Southern African countries R43.90 (excl tax), Switzerland SFr15.00, Tanzania TShs10,000, Tunisia TD5.000, UAE Dh30, Uganda USh15,000, Zambia ZMK 30