October 17, 2010

Exchange news

Alliance Assurances to be first private listing on Algiers Bourse

Insurance company Alliance Assurances plans an initial public offering on the Algiers Stock Exchange from 2 November for one month. It will be the first private company to list on the Bourse d’Alger.

Exchange news

About the Bourse d’Alger

The Bourse d’Alger was set up in 1997 under a 1993 law and started trading in 1999.

Kenya

Nigeria and Zambia joining African rush into bonds

Africa needs to spend $93 billion a year on power, transport and water projects over the next decade to lift growth in the world’s poorest continent. Bloomberg news agency reports that Nigeria appointed Barclays Capital in October as an adviser for a planned $500 million Eurobond to support government spending. Zambia plans to raise $1 billion on the back of a planned sovereign credit rating this year