December 16, 2010

Exchange news

East Africa securities training for thousands

The International Finance Corporation and East Africa’s Securities Industry Training Institute (SITI), based at the Uganda Securities Exchange have signed an agreement to broaden training over the next 10 years. This will be used to licence market participants.


Plans for Nigeria’s $500 mn Eurobond

Citigroup expects to see strong demand for Nigeria’s $500 million debut Eurobond despite volatility in global capital markets. It plans roadshow this week.

Exchange news

Kenya regulator cuts bond charges, banks still push for bond OTC market

Kenya’s Capital Markets Authority has cut the cost of trading bonds from 0.04% per cent (KSh400 for every KSh1 million transacted) to 0.035% (KSh350 for every KSh1 mn) in order to pass on the lower costs due to automated trading on the Nairobi Stock Exchange. Banks say they still want an Over-The-Counter market to trade bonds alongside the NSE.