Tom Minney

Exchange news

London Stock Exchange issues reports on African bonds, SME finance, passive flows and corporate information

London Stock Exchange Group has launched 5 reports on African capital markets, developed as part of its London Africa Advisory Group (LAAG) to put forward recommendations on developing African capital markets further to increase global investment flows.

Ethiopia

World Bank $1.2bn to supporting financial sector in Ethiopia

The World Bank has announced that it will give a $600m grant and a $600m loan towards supporting reforms in Ethiopia’s financial sector including improving the investment climate, according to Reuters, plus technical support.

Events

Exploring African bond markets at Livingstone

Africa’s bond market gurus meet in Livingstone, Zambia, on 29 October, to discuss trends and developments in the local currency bond markets. The 3 day gathering is organized by the African Financial Markets Initiative AFMI, which highlights African Development Bank’s leading role to develop Africa’s domestic local currency bond markets, establish best practices and document lessons.

Exchange news

African bond markets statistics

Statistics on African local currency bond markets from African Financial Markets Initiative (AFMI) annual report 2017: Total outstanding amount African bonds and bills up 13% to $413bn in 2017, more than 80% of the total comes from 5 countries.

Uncategorized

Key questions to boost credibility of impact investing in Africa

Clear industry guidelines can help address credibility concerns on impact investing in Africa, and could help accelerate the allocation of investors’ capital into impact investments.

Capital raising

Politics getting better, Ethiopia ready for business says Arkebe Oqubay at UK-Ethiopia forum

A packed room of businesspeople and investors assembled in London on 16 October to hear about opportunities and news at the UK-Ethiopia Trade & Investment Forum 2018. Leader of the delegation was Arkebe Oqubay, Economic Advisor to the Prime Minister, who gave a detailed overview of events of the last 6 months and the big ambitions driving Ethiopia.

Capital raising

12 questions Silicon Valley investors ask – focus for African policymakers

African tech superstar Alysia Silberg (General Partner, Street Global Venture Capital) says African policymakers keen to boost investment into Africa’s fast growing tech sector can focus on 12 investment questions asked by Silicon Valley.

Other news

Rising debt tide threatens credit ratings across Africa

Credit ratings across Africa have been falling, and global rating agency Moody’s says the last 12 months saw far more downgrades than upgrades out of its 24 African sovereign ratings. Seven credit ratings are on negative outlook and only Morocco is on positive outlook.

Exchange news

SEC Nigeria leads FSD Africa programme to boost capital markets regulators

Funding organization FSD Africa is launching a 3-year programme to improve skills of Africa’s capital market regulators. The Securities and Exchange Commission SEC Nigeria is the first capital-market regulator after signing an agreement worth £450,000 ($585,200) on 28 September.

Capital raising

Do Africa’s $372bn pension fund assets facilitate inclusive growth and social stability?

Africa’s $372bn pension fund assets – do they facilitate inclusive growth and social stability? Is the money well invested, including capital markets and equities, private equity and infrastructure development? Bright Africa report by RisCura.

Exchange news

First African fixed income ETF listed in Mauritius, tracking bond index

African Development Bank (AfDB) and Mauritius Commercial Bank Group (MCB) have launched the African Domestic Bond Fund (ADBF), a pioneer exchange-traded fund (ETF) accessible to investors through listing on 18 September on the Stock Exchange of Mauritius.

Exchange news

Liquidity and cost of trading on Africa’s stock exchanges – Bright Africa 2018

RisCura’s annual Bright Africa report into African securities exchanges is out and highly-recommended. Key challenge to investors, African stock exchange operators and regulators remain: liquidity, free float and cost of trading. Broker commissions are high, but with low trading volumes they need incentives to change.

Other news

Consensys ramps up blockchain rollout in African financial markets with new appointment

Leading blockchain innovator Consensys continues to ramp up its role in shaping the future of financial services and capital markets in Africa with the recruitment of fintech veteran Ian Bessarabia.

Other Countries

New $60bn US development finance institution arriving soon

The USA is creating a new International Development Finance Corporation with streamlined capacity for investment and doubling the investment cap to $60bn. IDFC will replace the Overseas Private Investment Corporation and draw together several other US investment initiatives.

Capital raising

Recent Africa share listings news

Roundup of recent African share listing news including Old Mutual’s move back to Johannesburg, Grit Real Estate Income Group and ASA International microfinance debut on the London Stock Exchange debut, a green bond in Nigeria and the 9th listing on South Africa’s A2X Markets exchange.

Capital raising

Some African IPOs – August 2018

Roundup of African share offers (IPOs) for investors, including CIPLA-QCI closing 24 Aug in Uganda, Giza Spinning and Weaving in Egypt and telco MTN listings in Uganda, Ghana and Nigeria.

Exchange news

Mobile phone app for trading on Zimbabwe securities exchanges

Investors can use their smartphones to check share and bond portfolios and send orders to stockbrokers in Zimbabwe with an online and mobile trading platform called C-Trade from today (4 July).

Capital raising

Meet FINSEC, Zimbabwe’s second securities exchange

Zimbabweans have a second option for regulated securities trading: Financial Securities Exchange (Private) Limited (FINSEC) is licensed by the Securities and Exchange Commission of Zimbabwe as a securities exchange (alternative trading platform).

Capital raising

Why Ethiopia needs a stock exchange as it liberalizes

One of Africa’s biggest economies. Ethiopia, announced a transformational liberalization and privatization campaign. But there is no Ethiopian stock exchange, limiting participation by citizens and domestic savings funds, and cutting transparency.

Capital raising

Africa-focused Vivo Energy soars after £548m IPO on London SE

Africa’s £1.98 billion ($2.68bn) megalisting Vivo Energy (VVO) soared in its first 2 days of trading on the London Stock Exchange (dual-listed in Johannesburg ) on 10-11 May after a successful initial public offer (IPO) raised £548m.