Traditional assets under management in 12 African countries were $634bn in 2014, set to reach $1.1trn in 2020 (PwC). South Africa’s $124bn GEPF is the biggest but many other fast-growing African funds are also investing in infrastructure and private equity.
African pension fund regulators and PPP practitioners have much to learn from Latin American examples on how to let local funds invest into infrastructure, while building the capital markets, plus round-up of some recent research papers.
A round-up of recent African IPOs and other listings, many over-subscribed, shows demand and innovation – Namibia scored its first SPAC and Mauritius listed GDRs.
Investors have been snapping up Africa-focused IPOs of shares; future listings include a reported offer by Vivo Energy and AfriTin, Cytonn Investments and Hystead.
Investor institutions are protesting moves by UK capital-markets regulator, Financial Conduct Authority, to alter listing standards to accommodate a potential $2 trillion listing of Aramco on the London Stock Exchange, the world’s biggest listing.
Vodacom Tanzania’s extended $213 million IPO closed 28 July and results are to be announced 7 August, with the listing on the Dar es Salaam Stock Exchange due 15 August.
Some 40,000 Tanzanians subscribed for the TZS476 billion ($213 million) initial public offer (IPO) of Vodacom Tanzania Ltd.
The extended deadline for the initial public offer (IPO) of I&M bank Rwanda is 10 March. The Government of Rwanda is selling its 19.8% stake with an offer of 99m shares at RWF90 ($0.11) each.
Here is my article on a critical area for Africa to develop, creating the atmosphere for productive investments by fast-growing pension funds. Published in African Banker magazine.
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
The Korean Exchange (KRX) has grown to be the world’s third biggest stock exchange for listing and trading SMEs by creating a virtuous cycle in which growth generates cash-flows which in turn fuel more growth.
Total bids for the initial public offer (IPO) of shares in the Dar es Salaam Stock Exchange PLC was TZS35.8bn ($16.4m). This is 4.8 times the offered amount of TZS7.5bn ($3.4m) in the IPO which closed on 3 June. The DSE will self list on 12 July.
Telecoms, e-commerce and technology will be the driving force behind many of Africa’s coming initial public share offers (IPOs) as the continent’s telecom, media and technology (TMT) sector continues to grow fast.
In New York 30 US frontier investors, stockbrokers and market specialists joined Edoh Kossi Amenounve, CEO of the West African regional exchange BRVM, to give their inputs to strategy development for the fast-growing stock market.
The Dar es Salaam Stock Exchange Plc will launch its initial public offer soon, after completing the demutualization. The Capital Markets and Securities Authority, said the bourse can raise TZS 7.5 billion ($3.4 million) by issuing 15 million ordinary shares at TZS 500 each.
Law firm Baker & McKenzie forecasts that African initial public offers (IPOs) of shares will raise over $3.1 billion in 2016 with 15 IPOs in the pipeline.
Funding for start-up companies in the technology space was nearly $185.8 million in 2015, according to research by website portal isrupt Africa. More growth is expected in 2016.
The Rwanda Stock Exchange is expecting 3 IPOs in the coming months, to bring the equities listed for trading to 10.
The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.
The Dar es Salaam Stock Exchange (DSE) aims for an IPO in 6 months followed by listing and calls for lead transaction advisor, stockbroker and other experts by 21 July
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