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.
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.
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 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
The central depositories of Kenya and Nigeria have formed a joint venture Africlear Global with a custodian which is part of Altree Financial Services Group.
How will stock exchanges stay relevant by tackling the problems of their societies, and participating in the giant growth set to follow? That question was posed at the start of the World Exchange Congress in London today, with SME finance among the themes.
Nairobi is ranked the most attractive city for foreign direct investment (FDI) in Africa but North African cities and Johannesburg dominate the continent in an interesting PwC report, highlighting 20 African cities, because cities are the engine of growth worldwide and particularly in Africa.
South Africa’s Public Investment Corporation has established 2 funds and plans to invest at least $1 billion into African investments outside South Africa, including $213 million in the current financial year to March 2015.
Ethiopia saw soaring demand yesterday (4 Dec) for its debut $1bn Eurobond, after a quick US roadshow. Total demand was $2.6bn and the yield on the 10-year bond was settled at a relatively low 6.625%.
9 reasons Africa tops investors’ agenda, Eddy Njoroge told African Securities Exchanges Association, include: economy to rise from $1.1trn to $3.9trn in 5 years, the fastest-growing middle class (from 123m to 1.1bn), population to double to 2.4bn, and record $80bn of foreign investment.
The Ethiopian Government recently closed a $865m financing package to fund part of the development of the country’s giant new railway infrastructure, with 5,060km of rail costing up to $15bn.