The African Securities Exchanges Association (ASEA) has signed a contract on 30 July to procure an order-routing system to link stockbrokers on seven of Africa’s …
Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.
Charts circulated by Reuters show the rebased Nigerian economy as biggest in Africa, followed by sluggish South Africa, Egypt, Algeria, Angola and Morocco. They also show growth rates: oil-fuelled Ghana led the pack with historic growth of 10.2% a year over 2010-13.
The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.
The Egyptian Exchange (EGX) is busy with workshops for mutual funds and investment banks, aiming to boost trading volumes through better communications between market participants and listed companies.
The short-term challenge for the Egyptian Government is to mobilize domestic and foreign investment to create 800,000 jobs. This was the energizing call from Hesham Kandil, the Prime Minister of Egypt, opening the 16th African Stock Exchanges Association conference in Cairo 2012 #ASEA2012 today (3 Dec).
The Egyptian Exchange (EGX) has announced the 16th annual general meeting and flagship conference of the African Securities Exchanges Association (ASEA). This is the top conference for Africa’s capital markets. It will be Cairo on 2-4 December 2012.
Ethiopia has raised Birr 7 billion ($408 million) of debt to finance the $4.8 bn Grand Ethiopian Renaissance Dam on the Blue Nile River, and plans to issue more bonds to raise the finance domestically.
Mark Voss of fund manager Silk Invest foresees a turning point for the Egyptian market in a recent note. He also notes growth in Tunisia, with companies back to pre-revolution levels, tourism boom in Morocco, giant growth in Ghana and telecom payments innovation in Kenya.