Volatility and increased uncertainty in global markets last week meant extra demands for huge trading volumes on world markets. South Africa’s JSE Ltd. handled the increased action and it broke three trading records with record numbers of trades first on Wednesday and then again on Friday. At least one leading US exchange had some error trades last week.
Nigeria’s Securities and Exchange Commission (SEC) has new rules, according to local press. The new rules, signed by Director General Ms Arunma Oteh, became effective from 1 April
Inside the Somali pirates stock exchange, where their voyages are financed (and missing pirates mourned). An interesting story by Reuters.
South Africa’s JSE Ltd this week announced that it was close to creating Africa’s first “dark pool” for trading large orders. These are structures that allow bidders to post and transact very large orders or block orders without disrupting the market, for instance prices and volumes may not be revealed publicly before the trade but only get posted after the event.
South Africa could be the centre of mining finance for Africa, according to Mick Davis, CEO of international mining company Xstrata, as reported in the local Business Day newspaper. However, he is reported to have told a business school audience that restrictions by the JSE Ltd stock exchange and remaining exchange controls made this almost impossible to achieve.
Companies on Johannesburg’s Alternative Stock Exchange (AltX), a division of the JSE Ltd (www.jse.co.za), continue to struggle to attract sufficient mainstream attention. However, at a recent conference, one fund manager told them to concentrate on running their companies well and not to watch the share price continuously.
Kenya’s Government says it will float the first 25-year bond since the 1960s, as part an initiative to help financial institutions offer long-term debt products such as mortgages and project finance
Nigerian media has been writing about the succession of acclaimed Prof. Ndi Okereke-Onyiuke, set to withdraw as Director General and Chief Executive Officer of the Nigerian Stock Exchange in November 2010. She had pledged to stand down several times, linked to a planned demutualisation for the NSE.
Fears of the potential impact of IT disruption on African capital markets, combined with a long-running initiative to pool fragmented markets for more liquidity, led to a shock decision by the African markets association today to switch to a single African market platform at short notice.
Ethiopia may soon have corporate bonds, paving the way to a bond market, according to a press conference last week by Prime Minister Meles Zenawi. According to a report in the respected Fortune weekly newspaper, the Prime Minister told media on 18 March that state-owned enterprises would start issuing bonds
All the frameworks are in place for an Angolan stock exchange, and a first listing and official launch could be expected in the current year, 2010, says former Finance Minister José Pedro de Morais, Jr, who is closely involved n the board of the future bourse.
Sunil Benimadhu, Chief Executive Officer of the Stock Exchange of Mauritius: The Mauritius market lost 50% in, as investors worried about the fallout of the …
Sunil Benimadhu, Chief Executive Officer of the Stock Exchange of Mauritius: We have had lots of discussion on how to link different markets. Lots of …
Eduardo Vieira, President of Angolan stockbroker Novacao Corretora de Valores As the former minister has said, we strongly anticipate that there will be a stock …
Andre DeSimone, Kestrel Capital stockbroker, Nairobi The Nairobi capital market has seen a lot of volatility and many local institutions pulled out. At one point, …
We are blogging LIVE from the 5th Annual African Investment Conference, organized by stockbroker Securities Africa and Citigroup. This brings to London a lot of the top listed companies, and gives them chances for a series of one-to-one meetings with institutional and other investors.
The Nairobi Stock Exchange (www.nse.co.ke) has set mid-2010 as the target to launch a commodities exchange. It will be a joint effort by the National Cereals Produce Board (www.ncpb.co.ke), the Kenya Agricultural Commodities Exchange (www.kacekenya.com), Eastern African Grain Council (www.eagc.org) and NSE.
Uganda’s National Insurance Corporation (www.nic.co.ug), was oversubscribed after Uganda Shilling (UGX) 9.5 billion (US$4.6 million came in applications when Government offered its remaining 40% stake in the company in an 161,552,000 shares totalling UGX 7.2 bln.
The Government of Botswana has ended its P5 billion (US$722 million) bond issuance programme with an oversubscribed auction by the Bank of Botswana last Friday, 5 March, including introducing a 15-year bond.
The members and directors of the Nairobi Stock Exchange (www.nse.co.ke) have approved the demutualization of the Nairobi Stock Exchange, subject to enactment of requisite laws that will provide the legal framework.
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