Exchange news

Exchange news

Stockbroker bullish on Africa

International stockbroker Exotix (www.exotix.co.uk) is bullish on African equities and on growth prospects. According to the latest report “Top 30 Companies: sub-Saharan Africa excluding South Africa”, many share prices still have to catch up with the improved fundamentals and Africa has lagged the recovery in the stock markets of Brazil, Russia, India and China.

Exchange news

More activity on Zim SE after trading charges slashed

There is more trading on the Zimbabwe Stock Exchange after transaction costs were reduced, effective 10 January

Exchange news

Zimbabwe SE seeks to restore IFRS compliance by listed companies

The Zimbabwe Stock Exchange is seeking to reinforce International Financial Reporting Standards again on its listed companies. Many had stopped using the standards in runaway inflation, but the introduction of US dollar-based figures and transactions allows them to reintroduce it.

Exchange news

Share and debenture offers in Liberia

According to a report, the Central Bank of Liberia has given local company Cellcom permission to sell convertible debentures and the Liberia Bank for Development and Investment (LBDI) to sell shares although there is no formal stock exchange in Liberia.

Exchange news

New bond listing on Rwanda’s capital market

The capital market in Rwanda took another step forward with the listing on 22 January of a new Rwf2.5 billion (US$4.4 mln) two-year Treasury bond on the Rwanda Over The Counter (ROTC) exchange. According to the issuer, the National Bank of Rwanda (BNR), the bond has a 9.5% coupon rate.

Exchange news

Zimbabwe Stock Exchange dealing charges from 11 January

New dealing charges for the Zimbabwe Stock Exchange came into effect on 11 January 2010, a week ago. Total Both Sides 4.21%

Ethiopia

ECX sells another 150 seats

The fast-growing Ethiopian Commodity Exchange (www.ecx.com.et) on 31 December sold 150 full membership seats for a total of Birr 34 million (US$2.7 million). The new …

Capital raising

Multi-Asset exchange for Africa?

The Global Board Of Trade Ltd. says in March it will open an African multi-asset exchange in Mauritius that will be able to trade a basket of commodity and currencies derivatives and could later add trading in debt and equity products.

Exchange news

New SE indices in Botswana

The Botswana Stock Exchange has increased the number of indices from 5 to 8 with effect from 1 January. The new indices include the Domestic Companies Free Float Index (DCFFI), the Local Assets Status Free Float Index (LASFFI) and the Domestic Financial Service Free Float Index (DFSFFI).

Exchange news

SA upgrades Companies Act and accounting standards

South African listed companies are to change accounting standards next July, after the Department of Trade and Industry in December released the long-awaited regulations to the new Companies Act of 2008.

Exchange news

Botswana to upgrade rules for asset managers and advisers

Botswana’s Non-Bank Financial Institutions Regulatory Authority (NBFIRA) is talking to the World Bank on technical help to update laws and develop rules. The authority aims to upgrade the Collective Investment Undertaking Act and to develop new regulations for asset managers, custodians and investment advisors.

Exchange news

National Insurance to list in Uganda

An initial public offering (IPO) for Uganda’s National Insurance Corporation will be launched on 14 January and close on 5 February, according to a report on the Business Daily website. The listing will be on 25 March if all goes well.

Exchange news

Liberia considering stock exchange

Talks have started in Liberia on establishing a stock exchange and the Central Bank of Liberia is set to play a leading role, according to CBL Executive Governor Dr. J. Mills Jones.

Exchange news

More investment expected into African markets

The effect of the global financial crisis on Africa should be relatively short term says Standard Bank Emerging Markets strategist Michael Hugman, according to a …

Exchange news

Two new listings for Tunis Stock Exchange

Two new listings are heading to the Tunisian Stock Exchange (www.bvmt.com.tn) according to Tunisian online news sources www.tustex.com and Tunisia Online News (www.tunisiaonlinenews.com). Prominent regional …

Exchange news

Kenya seeks to change investor protection

Proposed amendments to Kenya’s Capital Markets Authority (CMA: www.cma.or.ke) Act would block institutional investors from getting compensation for money lost in cases of collapse of …

Exchange news

Exotix says Ghana index was worst of 2009 but may jump 30% in 2010

Stockbroker and investment bank Exotix Limited says the Ghana Stock Exchange’s All-Share Index has so far been the world’s worst performer in 2009, falling 49% after being among world beaters in 2008 with a 58% gain. London-based analyst Christopher Hartland-Peel says the index is likely to climb 25% to 30% in 2010 as the west African nation starts producing oil for export.

Exchange news

African Stock Exchange views – news from ASEA 2009 in Abuja

It has been hard to get news of the African Stock Exchanges Association this year, but news reports talk of integration between the Ghana and Nigerian stock exchanges and the Bourse Regionale des Valeurs Mobilieres, an African share prices index and better regulation and corporate governance.

Exchange news

Trade Google, Microsoft and other blue chips on the JSE Derivatives exchange

South African investors can trade two of the best-known IT names through the listing of single stock futures (SSFs) on Microsoft (www.microsoft.com) and Google (www.google.com) on the JSE Limited (www.jse.co.za) on 11 December.

Exchange news

East Africa’s new training institute will certify market practitioners

The curriculum of the Securities Industry Training Institute (SITI) has been launched in Kampala, Uganda.
SITI aims to standardize training on a wide range of programmes on capital markets and investments, corporate finance, asset management, entrepreneurship, corporate governance and other related fields of study. Eventually, all brokers, fund managers and investment advisors will require certificates to operate.