African Capital Markets News recently visited Johannesburg and has an EXCLUSIVE email interview with Geoff Musekiwa of the JSE on 2010 prospects for Africa’s securities exchanges.
Financial information company McGregor BFA is offering investors new products, Realtime, which will stream data from South Africa’s JSE Limited securities exchange at lower cost
The closure today (5 February at 5pm local time) of the share offer of Uganda’s National Insurance Corporation Limited (www.nic.co.ug) is likely to result in a rush for shares. It is the first listing on the Uganda Securities Exchange (www.use.or.ug) since 2006.
A new CEO started work at the Dar es Salaam Stock Exchange (www.dse.co.tz) and share prices surged in the following days, although market participants denied any connection with the appointment.
The Rwandan capital markets are set for growth in 2010, including plans for a first local initial public offer (IPO) and developing the Rwandan stock exchange. In an interview with East Africa Business Week, the Executive Director of the Rwanda Capital Market Advisory Council Mr. Robert Mathu outlined what to expect.
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.
There is more trading on the Zimbabwe Stock Exchange after transaction costs were reduced, effective 10 January
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.
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.
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.
New dealing charges for the Zimbabwe Stock Exchange came into effect on 11 January 2010, a week ago. Total Both Sides 4.21%
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 …
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.
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).
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.
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.
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.
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.
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 …
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 …
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