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.
Conservation tourism pioneer Wilderness Safaris is aiming for a primary listing on the Botswana Stock Exchange (www.bse.co.bw) and a simultaneous secondary listing on the Johannesburg Stock Exchange’s Africa Board on 8 April. The company’s Botswana and South Africa share offers are set to close on 26 March.
Imara Holdings Ltd, an investment banking and asset management group with operations in 10 countries mostly in southern Africa, aims to expand in Zimbabwe, according to Zimbabwe’s Herald newspaper.
Ethiopian Commodity Exchange hosted a meeting to form a body for African commodities exchanges and launches speciality trading system, currently trading speciality high-quality coffees.
According to Zimbabwe’s Herald newspaper (www.herald.co.zw), it is only months before the introduction of a hub-and-spoke interconnectivity model for SADC stock exchanges as “the first significant step towards the integration of one of Africa’s economic regions”.
The Uganda Securities Exchange (www.use.or.ug) was set to open the Securities Central Depositary at on 18 February, according to local news.
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 …
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