Another step has been taken towards the appointment of the new Director-General for Nigeria’s Securities and Exchange Commission. The Senate last week confirmed the appointment of Ms. Arunma Oteh, currently Vice President Corporate Management at the African Development Bank (AfDB) and focusing on the bank’s institutional development.
The Uganda Securities Exchange (www.use.or.ug) is seeking innovative steps to make its market more relevant to the development needs of the local economy by relaxing listing rules to allow smaller and medium-size enterprises.
Kenya is considering speeding up plans to privatize the Nairobi Stock Exchange (www.nse.co.ke), the biggest market in East Africa. The aim is initially that stockbrokers …
Zimbabwe’s 2010 budget includes slashing transaction costs on the Zimbabwe Stock Exchange (ZSE) by more than half, to 3.21% (buying 1.73%, selling 1.48%) from 7.5%, according to a local stockbroker.
The recently formed Egyptian Financial Supervisory Authority (www.efsa.gov.eg) is tightening regulation for listed companies and other financial market intermediaries. It is working with the Egyptian Stock Exchange (www.egyptse.com) to combat insider trading and improve disclosure, including urging better investor relations skills. Good regulation is critical to attracting local and foreign investment.
The African Securities Exchanges Association (ASEA) is set to discuss “Global Crisis: Opportunities for African Capital Markets” within 2 weeks. The 13th ASEA conference will be hosted by the Nigerian Stock Exchange (NSE) from 2-5 December 2009.
The Nigerian Stock Exchange is seeking some US$33 million in capital for its fifth software upgrade and also to help finance the Sierra Leone stock exchange.
From 9 November, Nigeria’s Securities and Exchange Commission is to call stockbrokers and other market participants before its Administrative Proceedings Committee (APC). This is part of joint investigations into the financial sector.
Extracts from the keynote speech by US stockbroker Jonathan Auerbach at a joint conference between his company, Auerbach-Grayson & Company, Nedgroup Securities and Nedbank Capital on 5-6 October in Johannesburg.
Three excellent sites offer fine material and services on promoting investor relations, and feature an enticing line-up of online published annual reports of listed companies from all over Africa as well as many other useful tips and advice.
The Nairobi Stock Exchange (NSE) has readvertised its request for IT vendors to express their interest in providing a Broker Back Office (BBO) system to handle administration and client accounts for its 18 active and licensed stockbroking members. The closing date is 27 October.
A bill to regulate the capital markets and collective investment schemes was tabled in the Rwandan Parliament last week.
South Africa’s securities exchange, the JSE Ltd (www.jse.co.za), is offering trading in gold, platinum and sweet crude oil futures contracts on its commodities derivatives market.
Kenya’s Capital Markets Authority is giving limited refunds to people who lost money with stockbroker Nyagah Securities which collapsed in 2008 and it has set up a telephone hotline for people to report suspect dealings.
New bond issues are springing across Africa, including Kenya’s Kengen issue for more power generation which closed on 29 September, and bank issues in Nigeria and Uganda.
A leading Kenyan stockbroker says local investment company TransCentury already trades “Over The Counter” and plans to list its shares for trading on a stock exchange.
The brightest and best of Africa’s capital markets were highlighted in New York on 21 September at an awards dinner.
The winners of the Africa investor Index Series Awards
Trading soared 31% in number of deals on the JSE Ltd (South Africa’s Johannesburg Stock Exchange) and the merger with teh Bond Exchange of South Africa was finalized, promising dynamic new growth in the South African interest-rate market.
Regulators and players in the Nigerian capital markets hope recent actions against five banks will restore confidence in the market, but it looks as if the storm is not yet over.
Copyright 2021 Ⓒ African Capital Markets
Web Design by Brilliant Digital