Morocco

Egypt

AELP Link order platform to boost trading between African exchanges

The African Securities Exchanges Association (ASEA) has signed a contract on 30 July to procure an order-routing system to link stockbrokers on seven of Africa’s …

Cote d’Ivoire

Work starts on African exchanges linkage project

Africa’s stock exchanges, regulators, central banks, stockbrokers and clearing systems are working together on the African Exchanges Linkage Project (AELP), set to create trading and …

Capital raising

London Stock Exchange financing African growth

There are 108 African companies listed or trading on the London Stock Exchange with total market capitalization of over $200 billion ($271bn). In the last 10 years they have raised more than $16 bn on London’s markets.

Capital raising

How big are African pension funds?

Traditional assets under management in 12 African countries were $634bn in 2014, set to reach $1.1trn in 2020 (PwC). South Africa’s $124bn GEPF is the biggest but many other fast-growing African funds are also investing in infrastructure and private equity.

Cote d’Ivoire

Egypt is Africa’s new #1 investment destination

Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.

Events

Top speakers for BAFM capacity-building seminar 18-19 May

Leaders and movers of African capital markets are heading to Casablanca for the 6th Building African Financial Markets (BAFM) capacity-building seminar on 18-19 May, organized by Casablanca Stock Exchange with the African Securities Exchanges Association.

Funds

DPI private equity fund raises $400m

A leading African private equity house Development Partners International (DPI) has reached the first close of its second pan-African African Development Partners II (ADP II) fund at over $400 million.

Exchange news

FTSE Group working on Pan-Africa index with African Securities Exchanges Association

FTSE has launched a FTSE-ASEA index with the African Securities Exchanges Association, which will help to unlock Africa an investment for larger portfolio investors. The index covers stocks on 16 exchanges and is adjusted for investibility, including free float and liquidity.

Exchange news

African Stock Exchanges Association conference tackles key issues

Developing Africa’s securities exchanges is critical for the continent’s development, with capital markets standing between huge demand for capital for growth and huge demand to invest. The key issues are on the agenda of The 15th Annual African Securities Exchange Association conference (in Marrakesh, Morocco), hosted by Casablanca Stock Exchange, 12-13 December.

Egypt

Silk Invest says Egypt elections will be turning point

Mark Voss of fund manager Silk Invest foresees a turning point for the Egyptian market in a recent note. He also notes growth in Tunisia, with companies back to pre-revolution levels, tourism boom in Morocco, giant growth in Ghana and telecom payments innovation in Kenya.

Capital raising

Casablanca Stock Exchange grants to encourage SMEs

Morocco’s Casablanca Stock Exchange is offering grants to small and medium enterprises to encourage them to raise capital. The first listing of 2011 was 8.7x over-subscribed.

Capital raising

SANAD Fund to target SMEs in North Africa and Middle East

Tiny, small and medium businesses in Egypt and Tunisia, later Algeria and Morocco, are set to benefit from a new €30 million ($43.2 mn) SANAD Fund for MSME.

Exchange news

NYSE Euronext backs growth in African stock exchanges

NYSE Euronext Inc. has seen a threefold increase in the trading of African stocks on its exchanges over the past 5 years and twice as many exchange-traded funds (ETFs) focused on Africa in the past 12 to 18 months.

Egypt

Rencap has expansion plans

Renaissance Capital (www.rencap.com/eng), the Russian emerging-markets bank with operations in Africa, plans to expand next year into Egypt and at least 3 other African countries, according to a 5 October interview published on Bloomberg.

Exchange news

Casablanca Stock Exchange – some background

One of Africa’s biggest and most active stock exchanges is Morocco’s Casablanca Stock Exchange, set up as a joint stock company with a Supervisory Board and owned by the 17 stockbroking members. It has 74 listed securities and active daily trading.

Exchange news

Car dealer offers shares before double listing in Tunis and Casablanca

Tunisian car retailer Ennakl Automobiles, official distributor of Volkswagen, Seat, Audi and Porsche and part of the Group Princesse El Materi Holding, headed by Mohamed Sakher El Materi Holding, is offering 40% of its share capital for sale. This is preparation to a double listing of 30% of its capital on the Tunis stock exchange and 10% on the Casablanca stock exchange in Morocco. The offer is open from 23 June – 2 July.

Capital raising

Emerging Capital Partners targets North Africa construction

Emerging Capital Partners announced it has bought controlling stakes in Shoresal and Almes – both North African construction companies – for a total USD $26.2 million (www.ecpinvestments.com).