Other Countries

Exchange news

Transaction costs slashed on Zimbabwe Stock Exchange

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.

Exchange news

Nigerian Stock Exchange seeks $33 mln for new software and Sierra Leone bourse

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.

Exchange news

Bill to regulate Rwanda’s capital market

A bill to regulate the capital markets and collective investment schemes was tabled in the Rwandan Parliament last week.

Kenya

African bonds roundup

Absa Capital, the investment banking arm of Absa Group, plans to work in a range of African debt markets, particularly in countries where Barclays Bank is active. New bonds are being issued in Namibia, Kenya and Uganda.

Exchange news

Bond issues for PTA Bank and Nigeria’s UBA Bank

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.

Other Countries

Chinese back Africa expansion with $1bn loan to SA’s Standard Bank

Cash-rich Chinese banks continue taking ground in Africa, with the announcement on 11 September that South Africa’s Standard Bank has a US$1 billion loan facility from four Chinese banks

Exchange news

Electronic trading in Uganda another step to East African market

The Uganda Securities Exchange (www.use.or.ug) is set to introduce electronic trading before the end of 2009 and an East African common stock market to be …

Exchange news

Gold Exchange-Traded Fund targets Botswana SE

Absa Capital wants to dual list its NewGold Gold Bullion Debentures Exchange Traded Fund on the Botswana Stock Exchange (BSE).

Exchange news

New draft law for Zimbabwe capital markets and listings changes

The Securities Commission of Zimbabwe, which regulates the stock market, has drafted a statutory instrument outlining general rules for stakeholders in the stock market, reports …

Exchange news

Tanzania thawing on East African integrated market?

Tanzania seems to be warming to the idea of linking the East African stock exchanges, in what could eventually be the development of a major integrated regional market.

Exchange news

JSE’s Africa Board: more travels and consultations

The JSE Ltd has three more countries in its first year programme, building links with leading issuers, regulators, brokers and African exchanges.

Exchange news

Sixth uranium dual listing for NSX

The listing bell rang at the Namibian Stock Exchange (www.nsx.com.na) on 4 August for the listing of West Australian Metals Limited (“WAM”) on the NSX’s …

Exchange news

African capital markets conference in September

A Regional Capital Markets Conference for Africa is to be held next month under the theme: “Towards effective regulation and development of an efficient capital …

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).

Exchange news

Zimbabwe Stock Exchange to demutualize

The process of demutualizing the Zimbabwe Stock Exchange has begun, according to Chief Executive Emmanuel Munyukwi, quoted in The Herald local newspaper. By selling shares …

Capital raising

West Africa private equity fund raises US$200 million

West African private equity fund manager African Capital Alliance (ACA) announced the first closing after raising US$200 million for Capital Alliance Private Equity III (“CAPE …

Exchange news

No trading on Rwanda’s Over The Counter Market

No trading on Rwanda’s OTC market for at least two days this week.