Commodities, internal markets and governance will drive Africa’s growth, say experts
Experts launching the 5th Annual Africa Investment Securities Africa said they could see more growth coming in the 2nd biggest continent.
Menu
Experts launching the 5th Annual Africa Investment Securities Africa said they could see more growth coming in the 2nd biggest continent.
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 website www.africaniscool.com has been upgraded with a newsletter. According to CEO Rob Stangroom: “Our newsletter contains mostly original content and is targeted at investors, regulators and listed companies in Africa. Our goal is to increase awareness of issues related to online shareholder communications.”
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.
A Marketplace on Innovative Financial Solutions for Development (www.fininnov.org) is to be held in Paris on March 4-5, 2010. It is dedicated to innovative financial mechanisms for better mobilizing, channelling, and using funds and aims to collect and highlight fresh ideas on financial solutions for development at global, regional and local levels.
The Kenyan Government’s Privatisation Commission is taking the next step towards selling a portion of Consolidated Bank of Kenya Ltd by appointing PricewaterhouseCoopers as transaction advisers. It is on the list of 23 State-owned enterprises to be privatized.
Telecoms have attracted some of Africa’s biggest and most lucrative equity deals and the 14 Feb sale of $10.7 billion of telecom assets further indicates the rising power from the East, this time India.
The regional governors of the African Development Bank (www.afdb.org) have unanimously backed a bank proposal to increase the general capital. According to a communiqué issued at the end of the 12 February meeting: a “200% increase would allow the Bank to serve client countries and entities within them.” The bank also recently successfully issued a $1 billion bond.
The Commonwealth Business Council has a top lineup for its Africa Investment Forum, due to be held from 8-10 February in Accra, Ghana in conjunction with Ghana Investment Promotion Center (GIPC)
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.
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.
The Africa Health Fund, managed by private equity fund manager Aureos Capital has made its first investment, acquiring a stake in the Nairobi Women’s Hospital for US$2.66 million. This is the first investment by the fund which was launched in June 2009 and aims to raise $100 million, with a final close this year (2010).
Agricultural private equity fund Agri-Vie will reach its target of raising $100 million for investment in agricultural projects by February or March, according to an interview with Reuters. It says there is plenty of potential and plans a second fund of up to $300 million. Earlier in January the fund made 2 investments totalling $10 mln in 2 agricultural projects in Ethiopia and across the region, and it is close to finalizing a $4 mln investment in Tanzania.
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.
South Africa’s Nedbank has announced an agreement with international non-governmental organisation Wildlife Works Incorporated to launch an African carbon credit scheme.
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 …
A Global Index Insurance Facility has been launched as an insurance scheme to help compensate for certain catastrophic events, depending on their severity. The GIIF is supported by the International Finance Corporation, the EU and the Netherlands Ministry of Foreign Affairs.
KenGen’s KSh25 billion (US$336 million) bond launched the Automated Trading System (ATS) of the Nairobi Stock Exchange (NSE – www.nse.co.ke) on 9 November.
Africa will have a large role in US$750m Actis Infrastructure 2 fund, which closed on 6 October. The pan-emerging markets fund focuses on power generation and transport.
Copyright 2021 Ⓒ African Capital Markets
Web Design by Brilliant Digital