Africa’s growth is slowing dramatically, says the International Monetary Fund, and is likely to be 3.75% this year and 4.25% next year. It could get worse if the global economy does not grow.
All 4 Namibian stockbrokers have switched their front-end links into the local bourse to the trading solutions supplied by IRESS, a leading global supplier of innovative securities, financial markets and wealth management technology.
Tanzania’s Dar es Salaam Stock Exchange topped the performance list for the 12 months to 31 Jan in USD, managing a 27% climb and beating the S&P 500 index which rose 11.9%.
The Johannesburg Stock Exchange saw the number of equity trades up 19% for the year 2014, compared to 2013 and it broke records for the highest daily value traded on 18 December when R53.7 billion of equity securities were traded.
South Africa’s Public Investment Corporation has established 2 funds and plans to invest at least $1 billion into African investments outside South Africa, including $213 million in the current financial year to March 2015.
The Johannesburg Stock Exchange equity market scored a record number of 395,969 securities trades on 16 October. The total value was just over R24.6 billion ($2.2 bn).
South Africa’s JSE launches 3 new currency future instruments which are the first to track exchange rate between the rand (ZAR) and Nigeria’s Naira (NGN), Kenya Shilling (KES) and Zambia Kwacha (ZMW).
The Johannesburg Stock Exchange (JSE) and the African Securities Exchanges Association (ASEA), supported by the World Bank Group, are hosting the third Building African Financial Markets seminar this week, bringing together stock exchanges, regulators, stockbrokers and others from across Africa.
Charts circulated by Reuters show the rebased Nigerian economy as biggest in Africa, followed by sluggish South Africa, Egypt, Algeria, Angola and Morocco. They also show growth rates: oil-fuelled Ghana led the pack with historic growth of 10.2% a year over 2010-13.
The Johannesburg Stock Exchange will host the 3rd Building African Financial Markets capacity-building seminar, in Johannesburg from 10-12 September.
The battle for stock exchange technology in Africa heats as Dar es Salaam Stock Exchange switches its trading, clearing and settlement to South Africa’s Securities and Trading Technology (STT).
Malawi came out as Africa’s top-performing exchange to USD-based investors over 2013 with a strong 62.4% return. Eight out of 13 African exchanges beat the S&P 500.
South Africa’s Johannesburg Stock Exchange (www.jse.co.za) is the world’s best-regulated stock exchange for the fourth year running. The 2013-14 Global Competitiveness Report by the World …
The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.
Africa’s 24 stock markets should learn to work together better if they are to seize high levels of investor interest, said Nicky Newton-King, CEO of South Africa’s JSE Ltd. She told an interviewer that plumbing, – technology and other links between exchanges and clearing and settlement – were more likely routes to more liquidity than trying to create a single exchange.