South Africa

Capital raising

Africa IPO round-up

Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.

Exchange news

New South African stock exchange ZAR X to start 3 October

Trading is to start on South Africa’s new ZAR X securities exchange on 3 October. It gained a licence on 2 September and the first listings will be Senwes and  Senwes Beleggings, with up to 5 listings planned for first week October.

Exchange news

About 4AX – new South African securities exchange

South Africa’s second new exchange, which also got a licence according to the 2 September announcement by the Financial Services Board (FSB), is 4AX, also known as 4 Africa Exchange. It plans to trade securities that are currently traded over-the-counter (OTC) and to go live early in 2017.

Exchange news

Ethos Capital PE lists after R1.8bn oversubscribed private placement

Ethos Capital listed on South Africa’s JSE on 5 August after R1.8 bn ($131m) oversubscribed private placement creates liquid vehicle for private equity investors.

Exchange news

JSE switches to T+3 on 11 July

The Johannesburg Stock Exchange is switching to a shorter T+3 settlement cycle for the equity market from 11 July. Currently it works on T+5.

Exchange news

JSE Clear gets approval from European regulator ESMA

The JSE-owned derivative central counterparty (CCP) JSE Clear has been recognized by the European Securities and Markets Authority (ESMA).

Exchange news

South Africa – politics affects the market, damaging savings and jobs

On 13 Dec the Johannesburg Stock Exchange JSE spelled out how the sacking of South Africa finance minister Nhlanhla Nene and market reactions to political moves had affected people’s savings, jobs and hopes in the previous 4 days.

Events

Africa’s securities exchanges summit next week

Africa’s securities exchanges gather for their flagship conference in Johannesburg from 15-17 November. The 19th African Securities Exchanges Association annual summit is hosted by Johannesburg Stock Exchange.

Nigeria

IMF cuts African growth forecast

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.

Exchange news

Namibia’s stockbrokers switch to IRESS to access NSX

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.

Exchange news

Botswana supermarket raising $48m in JSE dual-listing

Botswana supermarket chain Choppies Enterprises launches a roadshow to raise $48m and dual-list shares on the main board of JSE securities exchange on 27 May.

Capital raising

IPOs soar as Africa’s capital markets raise $11bn

• US$11bn IPO and FO proceeds raised in 2014 in African equity markets • US$37.4bn proceeds raised from 2010 to 2014 • 24 African IPO …

Exchange news

Dar es Salaam Africa’s top stock exchange to 31 Jan

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%.

Exchange news

JSE number of equity trades up 19% in 2014, scores daily records

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.

Capital raising

South Africa’s PIC aims to invest $1bn into African private equity and development

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.

Exchange news

Johannesburg Stock Exchange scores record with 395,969 equity trades in one day

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).

Exchange news

JSE launches futures trading for 3 African currencies

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).

Exchange news

JSE and ASEA host African exchanges for capacity-building

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.

Egypt

Nigerian and African economies.. after the rebasing

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.

Exchange news

JSE seminar on African capital markets development

The Johannesburg Stock Exchange will host the 3rd Building African Financial Markets capacity-building seminar, in Johannesburg from 10-12 September.