South Africa

Exchange news

More trading records fall as JSE passed 200k trades in a day

South Africa’s full service securities exchange, the JSE Ltd, on 17 May recorded 205,748 trades valued at more than R20 billion (US$2.6 billion). This coincided with the JSE’s equity futures “close out” when trades in derivatives called futures contracts had to be settled.
It is the first time in its 123-year history that more than 200,000 trades have been done in a day. On 7 May 2010 the previous record number of trades was 189,253.

Funds

Consensus Business Group launches $92 million “clean tech” fund for Southern Africa

South Africa’s first, specialised, private equity clean technology fund, Evolution One Fund, has reached its final closing after raising R700 million (US$92 million) from local and foreign investors, including development finance institutions, a family office and sovereign wealth funds. This capital is to be invested into equity in clean technology projects and enterprises including new energy and environment focused technologies in South Africa and across the Southern African Development Community

Funds

Adlevo announced first closing on African technology fund

Adlevo Capital Managers (www.adlevocapital.com) announced on 10 June that it has completed the first closing of Adlevo Capital Africa LLC fund with capital commitments of US$52 million. The fund will make expansion capital investments into companies with technology-enabled business models across sub-Saharan Africa.

Exchange news

SA listed companies have to integrate sustainability reports

South Africa’s JSE stock exchange is requiring listed companies to integrate their sustainability reports with their annual reports, with effect from this month. According to a report in Business Day newspaper Mervyn King, chairman of the King committee and a leading expert on governance, said: “SA is among the first countries in the world to require integrated reporting of listed companies.”

Exchange news

JSE breaks 3 records for numbers of trades in global market volatility

Volatility and increased uncertainty in global markets last week meant extra demands for huge trading volumes on world markets. South Africa’s JSE Ltd. handled the increased action and it broke three trading records with record numbers of trades first on Wednesday and then again on Friday. At least one leading US exchange had some error trades last week.

Exchange news

JSE to offer “Dark Pool” for very large trades

South Africa’s JSE Ltd this week announced that it was close to creating Africa’s first “dark pool” for trading large orders. These are structures that allow bidders to post and transact very large orders or block orders without disrupting the market, for instance prices and volumes may not be revealed publicly before the trade but only get posted after the event.

Exchange news

“Regulation stops SA from being centre for Africa’s mining finance”

South Africa could be the centre of mining finance for Africa, according to Mick Davis, CEO of international mining company Xstrata, as reported in the local Business Day newspaper. However, he is reported to have told a business school audience that restrictions by the JSE Ltd stock exchange and remaining exchange controls made this almost impossible to achieve.

Exchange news

AltX companies struggle to attract investors

Companies on Johannesburg’s Alternative Stock Exchange (AltX), a division of the JSE Ltd (www.jse.co.za), continue to struggle to attract sufficient mainstream attention. However, at a recent conference, one fund manager told them to concentrate on running their companies well and not to watch the share price continuously.

Exchange news

Wilderness Safaris public offer aims for BSE and JSE Africa Board

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.

Exchange news

Imara Holdings on expansion path

Imara Holdings Ltd, an investment banking and asset management group with operations in 10 countries mostly in southern Africa, aims to expand in Zimbabwe, according to Zimbabwe’s Herald newspaper.

Exchange news

JSE’s Africa Board: Future gateway to Africa’s capital markets?

African Capital Markets News recently visited Johannesburg and has an EXCLUSIVE email interview with Geoff Musekiwa of the JSE on 2010 prospects for Africa’s securities exchanges.

Exchange news

Cost cut on real-time JSE data

Financial information company McGregor BFA is offering investors new products, Realtime, which will stream data from South Africa’s JSE Limited securities exchange at lower cost

Kenya

First African carbon credit scheme since Copenhagen

South Africa’s Nedbank has announced an agreement with international non-governmental organisation Wildlife Works Incorporated to launch an African carbon credit scheme.

Exchange news

SA upgrades Companies Act and accounting standards

South African listed companies are to change accounting standards next July, after the Department of Trade and Industry in December released the long-awaited regulations to the new Companies Act of 2008.

Exchange news

Trade Google, Microsoft and other blue chips on the JSE Derivatives exchange

South African investors can trade two of the best-known IT names through the listing of single stock futures (SSFs) on Microsoft (www.microsoft.com) and Google (www.google.com) on the JSE Limited (www.jse.co.za) on 11 December.

Exchange news

JSE trades gold, platinum and crude oil futures contracts

South Africa’s securities exchange, the JSE Ltd (www.jse.co.za), is offering trading in gold, platinum and sweet crude oil futures contracts on its commodities derivatives market.

Exchange news

Innovation and trading boom on Africa’s biggest exchange

Trading soared 31% in number of deals on the JSE Ltd (South Africa’s Johannesburg Stock Exchange) and the merger with teh Bond Exchange of South Africa was finalized, promising dynamic new growth in the South African interest-rate market.

Capital raising

AUREOS Africa Fund reaches $318 mln

Aureos Africa Fund has increased funds under management to US$318 million

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.

South Africa

Investec strengthens balance sheet ahead of SA recession

With South Africa’s recession expected to hit profits, specialist investment banking group Investec said on 28 July it would place up to 22 million new …