Telecoms, e-commerce and technology will be the driving force behind many of Africa’s coming initial public share offers (IPOs) as the continent’s telecom, media and technology (TMT) sector continues to grow fast.
Development finance institutions (DFIs) have made $6.5bn of investments in African financial institutions. They see long-term opportunities for gains and to catalyze development.
Police investigating the heist of $951m from Bangladesh’s central bank said it was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network. $81m is still missing after withdrawals from Bangladesh Bank’s account at Federal Reserve Bank of New York.
Sudan’s Khartoum Stock Exchange inaugurated its electronic trading system on 24 March, which is funded by the African Development Bank.
Nigeria’s digital payments and payment card giant Interswitch Ltd could become Africa’s first tech “unicorn” or technology company valued at over $1 billion. Private equity firm Helios is aiming to exit.
Momentum building ahead of the key event for the stock exchange community, the World Exchanges Congress, now in its 11th year and back in central London from 22-23 March.
The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.
The Ethiopian Commodity Exchange (ECX) has unveiled an online trading platform, eTRADE, that has capacity for nearly 5,000 times more transactions than its current “open outcry”.
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.
Kenya’s National Treasury will float a KES5 billion ($48.6 million) M-Akiba 5-year infrastructure bond on 21 Oct which will only be purchased through mobile-phone platforms. The minimum investment will be KES3,000 ($29.13) . The bond works with M-Pesa mobile money solutions where 23m Kenyans have accounts.
The Zimbabwe Stock Exchange started using its automated trading system (ATS) successfully on 6 July with rising volumes. It is a long-awaited change as the boursed move away from call over.
The Zimbabwe Stock Exchange (ZSE) has announced that it did not launch electronic trading today as planned and this has been delayed indefinitely.
Electronic share trading is to go live today, 3 July, at the Zimbabwe Stock Exchange. There are new trading hours and only dematerialized securities can trade.
The central depositories of Kenya and Nigeria have formed a joint venture Africlear Global with a custodian which is part of Altree Financial Services Group.
Chengetedzai Depository Company Ltd, Zimbabwe’s central securities depository (CSD), was reported that the last securities had been brought on board in March 2015.