Technology

Capital raising

Tech will drive African IPOs

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.

Exchange news

DFIs hunt long-term gains in African financial services

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.

Other news

Bangladesh Central Bank hit for $951m, its cybersecurity relied on second-hand, $10 switches

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.

Exchange news

Sudan’s Khartoum Stock Exchange launches electronic trading system

Sudan’s Khartoum Stock Exchange inaugurated its electronic trading system on 24 March, which is funded by the African Development Bank.

Funds

Will Interswitch be Africa’s first $1bn tech “unicorn”?

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.

Exchange news

Global community heading to World Exchange Congress 22-23 March

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.

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).

Capital raising

Mwalimu Bank shares soar as Dar es Salaam enterprise market gains momentum

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.

Cote d’Ivoire

Cross-exchange trading between Ghana and Nigeria stock exchanges

Brokers on the Ghana and Nigerian Stock Exchanges in July achieved a first cross border securities trade under the stage “sponsored access” of West Africa’s capital markets integration first launched 2013. This opens the way for more cross-border deals.

Ethiopia

Ethiopian Commodity Exchange gets online trading platform

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”.

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

Kenya’s revolutionary mobile phone M-Akiba bond on 21 Oct

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.

Exchange news

Update 2 – Zimbabwe Stock Exchange automation successful

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.

Exchange news

UPDATE – Zimbabwe Stock Exchange delays automated trading

The Zimbabwe Stock Exchange (ZSE) has announced that it did not launch electronic trading today as planned and this has been delayed indefinitely.

Exchange news

Zimbabwe Stock Exchange launches electronic trading 3 July

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.

Other news

Launch of Africa Progress Panel report 5 June

Africa Progress Panel ground-breaking report coming on 5 June on fighting energy poverty, the effects and future of climate change, and Africa’s vast sustainable energy.

Capital raising

AfDB $400,000 seed equity to central depositories link Africlear Global

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.

Exchange news

Payments messaging booms in Africa

Payments and securities transactions are growing faster in Africa than in the rest of the world, according to financial messaging institution SWIFT. Traffic volumes of payments information in sub-Saharan Africa grew by 13.2% year to date.

Exchange news

Woes of Zimbabwe Stock Exchange

The value of trading on the Zimbabwe Stock Exchange fell 22% in the first quarter of 2015 (compared to 2014), the bourse has been hit by controversies and several delistings.

Exchange news

Zimbabwe central depository brings shares on board

Chengetedzai Depository Company Ltd, Zimbabwe’s central securities depository (CSD), was reported that the last securities had been brought on board in March 2015.