Zambia Forest lists on Lusaka Securities Exchange
Zambia Forestry and Forest Industries Corporation PLC today (12 February) brought welcome relief to the Lusaka Securities Exchange when it broke a 6-year listing drought. The listing was for the full 400 million shares, after an offer of 160m shares (40%) at ZMW2.06 each to raise ZMW330m ($22.5m). The forestry firm will use the proceeds […]
Malawi Stock Exchange to start automated trading in May
Malawi Stock Exchange is set to go live with an automated trading system (ATS) by end May and 30 April is start date for dematerialization as shareholders move physical certificates onto the Reserve Bank of Malawi electronic Central Securities Depository.
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).
Stock exchange experts urge focus on small and medium enterprises
An international panel of securities exchange experts has set up a task force to help securities exchanges raise capital for small and medium-size enterprises (SME), including the possibility of establishing a specialized SME exchange.
Tunis Stock Exchange IPO is largest listing
The listing of Société d’Articles Hygiéniques (SAH), on the Tunis Stock Exchange on 9 Jan after a private placement and an oversubscribed initial public offer (IPO) is the largest listing on the Tunis bourse, valuing the company at $163.5 million.
Egypt’s Nilex exchange for SMEs adds 23rd listing
The Egyptian Exchange (EGX) has approved the listing of the 23rd company on Nilex (the Nile Exchange, its securities market for listing growing medium and small companies.
Nigerian Stock Exchange launches market-making today
Today the Nigerian Stock Exchange is to launch its market-making programme. This will be a hybrid process, with market makers offering 2-way (buy-sell) price quotes in selected securities and a continuation of the current process in which licensed broker/dealers of the NSE submit orders.
Rwanda savings and credit coops to look at capital markets?
Rwanda’s Savings and Credit Cooperatives (known as SACCOs) are being encouraged to take more interest in investing into the capital market including bonds and equities. They are estimated to hold deposits worth over RWF15 billion (US$24.7 million).
JSE stock exchange unveils new Africa strategy
This morning South Africa’s securities exchange, the JSE Ltd, announced a revised strategy to attract more listings from other African countries, as international interest soars. The JSE is closing its Africa Board and moving the 2 listed companies onto the Main Board or to Alt-X if they are growth companies. The JSE is also stepping up trading in depository receipts (DRs) and offering a broader range of exchange-traded funds and debt instruments.
Tanzanite miner Richland heads for Dar-es-Salaam bourse listing
Tanzanians are to be able to invest in the gems that bear their country’s name, tanzanite. Richland Resources Ltd, listed on the London Stock Exchange’s AIM market says that it plans listing at the Dar es Salaam Stock Exchange by April, according to local press reports.
East African investors opening accounts at Nairobi Stock Exchange
The number of investors from other East African countries opening trading accounts at Kenya’s Nairobi Stock Exchange is still very small, but has grown more consistently in the last 2 years than other categories of investors.
Africa could repeat China’s long growth story– Renaissance CIO
“Africa reminds me of China back in 1999. If you missed China then, don’t do that (miss Africa) now,” is how Plamen Monovski, chief investment officer at Russia’s Renaissance Asset Managers, describes prospects for Africa. “It’s the last place in the world that is due for that rapid change and advancement.”
Aureos Africa Health Fund invests $2.5m in Kenya healthcare
Aureos Africa Health Fund invested $2.5 million in a Kenyan hospital and health insurance company, the Avenue Group, which offers affordable healthcare cover, integrated with quality healthcare provision.
Mobius remains bullish on Nairobi Securities Exchange, says FT
Mark Mobius, veteran emerging markets investor and head of Templeton Emerging Markets, is bullish about the Nairobi Securities Exchange (NSE), although it is the worst-performing stock market in sub-Saharan Africa this year, according to the Financial Times.
Caravan Capital plans $90m into African equities
Caravan Capital Management, an investment fund based in the USA, aims to invest up to $90 million in African equity frontier markets. The fund has invested in 36 countries considered as frontier markets.
Precision Air IPO launches tomorrow in Tanzania
The Initial Public Offering (IPO) of 58,841,750 shares at TSh 475 (US$ 28 cents) each in Tanzania’s Precision Air Services is set to start on 7 October and continue to 28 October, aiming for a listing and trading on the Dar Es Salaam Stock Exchange from 8 December.
SANAD Fund to target SMEs in North Africa and Middle East
Tiny, small and medium businesses in Egypt and Tunisia, later Algeria and Morocco, are set to benefit from a new €30 million ($43.2 mn) SANAD Fund for MSME.
Dar Es Salaam bourse aims for IPO and 2 cross listings, capital controls easing
The Dar Es Salaam Stock Exchange aims to increase to 18 listed companies and is preparing for an initial public offering (IPO) for Precision Air during September and cross-listings of 2 mining firms listed in London. Tanzania is also set to ease controls on the amount of shares foreigners can buy.
JSE sets new trading record – 230,797 trades on 10 August
South Africa’s Johannesburg Stock Exchange says that a record number of trades were executed on the exchange today (10 August). The new record is 230,797 trades, valued at more than $4 billion.
Nigeria’s Securities and Exchange Commission educates, partners Nollywood film
Nigerian regulator, the Securities & Exchange Commission, is travelling the country to build education and awareness. SEC Director General Arunma Oteh, SEC Commissioners and senior officials visited Port Harcourt, capital of Rivers State, for 4 days of meetings with stakeholder groups.