Africa’s securities exchanges and their part in Africa’s future
The challenges facing Africa’s securities exchanges to become an integral part of the continent’s economic transformation also provide a good agenda for action in 2014.
New securities exchange prepares in Namibia
Former Namibian Minister of Finance Helmut Angula is heading plans to establish a second securities exchange, the Namibia Financial Exchange (NamFin-X), which received its licence to operate in September 2012.
South Africa’s JSE again beats the world on regulation – how they do it
South Africa’s Johannesburg Stock Exchange (www.jse.co.za) is the world’s best-regulated stock exchange for the fourth year running. The 2013-14 Global Competitiveness Report by the World Economic Forum (WEF) ranks South Africa first out of 148 countries for regulation of securities exchanges. South Africa’s financial market development ranking remains impressive at third in the world. This […]
New York Institute of Finance launches Nigerian links
Nigerian stockbrokers are to build their expertise under a working relationship between the New York Institute of Finance (NYIF) and the Chartered Institute of Stockbrokers (CIS) on building capacity.
New CEO announced for Dar es Salaam Stock Exchange
Tanzanian news media yesterday (1 May) announced that 37-year old Moremi Marwa has been appointed as the new CEO of the Dar es Salaam Stock Exchange. He is the first stockbroker to manage the securities exchange.
Zimbabwe Stock Exchange launches great investor relations (IR) drive
Congratulations to the Zimbabwe Stock Exchange on its excellent new website, including a very useful listed companies’ data terminal, including annual reports, charting, trading and other data. Good work by the ZSE team and Rob Stangroom at African Investor Relations.
Egyptian Exchange holds workshops with mutual funds to boost liquidity
The Egyptian Exchange (EGX) is busy with workshops for mutual funds and investment banks, aiming to boost trading volumes through better communications between market participants and listed companies.
Regulators discuss East African bookbuilding and stockbroker licences
The regional forum, the East African Securities Regulatory Authorities (EASRA), is seeking to create a harmonized licensing framework for the region for brokers and dealers, and has also approved draft regulations on book-building for adoption by its members. The draft book-building regulations are to be shared with stakeholders in the member States and their views […]
Africa’s bourses should work together to channel investors
Africa’s 24 stock markets should learn to work together better if they are to seize high levels of investor interest, said Nicky Newton-King, CEO of South Africa’s JSE Ltd. She told an interviewer that plumbing, – technology and other links between exchanges and clearing and settlement – were more likely routes to more liquidity than trying to create a single exchange.
Egypt aims for 800,000 jobs
The short-term challenge for the Egyptian Government is to mobilize domestic and foreign investment to create 800,000 jobs. This was the energizing call from Hesham Kandil, the Prime Minister of Egypt, opening the 16th African Stock Exchanges Association conference in Cairo 2012 #ASEA2012 today (3 Dec).
Live from Cairo, launch of African Stock Exchanges Association conference
Launch today (3 Dec) of the 16th annual conference of the African Stock Exchanges Association, hosted by The Egyptian Exchange (EGX). This is the great annual gathering of Africa’s stock exchange leaders, visionaries, regulators, IT specialists, investors and many others.
IOSCO global regulator gives bigger role to emerging markets – 80% of its membership
The 86 emerging markets members of the world’s securities markets regulator, International Organization of Securities Commissions form 80% of IOSCO membership and are increasingly important in the global economy. They back setting up IOSCO Foundation, to boost funding so IOSCO can scale up research, education and training and technical assistance.
African SE Association announces 2012 conference will be 2-4 Dec in Cairo
The Egyptian Exchange (EGX) has announced the 16th annual general meeting and flagship conference of the African Securities Exchanges Association (ASEA). This is the top conference for Africa’s capital markets. It will be Cairo on 2-4 December 2012.
Impact Exchange (iX) gets closer to launch on Stock Exchange of Mauritius
A partnership between the innovative Stock Exchange of Mauritius and social enterprise NeXii is making great progress towards setting up the Impact Exchange (iX) board on a globally recognized stock exchange. Six companies have gone through the listing process and the iX board expects to start trading in the third quarter of 2013.
Botswana Stock Exchange launches automated trading
Months of hard work came to a climax when the Botswana Stock Exchange successfully launched its automated trading system (ATS) and now has live trading. This replaces the open outcry trading system and the aim is to make the BSE more visible and trading more efficient.
Are capital markets taking a wrong turn? Soul-searching on short-termism after UK’s Kay Review
Lots of useful commentary is published this week about what’s going wrong with the world’s leading capital markets and finance and it has lots of useful insights for those involved in developing Africa’s capital markets. The latest bout of soul-searching follows the publication of Prof John Kay’s “The Kay Review of UK Equity Markets and Long-Term Decision Making” on 23 July.
SADC stock exchanges work together towards links, shared skills and better visibility
The ten stock exchanges of the Southern African Development Community (SADC) are working together to increase the effectiveness of their markets. The Committee of SADC Stock Exchanges (CoSSE) has agreed to concentrate on six priority areas in support of regional moves to more efficient capital markets.
BaDEx getting ready to launch as Zambia’s second securities exchange
A new securities exchange in Lusaka, BaDEx (Bonds and Derivatives Exchange Zambia) is installing tried-and-tested bond and derivative trading software from South Africa’s STT Software, which supplies the JSE, and says it will be ready to launch operations next month, May 2012. BaDEx trading platforms will include spot and derivative trading in bonds, currency, commodities (such as derivatives on metals and silo certificates on the spot market) and a variety of other derivatives including agricultural commodities, precious metals, equity and energy.
CoSSE (Committee of SADC Stock Exchanges) launch new website for data and news
The Committee of SADC Stock Exchanges (CoSSE) has launched a website as part of a drive to create more liquidity in the southern African stock exchanges through better data and visibility for the exchanges. The new website (www.cossesadc.org) was launched on 19 April.
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.