Africa issuers raised $341m in 6 months, down 28%

Enterprises based in Africa raised $341 million through equity issues in the first half of 2019, down 28% on the $472m raised in the first half of 2018. Law firm Baker McKenzie has published its Cross-Border IPO Index for H1 2019, using data sourced from Refinitiv, and says this was mainly because only $85m was […]

Africa’s eurobond outlook 2019

A good overview of Africa’s  $92bn eurobond market, with a summary of 2018 and 5 key themes for 2019, written by Gregory Smith, Director and Fixed Income Strategist for Emerging Markets at Renaissance Capital, is available on LinkedIn. Overall there are 20 African eurobond issuers with the largest issuers South Africa, Egypt and Nigeria, also […]

How big are African pension funds?

Traditional assets under management in 12 African countries were $634bn in 2014, set to reach $1.1trn in 2020 (PwC). South Africa’s $124bn GEPF is the biggest but many other fast-growing African funds are also investing in infrastructure and private equity.

Egypt is Africa’s new #1 investment destination

Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.

Namibian SX and Bank of Namibia poised to launch paperless

The Namibian Stock Exchange and the central Bank of Namibia are working together to create a central securities depository (CSD) for equities, bonds and bills traded. They are waiting for laws and regulations to be passed to get the new system operational.

IFC raises N$180m bond in Namibia

The International Finance Corporation continues its programme of helping develop African debt markets by launching the first bond by a non-resident issuer in Namibia. It raised NAD 180 million (about $12m) which it will use for private sector development.

NAMFISA becomes IOSCO associate member

The Namibia Financial Institutions Supervisory Authority (NAMFISA) has been accepted as an associate member of the International Organization of Securities Commissions (IOSCO).

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.

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.

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.

Rise of pension giants set to transform investment in Africa

New giants are arising in African investments – the domestic pension funds. Several countries have funds worth billions of US dollars and in many they are growing at 25% a year or more. Handled well, they could transform local equity markets, exits for private equity and infrastructure investment.

Namibian SX has new CEO

A new CEO will start at the Namibian Stock Exchange on 1 January 2013. Sebby Kankondi, Chairman of the NSX, has announced that the Board of the NSX has appointed Tiaan Bazuin. He replaces John Mandy, who has already reached retirement age.

More appetite for African bonds in 2012

2012 could be an active year for African bonds and particularly eurobonds, judging by the 5.5 times oversubscription for the Namibia’s debut $500 million, 10-year Eurobond. However, timing and terms of issues will be crucial in the turbulent markets.