The Namibian government issued a debut US$500 million, 10-year Eurobond on 27 October and got a price of 5.75%, taking advantage of a lull in the capital markets turmoil.
The main trading platform of the London Stock Exchange was successfully switched from the previous system yesterday (14 Feb) to the Millennium Exchange computer system. Africa’s biggest exchange, the JSE Ltd announced on 3 Feb that it had concluded a licensing agreement with MillenniumIT to move its equity market trading activity onto Millennium Exchange, planned for the first half of 2012. Millennium IT’s systems are widely installed in African stock exchanges.
The London Stock Exchange trading outage on 2 November and the subsequent delay of its migration of the LSE’s main trading to MllenniumIT’s platform is likely to be topic at African Stock Exchanges Association.
Australia’s Minemakers Limited on 27 July became the 63rd company to list on the Namibian Stock Exchange when it joined the Development Capital Board (DevX). Minemakers has interests in phosphate mining – for which it says Namibia has the world’s sixth biggest resource – used in making fertilizers.
Interest in African sovereign debt has been climbing again in recent months. Angola plans to issue a $1 billion – $2 billion benchmark bond., Kenya, Nigeria and Mauritius and many other countries have flourishing debt markets and international interest is good in high-yielding hard-currency bonds such as those issued by the Republic of Congo and Cote d’Ivoire.
Imara Holdings Ltd, an investment banking and asset management group with operations in 10 countries mostly in southern Africa, aims to expand in Zimbabwe, according to Zimbabwe’s Herald newspaper.
Absa Capital, the investment banking arm of Absa Group, plans to work in a range of African debt markets, particularly in countries where Barclays Bank is active. New bonds are being issued in Namibia, Kenya and Uganda.
The listing bell rang at the Namibian Stock Exchange (www.nsx.com.na) on 4 August for the listing of West Australian Metals Limited (“WAM”) on the NSX’s Development Capital Board (DevX). It is the sixth uranium producer to be listed on the NSX and is also listed on the Australian Securities Exchange (www.asx.com.au, where it is listed […]