Africa’s growth is slowing dramatically, says the International Monetary Fund, and is likely to be 3.75% this year and 4.25% next year. It could get worse if the global economy does not grow.
The Sovereign Wealth Fund Institute of Las Vegas, USA defines SWF as “a state-owned investment fund or entity that is commonly established from balance of payments surpluses, official foreign currency operations, the proceeds of privatizations, governmental transfer payments, fiscal surpluses, and/or receipts resulting from resource exports”.
Tullow Oil plc is to start trading on the Ghana Stock Exchange on 27 July after allocating 3,531,546 ordinary shares of 10p each in a successful offer. The company says this is the largest primary share offer completed on the GSE and will more than double the market capitalisation.
South Africa’s JSE Ltd traded 2.1 million commodity derivative contracts in 2010, up 12% on the previous year but still below the record 2.5 mn contracts traded in 2008. White maize accounted for 46% of all grains traded on the JSE, wheat accounted for 27% and yellow maize 16%.