Africa’s $372bn pension fund assets – do they facilitate inclusive growth and social stability? Is the money well invested, including capital markets and equities, private equity and infrastructure development? Bright Africa report by RisCura.
South Africa’s second new exchange, which also got a licence according to the 2 September announcement by the Financial Services Board (FSB), is 4AX, also known as 4 Africa Exchange. It plans to trade securities that are currently traded over-the-counter (OTC) and to go live early in 2017.
The Johannesburg Stock Exchange is switching to a shorter T+3 settlement cycle for the equity market from 11 July. Currently it works on T+5.
The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.
Botswana’s rise as world diamond centre – Stanchart “money laundering” woes slow P1.8bn OPIC financing
De Beers’ Diamond Trading Corporation has moved from London to Botswana and some 32m carats of diamonds (worth US$6 billion – about 40% of world diamond sales) will be aggregated and sold in Botswana. OPIC financing of P1.8bn is being held up by relations with Stanchart.
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.
South Africa’s Government has released the Financial Markets Bill for public comment, with comments due by 5 September. The new law would replace the Securities Services Act.
I have the honour to be published on the opinions section of the Royal African Society website and the article can be seen along with their excellent blogs I also reprint the article, which is meant to spark debate, and I welcome your comments – is it time for change and what is the way forward?
South Africa’s largest private equity company is transforming itself into a long-term investment holding company and aims to raise ZAR 6 billion ($857.7 million), according to a report on Bloomberg. Brait SA, listed on the JSE Ltd, will use the funds to purchase a long-term stake of 24.6% of Pepkor Ltd, South Africa’s biggest clothes retailer, and 49.9% of Premier Foods.