Market integration across 3 East African securities exchanges is moving fast with a target of being live and online by 31 December 2020. According to a news report, Uganda Securities Exchange, Dar es Salaam Stock Exchange and Rwanda Stock Exchange are set to start trading as a single market after connecting their trading systems to […]
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.
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.
Vodacom Tanzania’s extended $213 million IPO closed 28 July and results are to be announced 7 August, with the listing on the Dar es Salaam Stock Exchange due 15 August.
Some 40,000 Tanzanians subscribed for the TZS476 billion ($213 million) initial public offer (IPO) of Vodacom Tanzania Ltd.
Here is my article on a critical area for Africa to develop, creating the atmosphere for productive investments by fast-growing pension funds. Published in African Banker magazine.
Trading has been fast and furious in the shares of Dar es Salaam Stock Exchange PLC, which self-listed at 9am on 12 July. The first day of trading saw the shares open at TZS 500 each and soaring as high as TZS 1,000 and trading again scorched today (13 July).
Total bids for the initial public offer (IPO) of shares in the Dar es Salaam Stock Exchange PLC was TZS35.8bn ($16.4m). This is 4.8 times the offered amount of TZS7.5bn ($3.4m) in the IPO which closed on 3 June. The DSE will self list on 12 July.
The Dar es Salaam Stock Exchange Plc will launch its initial public offer soon, after completing the demutualization. The Capital Markets and Securities Authority, said the bourse can raise TZS 7.5 billion ($3.4 million) by issuing 15 million ordinary shares at TZS 500 each.
The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.
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 Dar es Salaam Stock Exchange (DSE) aims for an IPO in 6 months followed by listing and calls for lead transaction advisor, stockbroker and other experts by 21 July
Tanzania’s Dar es Salaam Stock Exchange topped the performance list for the 12 months to 31 Jan in USD, managing a 27% climb and beating the S&P 500 index which rose 11.9%.
Securities exchanges in East Africa are working together on infrastructure for tighter cooperation and links between Rwanda, Kenya, Uganda and Tanzania and potentially Burundi through the East African Securities Exchanges Association (EASEA).
China is to build a huge new port and special economic zone in Tanzania worth at least $10 billion. Construction is due to start on 1 July 2015 as the country bids to rival Kenya’s Mombasa as transport hub for East Africa.
The battle for stock exchange technology in Africa heats as Dar es Salaam Stock Exchange switches its trading, clearing and settlement to South Africa’s Securities and Trading Technology (STT).
An intriguing article just published by The Africa Report highlights the potential of the East African region, where the economy is forecast to grow 18-fold to $3.5 trn by 2050, and the growing links, self-determination, infrastructure and risks.
Tanzania is planning to issue a first Eurobond of up to $1 billion, but the issue could be delayed until after June, according to Reuters.
The CEO of Tanzania’s Dar es Salaam Stock Exchange opened trading on the London Stock Exchange on 27 Jan alongside UK Secretary of State for International Development, the Rt Hon. Justine Greening MP. LSE Group signed a MoU with the Department for International Development to work on capital markets development across sub-Saharan Africa.
The Dar es Salaam Stock Exchange made operational improvements in 2013 including doubling trading hours, reducing settlement times on equities and bonds and introducing a wide-area network (WAN). Turnover soared five-fold to $156 million compared to 2012.