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 […]

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.

Tunis Stock Exchange IPO is largest listing

The listing of Société d’Articles Hygiéniques (SAH), on the Tunis Stock Exchange on 9 Jan after a private placement and an oversubscribed initial public offer (IPO) is the largest listing on the Tunis bourse, valuing the company at $163.5 million.

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.

Tunisia Stock Exchange positive on economic prospects

Share prices on the Tunisian Stock Exchange have been moving ahead all November, starting with a positive reaction to the meeting between Rachid Ghannouchi, leader of the Islamist Ennahda party and stock market executives only days after the election and moving forward as the politics progressed well.

Silk Invest says Egypt elections will be turning point

Mark Voss of fund manager Silk Invest foresees a turning point for the Egyptian market in a recent note. He also notes growth in Tunisia, with companies back to pre-revolution levels, tourism boom in Morocco, giant growth in Ghana and telecom payments innovation in Kenya.

Tunis Stock Exchange seeks to support growth

The Bourse des Valeurs Mobilières de Tunis (BVMT – Tunis Stock Exchange), aims to support role in faster economic growth and has a 5-point development strategy. A share offer in May was 3.2 times oversubscribed.

Listing of Tunisie Telecom cancelled

Tunisie Telecom has cancelled plans for a joint initial public offering on the Paris and Tunis stock exchanges after consultations with trade unions following several changes of Government in recent weeks and the resignation of the former president.

NYSE Euronext backs growth in African stock exchanges

NYSE Euronext Inc. has seen a threefold increase in the trading of African stocks on its exchanges over the past 5 years and twice as many exchange-traded funds (ETFs) focused on Africa in the past 12 to 18 months.

Rencap has expansion plans

Renaissance Capital (www.rencap.com/eng), the Russian emerging-markets bank with operations in Africa, plans to expand next year into Egypt and at least 3 other African countries, according to a 5 October interview published on Bloomberg.

Car dealer offers shares before double listing in Tunis and Casablanca

Tunisian car retailer Ennakl Automobiles, official distributor of Volkswagen, Seat, Audi and Porsche and part of the Group Princesse El Materi Holding, headed by Mohamed Sakher El Materi Holding, is offering 40% of its share capital for sale. This is preparation to a double listing of 30% of its capital on the Tunis stock exchange and 10% on the Casablanca stock exchange in Morocco. The offer is open from 23 June – 2 July.

Two new listings for Tunis Stock Exchange

Two new listings are heading to the Tunisian Stock Exchange (www.bvmt.com.tn) according to Tunisian online news sources www.tustex.com and Tunisia Online News (www.tunisiaonlinenews.com). Prominent regional reinsurance company Tunis Re (www.tunisre.com.tn) is preparing an initial public offering of its shares in the first quarter of 2010. In order to prepare, Tunis Re held a first extraordinary […]