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 […]
Roundup of African share offers (IPOs) for investors, including CIPLA-QCI closing 24 Aug in Uganda, Giza Spinning and Weaving in Egypt and telco MTN listings in Uganda, Ghana and Nigeria.
Capital Markets Authority (CMA) Uganda has been admitted by International Organisation of Securities Commissions (IOSCO) as signatory to Appendix A of Multilateral Memorandum of Understanding (MMoU).
Paul Bwiso has big plans as new CEO of the Uganda Securities Exchange. Challenges include a rival exchange, more listings, automation and demutualization.
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).
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.
The Nigerian Government plans to privatize the Abuja Securities and Commodities Exchange by mid-2014, according to Arunma Oteh, Director General of Nigeria’s Securities and Exchange Commission.
Malawi came out as Africa’s top-performing exchange to USD-based investors over 2013 with a strong 62.4% return. Eight out of 13 African exchanges beat the S&P 500.
Rift Valley Railways (RVR), a platform company of Egypt’s Citadel Capital, has repaired 500 kilometers of track between Tororo in Eastern Uganda and Gulu in the North, opening north and northwest Uganda South Sudan and eastern Democratic Republic of Congo to rail services after 20 years of disuse and inefficiency.
Entrepreneurs running small and medium-enterprises (SMEs) in West and East Africa stand to benefit from a new $75m private equity fund. The announcement follows the news on 29 Jan that two long-term private equity partners – Jacana and InReturn Capital – are merging.
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.
The Initial Public Offer by power company Umeme closed on 7 November and results are expected before the listing on 30 November. Before the close, commentators said there was a turnup of applications and that the International Finance Corporation had invested, but parliamentarians called for an inquiry.
Uganda’s only power distributor, Umeme, said it plans to raise capital to invest in Uganda’s electricity sector through an initial public offering (IPO) on the Ugandan and Nairobi securities exchanges later in 2012
Xavier Rolet, Chief Executive of the London Stock Exchange, will be celebrating the rise and rise of African fixed interest on Monday 2 July, when he opens the 2nd Africa Debt Capital Markets Summit at the LSE.
The number of investors from other East African countries opening trading accounts at Kenya’s Nairobi Stock Exchange is still very small, but has grown more consistently in the last 2 years than other categories of investors.
Kenyan financial services firm British-American Investments Company Ltd. said on 23 August that its initial public offering (IPO) had only attracted 60.09% of the targeted KSh5.85 billion ($63million).
The International Finance Corporation and 6 leading international finance institutions provided $164 million in financing to Rift Valley Railways International to rehabilitate the Kenya-Uganda railway today (2 August).
British American Investment Company (Kenya) Ltd launched its initial public offer (IPO) this week. It aims to raise KES 5.58 billion (US$62.2 million) for expansion. The offer is open until 5 August, and it to list its shares on the Nairobi Stock Exchange.
Indian steel-to-outsourcing conglomerate Essar has cancelled deals to buy telecoms operators in Uganda and Congo and is to sell its Kenyan operations, under the Yu brand.