Dot Com Zambia IPO closed early after 114x oversubscription
FROM THE LUSAKA SECURITIES EXCHANGE MARKET UPDATE: DOT COM ZAMBIA PLC IPO SUCCESSFULLY SUBSCRIBED The Lusaka Securities Exchange (LuSE) wishes to advise the market that the Offer Period for the Dot Com Initial Public Offering (IPO) successfully concluded on Friday, 5th December 2025, closing one week ahead of schedule as the offer was oversubscribed by […]
Clear progress for Africa’s financial markets
Jeff Gable, Chief Economist, and Anthony Kirui, Head of Global Markets Ex.SA, at Absa CIB explain why recent strong progress in Africa’s financial market development is likely to lead to improved access to financing in future. The global economy has faced an uphill battle since 2020, dealing with persistent shocks from geopolitical tensions, the lingering […]
Zambia Forest lists on Lusaka Securities Exchange
Zambia Forestry and Forest Industries Corporation PLC today (12 February) brought welcome relief to the Lusaka Securities Exchange when it broke a 6-year listing drought. The listing was for the full 400 million shares, after an offer of 160m shares (40%) at ZMW2.06 each to raise ZMW330m ($22.5m). The forestry firm will use the proceeds […]
IMF cuts African growth forecast
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.
JSE launches futures trading for 3 African currencies
South Africa’s JSE launches 3 new currency future instruments which are the first to track exchange rate between the rand (ZAR) and Nigeria’s Naira (NGN), Kenya Shilling (KES) and Zambia Kwacha (ZMW).
More weather index insurance for African smallholder farmers
IFC signed 2 grant agreements with MicroEnsure Ltd for index-based weather insurance to help small-scale farmers in Rwanda and Zambia manage drought and too much rain.
Top performances for USD investors at Africa’s stock exchanges
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.
Sub-Saharan African sovereigns outside SA to raise $7bn in fixed income
African countries (apart from South Africa) are set to place $7 billion of debt this year, buoyed by low interest rates and a huge global appetite. It is more than the previous 5 years combined and African capital markets are feeling the boom.
Africa’s best real estate developer is private equity group Actis
Leading African private equity group Actis has won the title for “Best Developer in Africa” in the 8th annual global Euromoney Real Estate Survey run by finance magazine Euromoney
Zambia’s debut $750m Eurobond puts focus on Africa
Zambia went to the global market yesterday (13 September) with its first eurobond, a USD750 million 10-year bond priced at a 5.625%. It will be used to fund its budget and invest in infrastructure and the issue highlights “great appetite” for African credit.
SADC stock exchanges work together towards links, shared skills and better visibility
The ten stock exchanges of the Southern African Development Community (SADC) are working together to increase the effectiveness of their markets. The Committee of SADC Stock Exchanges (CoSSE) has agreed to concentrate on six priority areas in support of regional moves to more efficient capital markets.
BaDEx getting ready to launch as Zambia’s second securities exchange
A new securities exchange in Lusaka, BaDEx (Bonds and Derivatives Exchange Zambia) is installing tried-and-tested bond and derivative trading software from South Africa’s STT Software, which supplies the JSE, and says it will be ready to launch operations next month, May 2012. BaDEx trading platforms will include spot and derivative trading in bonds, currency, commodities (such as derivatives on metals and silo certificates on the spot market) and a variety of other derivatives including agricultural commodities, precious metals, equity and energy.
More appetite for African bonds in 2012
2012 could be an active year for African bonds and particularly eurobonds, judging by the 5.5 times oversubscription for the Namibia’s debut $500 million, 10-year Eurobond. However, timing and terms of issues will be crucial in the turbulent markets.
Fitch gives Zambia B+, clears path for Eurobond
Fitch Ratings agency has given Zambia a “B+” rating on long-term foreign and local currency, with a stable outlook, which could pave the way for a $500 million Eurobond, according to Standard Bank, but the country has plenty of local deposits seeking homes as local interest rates are attractive and the currency that looks strong.
Nigeria and Zambia joining African rush into bonds
Africa needs to spend $93 billion a year on power, transport and water projects over the next decade to lift growth in the world’s poorest continent. Bloomberg news agency reports that Nigeria appointed Barclays Capital in October as an adviser for a planned $500 million Eurobond to support government spending. Zambia plans to raise $1 billion on the back of a planned sovereign credit rating this year
African Stock Exchanges Association 2010 conference in Zambia (11-12 November)
Zambia’s Lusaka Stock Exchange will host the 14th African Stock Exchange Association (ASEA) conference from 10 -12 November. The theme this year is “Integration of African Capital Markets through Technology” which occupies a few sessions.
Investors back $ billions of African bonds
Interest in African sovereign debt has been climbing again in recent months. Angola plans to issue a $1 billion – $2 billion benchmark bond., Kenya, Nigeria and Mauritius and many other countries have flourishing debt markets and international interest is good in high-yielding hard-currency bonds such as those issued by the Republic of Congo and Cote d’Ivoire.