News and developments on African capital markets, includes: African securities, African stock exchanges/stock markets, African equities, African bonds, African private equity/venture capital, and African social impact investment
The Egyptian Exchange (EGX) has approved the listing of the 23rd company on Nilex (the Nile Exchange, its securities market for listing growing medium and small companies.
Kenya is stepping up corporate governance and the Capital Markets Authority has appointed a 9-member Capital Markets Corporate Governance Committee.
Launch today (3 Dec) of the 16th annual conference of the African Stock Exchanges Association, hosted by The Egyptian Exchange (EGX). This is the great annual gathering of Africa’s stock exchange leaders, visionaries, regulators, IT specialists, investors and many others.
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.
Today the Nigerian Stock Exchange is to launch its market-making programme. This will be a hybrid process, with market makers offering 2-way (buy-sell) price quotes in selected securities and a continuation of the current process in which licensed broker/dealers of the NSE submit orders.
West African stock exchange leaders are again talking about integrating the markets. The exchanges in Ghana, Nigeria, Sierra Leone and Cote d’Ivoire have said they will seek to integrate by 2014.
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.
Rwanda’s Savings and Credit Cooperatives (known as SACCOs) are being encouraged to take more interest in investing into the capital market including bonds and equities. They are estimated to hold deposits worth over RWF15 billion (US$24.7 million).
The dual-listing of Hana Mining Ltd. last week on the Foreign Venture Capital Board of the Botswana Stock Exchange could bring a giant new cross-Africa railway closer.
The Nigerian Stock Exchange says it will have the fastest trading system in Africa when it upgrades its trading to NASDAQ OMX Group’s X-Stream platform, with a target date of second quarter of 2013. The new system will handle a wide range of instruments.