New laws pave route to Angolan securities exchange
Laws have been approved in Angola to regulate the future securities exchange for equity and debt. The Capital Markets Commission (CMC) says that it plans to open a secondary debt market next year and this will pave the way for a securities exchange in 2016.
New York Institute of Finance launches Nigerian links
Nigerian stockbrokers are to build their expertise under a working relationship between the New York Institute of Finance (NYIF) and the Chartered Institute of Stockbrokers (CIS) on building capacity.
JSE gives South African firms competitive advantage through corporate bonds
“South Africa’s established and efficient debt capital market is a key competitive advantage for South African firms” writes Barry Martin, joint head of debt capital markets at Rand Merchant Bank. Corporate debt issued in the first quarter of 2013 was R6.1 billion ($612 million).
Egypt’s Nilex exchange for SMEs adds 23rd listing
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 steps up corporate governance
Kenya is stepping up corporate governance and the Capital Markets Authority has appointed a 9-member Capital Markets Corporate Governance Committee.
Live from Cairo, launch of African Stock Exchanges Association conference
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.
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.
Nigerian Stock Exchange launches market-making today
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 markets talking integration – will they walk the talk?
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.
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.
Rwanda savings and credit coops to look at 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).
Hana Mining could speed trans-Kalahari railway
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.
Nigerian Stock Exchange to roll out top-speed NASDAQ OMX trading platform
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.
JSE stock exchange unveils new Africa strategy
This morning South Africa’s securities exchange, the JSE Ltd, announced a revised strategy to attract more listings from other African countries, as international interest soars. The JSE is closing its Africa Board and moving the 2 listed companies onto the Main Board or to Alt-X if they are growth companies. The JSE is also stepping up trading in depository receipts (DRs) and offering a broader range of exchange-traded funds and debt instruments.
First global company lists on Stock Exchange of Mauritius
The first offshore company was approved to be listed for trading on the Stock Exchange of Mauritius. Evisa Investments Ltd, which has invested in Kenyan insurance, has a Global Business Licence Category 1, approved by the Mauritius Financial Services Commission.
Strategy – NYSE Euronext and Deutsche Borse turn to technology and new targets
Mega-mergers and competition continues among the world’s biggest exchanges, despite the move by European regulators to ban Deutsche Börse (DB) and NYSE Euronext (NYX) from forming the world’s biggest exchange. Both are stepping up activities in selling exchange technology and looking at other new directions.
Tanzanite miner Richland heads for Dar-es-Salaam bourse listing
Tanzanians are to be able to invest in the gems that bear their country’s name, tanzanite. Richland Resources Ltd, listed on the London Stock Exchange’s AIM market says that it plans listing at the Dar es Salaam Stock Exchange by April, according to local press reports.
East African investors opening accounts at Nairobi Stock Exchange
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.
Zimbabwe Securities Commission refuses licence for ZSE bourse
The Securities Commission of Zimbabwe (www.seczim.co.zw) has declined to grant the Zimbabwe Stock Exchange (www.zse.co.zw – under maintenance), an operating licence, according to local media, and is challenging the exchange to provide a business plan.
Africa could repeat China’s long growth story– Renaissance CIO
“Africa reminds me of China back in 1999. If you missed China then, don’t do that (miss Africa) now,” is how Plamen Monovski, chief investment officer at Russia’s Renaissance Asset Managers, describes prospects for Africa. “It’s the last place in the world that is due for that rapid change and advancement.”