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
Africa’s top lending institution the African Development Bank (AfDB) has announced that it will start moving its headquarters and 1,500 employees from Tunisia to Ivory Coast, with first staff to move this year.
The African Development Bank has signed a USD 100 million agreement with Germany-based Commerzbank AG in which the banks will share the default risk on a portfolio of eligible trade transactions originated by African issuing banks and confirmed by Commerzbank.
“Unity has no meaning unless it is the ability of the coal miner in Botswana to power a plant in Angola or the farmer in Uganda to export food to those short of food in northern Kenya” says fashion giant Ozwald Boatang on the 50th anniversary of the African Union.
The International Finance Corporation, a member of the World Bank Group, and the African Development Bank are to work together to facilitate local currency lending and bond issuance in Africa. They signed an ISDA Master Agreement for this.
The best in African banking was celebrated recently at the 6th edition of the African Banker Awards, under the patronage of the African Development Bank and African Banker magazine, in Arusha, Tanzania.
The African Development Bank has approved an equity investment of US$100 million to Agvance Africa, which the bank claims is the first fund of funds focused on African agribusiness.
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.
Aureos Africa Health Fund invested $2.5 million in a Kenyan hospital and health insurance company, the Avenue Group, which offers affordable healthcare cover, integrated with quality healthcare provision.
The African Development Bank is playing its role in Africa with skill and is getting more backing from its principal shareholders because of its successes as an African institution. Moving back to Cote d’Ivoire is also on the agenda.
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.