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
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.
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.
“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.”
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.
Mark Mobius, veteran emerging markets investor and head of Templeton Emerging Markets, is bullish about the Nairobi Securities Exchange (NSE), although it is the worst-performing stock market in sub-Saharan Africa this year, according to the Financial Times.
Caravan Capital Management, an investment fund based in the USA, aims to invest up to $90 million in African equity frontier markets. The fund has invested in 36 countries considered as frontier markets.
The Initial Public Offering (IPO) of 58,841,750 shares at TSh 475 (US$ 28 cents) each in Tanzania’s Precision Air Services is set to start on 7 October and continue to 28 October, aiming for a listing and trading on the Dar Es Salaam Stock Exchange from 8 December.
Tiny, small and medium businesses in Egypt and Tunisia, later Algeria and Morocco, are set to benefit from a new €30 million ($43.2 mn) SANAD Fund for MSME.
The Dar Es Salaam Stock Exchange aims to increase to 18 listed companies and is preparing for an initial public offering (IPO) for Precision Air during September and cross-listings of 2 mining firms listed in London. Tanzania is also set to ease controls on the amount of shares foreigners can buy.
South Africa’s Johannesburg Stock Exchange says that a record number of trades were executed on the exchange today (10 August). The new record is 230,797 trades, valued at more than $4 billion.