News and developments on African capital markets: African securities, African stock exchanges, African equities, African bonds, African private equity/venture capital, and African social impact investment. Twitter @africancapital, LinkedIn African Securities Exchanges group.
A public-private partnership consortium, including the Government of Ghana (as minority), local and international investors, aim to finalize fund-raising for a new Ghana Commodity Exchange (GCX) during April and to build the exchange within 12 months.
The Nigerian Government plans to privatize the Abuja Securities and Commodities Exchange by mid-2014, according to Arunma Oteh, Director General of Nigeria’s Securities and Exchange Commission.
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.
Voxtra East Africa Agribusiness Fund, a Norwegian social investor, has completed its inaugural investment of US$1.5 million in Mtanga Farms Limited in Tanzania, which grows seeds, crops and livestock.
South Africa’s JSE Ltd traded 2.1 million commodity derivative contracts in 2010, up 12% on the previous year but still below the record 2.5 mn contracts traded in 2008. White maize accounted for 46% of all grains traded on the JSE, wheat accounted for 27% and yellow maize 16%.
The new Commodities Exchange of Zimbabwe (COMEZ) opened on 14 January, but no date is set to start trading. The exchange would be managed by the State, banks and farmers’ unions, shares would be offered to private investors. It will end the monopoly of the State-owned Grain Marketing Board and support continuing agricultural recovery.