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.
The International Organization of Securities Commissions (IOSCO) published on 4 March a report on liquidity risk management for collective investment schemes (CIS)
Kenya has licensed its first ethical fund, an Islamic fund issued by FCB Capital, a sharia-compliant investment bank, and aims to become the centre of Islamic finance in East Africa, calling for the set-up of a council to advise on Islamic finance products.
The UK’s regulator, the Financial Services Authority (FSA), has issued a warning about unregulated “sustainable, ethical and alternative” investments. It says: “We are seeing an increasing number of overseas schemes that offer investment opportunities in tree and crop plots abroad, and other ethical investments.”
The dynamic Stock Exchange of Mauritius is pushing ahead with building itself as a secure base for international funding transactions and an African alternative to international listing venues. It is moving to becoming a multi-product exchange aimed at the international market.