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.
Governance, good regulation and availability of market data and prices help African fund managers decide on investing into other African markets, according to a survey of 50 African asset-managers for the African Exchanges Linkage Project (AELP) project. Key factors when they choose new markets are: market regulation (91% of replies), followed by investor regulation and […]
The value of trading on the Zimbabwe Stock Exchange fell 22% in the first quarter of 2015 (compared to 2014), the bourse has been hit by controversies and several delistings.
The new President of the African Securities Exchanges Association (ASEA) put forward 4 strategic objectives for the member bourses. Oscar Onyema, CEO of the Nigerian Stock Exchange, was elected President at this week’s ASEA conference in Kenya.
The business environment is rising higher on the agenda of African governments and more progress is being made, but there are still major issues. Doing Business 2193 report by the IFC and the World Bank and the Mo Ibrahim Index on African Governance, both published in October, highlight which economies and governments are improving fastest.
Lots of useful commentary is published this week about what’s going wrong with the world’s leading capital markets and finance and it has lots of useful insights for those involved in developing Africa’s capital markets. The latest bout of soul-searching follows the publication of Prof John Kay’s “The Kay Review of UK Equity Markets and Long-Term Decision Making” on 23 July.
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).
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.
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.
Sierra Leone could be the fastest-growing economy in the world in 2012, according to a story on Bloomberg’s Businessweek, which says Finance Minister Samura Kamara forecasts growth at 50%, because of new iron ore mines coming on stream, and 10% in 2013 and in 2014.
Reuters newsagency has put together stories on issuers’ and investors’ difficulties with African stock markets. These include lack of liquidity and sinking currencies. It notes that African companies are increasingly dual listing on international stock exchanges.