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.
RisCura’s annual Bright Africa report into African securities exchanges is out and highly-recommended. Key challenge to investors, African stock exchange operators and regulators remain: liquidity, free float and cost of trading. Broker commissions are high, but with low trading volumes they need incentives to change.
Monica Singer, former CEO of South African CSD Strate, left at the end of August 2017 after nearly 20 years. She will concentrate full time on blockchain.
Court is the next battleground in a war between securities exchanges in South Africa. New exchange 4AX launched a High Court application to set aside both the decision of the FSB and its Appeals Board to grant a licence to new exchange ZAR X.
A new AMI Big50 Ex-SA ETF offers investors access to an index covering 50 African companies outside South Africa. It is run by Cloud Atlas Investing and listed on the JSE.
South Africa’s second new exchange, which also got a licence according to the 2 September announcement by the Financial Services Board (FSB), is 4AX, also known as 4 Africa Exchange. It plans to trade securities that are currently traded over-the-counter (OTC) and to go live early in 2017.
Ethos Capital listed on South Africa’s JSE on 5 August after R1.8 bn ($131m) oversubscribed private placement creates liquid vehicle for private equity investors.
The Johannesburg Stock Exchange is switching to a shorter T+3 settlement cycle for the equity market from 11 July. Currently it works on T+5.
The JSE-owned derivative central counterparty (CCP) JSE Clear has been recognized by the European Securities and Markets Authority (ESMA).
On 13 Dec the Johannesburg Stock Exchange JSE spelled out how the sacking of South Africa finance minister Nhlanhla Nene and market reactions to political moves had affected people’s savings, jobs and hopes in the previous 4 days.
Opening remarks of Oscar Onyema, CEO of Nigerian Stock Exchange and President of African Securities Exchanges Association’s at the 2015 conference, hosted by Johannesburg Stock Exchange (JSE).