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.
Enterprises based in Africa raised $341 million through equity issues in the first half of 2019, down 28% on the $472m raised in the first half of 2018. Law firm Baker McKenzie has published its Cross-Border IPO Index for H1 2019, using data sourced from Refinitiv, and says this was mainly because only $85m was […]
A good overview of Africa’s $92bn eurobond market, with a summary of 2018 and 5 key themes for 2019, written by Gregory Smith, Director and Fixed Income Strategist for Emerging Markets at Renaissance Capital, is available on LinkedIn. Overall there are 20 African eurobond issuers with the largest issuers South Africa, Egypt and Nigeria, also […]
Africa’s $372bn pension fund assets – do they facilitate inclusive growth and social stability? Is the money well invested, including capital markets and equities, private equity and infrastructure development? Bright Africa report by RisCura.
Traditional assets under management in 12 African countries were $634bn in 2014, set to reach $1.1trn in 2020 (PwC). South Africa’s $124bn GEPF is the biggest but many other fast-growing African funds are also investing in infrastructure and private equity.
A round-up of recent African IPOs and other listings, many over-subscribed, shows demand and innovation – Namibia scored its first SPAC and Mauritius listed GDRs.
Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.
The Namibian Stock Exchange and the central Bank of Namibia are working together to create a central securities depository (CSD) for equities, bonds and bills traded. They are waiting for laws and regulations to be passed to get the new system operational.
The International Finance Corporation continues its programme of helping develop African debt markets by launching the first bond by a non-resident issuer in Namibia. It raised NAD 180 million (about $12m) which it will use for private sector development.
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has been accepted as an associate member of the International Organization of Securities Commissions (IOSCO).
All 4 Namibian stockbrokers have switched their front-end links into the local bourse to the trading solutions supplied by IRESS, a leading global supplier of innovative securities, financial markets and wealth management technology.