NGX stock exchange soars after listing – on itself
Nigerian Exchange Group Plc has had an excellent start to trading its shares on its own securities exchange after listing by introduction on 15 October at NGN16.15 per share (market capitalization NGN 31.7 billion/ $77.2 million) before an active first day saw it soar to NGN 17.75. Last week (starting 18 Oct) it topped at […]
Nigerian Stock Exchange launches SME Board
Dynamic Nigerian entrepreneurs are in focus after the Nigerian Stock Exchange launched a growth board for fast-growing small and medium enterprises (SMEs) to help businesses raise long-term risk capital and grow. At the 29 January the bourse outlined the services on offer for businesses in the growth cycle. Services offered include: pre-listing diagnostics, institutional services […]
SEC Nigeria clears Nigerian Stock Exchange demutualization
Next step in the long demutulization of Nigerian Stock Exchange will be a court ordered meeting and an extraordinary general meeting. The demutualization is set to transform another of Africa’s most dynamic exchanges. Last month (January 2020) the bourse received a letter from the Securities and Exchange Commission Nigeria with “no objection” to its planned […]
African exchanges link sets 2021 start date
Seven of Africa’s largest securities exchanges are set to have an active link by the first quarter of 2021, according to an article on Bloomberg.com today 30 December. The article quotes Karim Hajji, President of the African Securities Exchanges Association (ASEA) and CEO of Casablanca Stock Exchange. He says the African Exchanges Linkage Project (AELP) […]
Airtel Africa confirms June $750m listing in London
Airtel Africa has confirmed that it is going ahead in June 2019 with its $750 million listing on the main market of the London Stock Exchange, as flagged up in January in our article. Owned by India’s Bharti Airtel, it is Africa’s second biggest mobile operator with operations in 14 countries and has 99m subscribers […]
Work starts on African exchanges linkage project
Africa’s stock exchanges, regulators, central banks, stockbrokers and clearing systems are working together on the African Exchanges Linkage Project (AELP), set to create trading and information links between the 7 leading securities exchanges. Participating exchanges at the first capital markets stakeholders’ roundtable were the West African regional exchange Bourse Regionale Valeures Mobilieres (BRVM), Casablanca Stock […]
Liquidity and cost of trading on Africa’s stock exchanges – Bright Africa 2018
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.
London Stock Exchange financing African growth
There are 108 African companies listed or trading on the London Stock Exchange with total market capitalization of over $200 billion ($271bn). In the last 10 years they have raised more than $16 bn on London’s markets.
Highest ranked African securities exchange websites
According to www.Alexa.com, in rankings today (9 Jan) the Nigerian Stock Exchange website was ranked #83,112 busiest website in the world ahead of the Egyptian Exchange, JSE, BRVM and Nairobi Securities Exchange.
Nigerian Stock Exchange’s new Nasdaq market surveillance
The Nigerian Stock Exchange has gone live with a new market-surveillance IT platform powered by SMARTS, a solution supplied by Nasdaq.
Progress of real-estate investment trusts (REITs) in financing Africa
“There are only 32 REITs (real-estate investment trusts) in Africa with South Africa being the largest REIT market having 27 REITs and Nigeria second with 3 REITs listed”, according to Oscar Onyema, CEO of the Nigerian Stock Exchange. He said REITs are only available in 4 countries – Ghana, Nigeria, South Africa and Kenya – […]
Africa IPO round-up
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
BRVM securities exchange strategy dialogue with US frontier funds
In New York 30 US frontier investors, stockbrokers and market specialists joined Edoh Kossi Amenounve, CEO of the West African regional exchange BRVM, to give their inputs to strategy development for the fast-growing stock market.
Building African Financial Markets seminar
The 5th Building African Financial Markets (BAFM) capacity-building seminar is coming to the Nigerian Stock Exchange Event Centre in Lagos on 28-29 April, organized with the African Securities Exchanges Association.
Cross-exchange trading between Ghana and Nigeria stock exchanges
Brokers on the Ghana and Nigerian Stock Exchanges in July achieved a first cross border securities trade under the stage “sponsored access” of West Africa’s capital markets integration first launched 2013. This opens the way for more cross-border deals.
Nigeria’s SEC asks for comments on exchange demutualization
Nigeria’s Securities and Exchange Commission published rules on demutualization of securities exchanges on 20 February, with a 2-week deadline for comments.
Dar es Salaam Africa’s top stock exchange to 31 Jan
Tanzania’s Dar es Salaam Stock Exchange topped the performance list for the 12 months to 31 Jan in USD, managing a 27% climb and beating the S&P 500 index which rose 11.9%.
Direct market access links West Africa securities exchanges
The framework for linking West African securities exchanges starts with direct market access (DMA). A stockbroker on one West African exchange can transact on the Nigerian market through the system of an approved Nigerian stockbroker.
9 African IPOs in first half of 2014 raise $808m, passing all 2013
Initial public offers (IPOs) on African stock exchanges for the first half of 2014 has raised capital totalling $808.5 million, compared to a total of $757.5m raised throughout 2013
Nigerian Stock Exchange seeks advisors for demutualization
The Nigerian Stock Exchange is looking for external advisers to drive its demutualization process.
