The Editorial Team |

Nigeria’s equity positive momentum tapers: 19 Feb 2015

NSEASI up 36bps There was a moderation in gains today in the Nigerian Equity Market as the All Share Index advanced 36bps and closed at 29,282.04pts after trade. Market capitalisation also added N34.9bn to close at N9.8tn. Despite the sell down in Dangote Cement (1.8%) which weighted down the market, gains in Nestle (3.6%), Lafarge (4.9%) and Nigerian Breweries (1.1%) delivered the marginal appreciation in the benchmark index today. As today’s market performance was largely…

Consortium plans to set up South Africa’s 2nd bourse

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JOHANNESBURG (Reuters) – A consortium led by Bravura Equity Services plans to set up a stock exchange in South Africa for companies that are currently trading their shares on the over-the-counter platform, the company said on Thursday.If granted, the proposed bourse would be the second exchange after the more than a century old Johannesburg Stock Exchange (JSE) – Africa’s biggest and most liquid stock market.The mooted bourse would also add another layer in the Africa’s…

Nigerian Central Bank closes RDAS/WDAS Foreign Exchange Window

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The Central Bank of Nigeria (CBN) today published a circular closing down the RDAS Window stating that forthwith, all demands for foreign exchange should be channeled through the Interbank Foreign Exchange Market. The Apex bank also stated that it will continue to intervene in the interbank foreign exchange market to meet genuine/legitimate demands.This is a positive development as we have always clamoured for a one-way quote to reduce speculation and unhealthy malpractices. The development can…

Actis launches $1.9bn pan-African renewable energy platform

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Actis today announced the launch of a pan-African renewable energy generation platform, Lekela Power. Actis is investing alongside Mainstream Renewable Power, the global wind and solar developer, which will own the other 40% of the platform. Lekela Power is the eighth such energy platform Actis has created, following a proven replicable strategy of aggregating energy assets into scalable regional platforms. This focused approach was most recently demonstrated in the development of Ostro Energy, a renewable…

African Market Watch: Wednesday, 18th February 2015

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Kenya: The NSE 20 increased by 42.32 points in today’s trading to close at 5,446.04. The NASI Index went up 1.27 points to close at 174.17. The top gainer today was Kakuzi, rising 8.25 percent to close at KES 315.00. The top loser was BOC Kenya, shaving off 5.66 percent to close at KES 150.00. At the close of the day’s trading, volumes of shares traded were recorded at 31.04mn shares, up 68.88 percent. Turnover…

Nigerian equity bull continues: 18 Feb 2015

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NSE-ASI up 255bps. The Nigerian equity market today extended its 2-day rally in large cap stocks as the broader market Index advanced 255bps to close 29,177.58pts, paring the NSE-ASI YTD loss to15.8%. Similarly, market capitalisation added N241.9bn to close at N9.7tn. However, market activities measured by volume and value declined 15.2% and 0.3% to close at 424.3m units and N3.5bn respectively. Broad Sector Gains Persist All sector indices sustained their positive momentum today. The Banking…

Rwanda: Equity Banking Group Cross-Lists in Rwanda

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Kigali, Rwanda — Equity Group Holdings, one of Kenya’s biggest banking concerns, last week became the fourth firm to cross-list on the Rwanda Stock Exchange joining the Uganda Securities Exchange and the Nairobi Stock Exchange. “This is a major milestone in our development plan of truly becoming an East African Bank,” Equity Group CEO and MD, Equity Bank Rwanda James Mwangi said during a news conference held at the just concluded Capital Markets East Africa…

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