African Capital Markets

Kenya’s market regulator grants listing approval for first ETF

NAIROBI (Capital Markets in Africa) – Kenya’s market regulator has allowed the listing of the country’s first-ever Exchange Traded Fund (ETF), which will track the price of gold, the regulator said on Friday. The Nairobi Securities Exchange has been investing in new infrastructure to include trading of new products like ETFs, to diversify from equities and bonds, its chief executive Geoffrey Odundo, told Reuters last November. The Capital Markets Authority (CMA) said in a statement…

Egyptian Equity closes in the North Pole, EGX30 1.64% up

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CAIRO (Capital Markets in Africa)- The Egyptian Exchange (EGX) ended Thursday’s trading session in a rise, as the benchmark index EGX30 added 1.64% or 203.6 points and closed at the level of 12,651.97 points, after closing five consecutive sessions in red. EGX70 declined by 0.96% to 512 points, and similarly, the broader index EGX100 lost 0.88% to the level of 1,220.19 points. On the other hand, the equal-weighted index EGX50 rose 1.78%, closing at 1,957.58…

Bargain Hunting Pushes Nigerian Benchmark Index to Close Higher

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LAGOS (Capital Markets in Africa) – Performance in the Nigerian equities market deviated from the 2-day bearish trend, as the All Share Index (ASI) rose 0.4% to close at 25,130.26 points while YTD loss trimmed to -6.5%. Consequently, investors gained N33.9bn as market capitalization improved to N8.7tn. Gains in counters which had previously declined – NIGERIAN BREWERIES (+4.2%), DANGCEM (+0.6%) and FORTE (+10.2%) – ensured the market closed positive. However, market activity was mixed as volume traded rose 11.7% to settle at…

Kenyan Bourse Develops Equity Index, Single Stock Futures

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NAIROBI (Capital Markets in Africa) – Nairobi Securities Exchange has sought regulatory approval to introduce products in derivatives market, Capital Markets Authority says in e-mailed statement. Regulator proposes to charge fee not exceeding 0.14% per value of equity index futures contract, 0.17% per value of single stock futures contract. Proposed fees will “give investors exposure to price movements in the derivatives instruments rather than the underlying individual constituents”. Charges cover securities exchange, clearing member, trading…

Demutualisation: The Key to improving African Stock Market Performance

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EXCLUSIVE INTERVIEW with Dr EDOH KOSSI AMENOUNVE, Chief Executive, Bourse Régionale des Valeurs Mobilières (BRVM) and the Central Depository/Settlement Bank (DC/BR). He also the Chairman of the West African Capital Markets Integration Council (WACMIC). Dr AMENOUNVE has led major financial market reforms in Africa and shares his views on demutualization and capital markets integration in West Africa as well as the growth prospects of the Francophone West African countries with Capital Markets in Africa. Many thanks for…

Rwanda is resilient against current fuzzy global economic outlook — Robert Mathu, Executive Director

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Robert C. Mathu, Executive Director of the Capital Market Authority (CMA), Rwanda gives an exclusive interview to Capital Markets in Africa and elaborates on aspects of Rwanda capital markets development and investment opportunities. Robert believes that Rwanda’s economy is resilient against the bleak performance that emerging markets are expected to deliver in 2016 and beyond. To get us started, please tell us a bit about yourself and your experience as the Executive Director, Rwanda Capital Markets Authority so far? Robert…

African Sovereign Eurobond February 2016: Spreads Narrrowing amidst unchanged Fed Rate

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Lagos, Nigeria, Capital Markets in Africa — African sovereign Eurobonds spreads narrowing in February compared to January spreads. This is as a result of the US Federal Reserve signalled that the Fed has put future rate hikes on hold but will continue to monitor closely developments in the global economy and financial markets. In addition, crude-oil price recovery on hopes that key oil producers aimed at freezing or cutting current levels of production and couple with the…

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