African Stock Exchanges |

African Could Drive A Globally New Stock Exchange Model

LAGOS (Capital Markets in Africa) – For decades, analysts and influencers have believed that Africa would emerge from its colonised past most powerfully by developing new business and economic models. The global economy had evolved in the West and could therefore not hope to accurately serve the needs of nations that had been bereft of wealth and self-determination for so long. Africa would need to leapfrog Western habits of thinking, creating new approaches to politics,…

Egypt’s Ibnsina Pharma Plans Expansion After $90 Million IPO

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CAIRO (Capital Markets in Africa) – Ibnsina Pharma, Egypt’s second-biggest pharmaceuticals distributor, plans to invest 700 million Egyptian pounds ($39 million) over the next five years to expand its storage hubs using the proceeds from its ongoinginitial public offering. The company, which is offering 40 percent of its shares in the local market for about $90 million, plans to add 20 new distribution centers over the next five years to boost growth, co-Chief Executive Officer Omar…

Foreign Holdings of Egypt Debt Reach $7.5 Billion, Official Says

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CAIRO (Capital Markets in Africa) – Foreign investors are lapping up Egypt’s local-currency debt. Overseas holdings of Treasury bills rose by more than 10 percent in a week to 136 billion pounds ($7.5 billion) as of May 30, Samy Khallaf, head of the Finance Ministry’s public debt division, said on Wednesday. That compares with about 10.1 billion pounds at the end of December, central bank data show. Investors have been pouring money into Egyptian debt and…

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…

Egypt Stocks Jump Most Since March on Currency Devaluation Hints

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CAIRO, Egypt, Capital Markets in Africa: Egyptian stocks advanced the most since March after the central bank hinted it may devalue the local currency. The EGX 30 Index rose 2.9 percent to 7,182.8 at the close in Cairo. About 609 million Egyptian pounds ($69 million) of shares traded, the most since May. The rally came a day after Central Bank Governor Tarek Amer said that the policy of defending the pound in the past five years was a “grave mistake,”…

Devaluation Bets Send Egyptian Stocks Rising to August High

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CAIRO, Egypt, Capital Market in Africa — Egyptian stocks surged to an eight-month high on speculation that authorities will devalue the currency for the second time this year. Local investors fueled a fifth day of gains as a persistent dollar shortage forced the Egyptian pound to a record low in black market trading. The nation’s decision to weaken its currency by the most in 13 years last month has so far proved insufficient to attract foreign investment…

Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

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Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange witnessed positive return at the end of Monday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went up 1.21 percent to end at 9,409.94 points (with a year-to-date performance to 5.43 percent) with total market capitalization at MAD 471.621 billion (a fall of MAD 4.84 billion or US$28 million relative to previous market capitalization of MAD 466.778). The market activity measured as total…

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