Newly licensed Ethiopian Securities Exchange unveils trading floor
December 13, 2024--The Ethiopian Securities Exchange has today (Friday 13 December) announced that it will officially launch in mid-January 2025. CEO Tilahun Esmael Kassahun and top colleagues held a press conference on a smart new ESX trading floor.
West Africa: Nigeria's Investment Appetite Grows, Mutual Funds Up 89.5 Percent to N3.8trn
November 19, 2024--Nigerians' appetite for secured investment has pushed the Net Asset Value (NAV) of Mutual Funds to N3.781 trillion in the first week of this month, up 89.5 % from N1.995 trillion in the corresponding period 2023.
Analysts partly attributed the surge in the Funds to the impact of steady mark up in monetary policy rate, naira devaluation among other factors.
Africa Topples Asia, Europe, Us As Africa's Preferred Trade Market
November 18, 2024--African businesses increasingly prefer to trade across the continent's borders over out-of-the-continent markets like Asia, the US, and Europe, due to a rising quality of made-in-Africa goods, lower market prices, and accessibility.
Nigeria: Stock Market Returns Bearish As Investors Lose N1.3 Trn in 5 Days
November 4, 2024--The Nigerian stock market ended last week ended on a bearish note, as both the Nigerian Exchange, NGX All Share Index, ASI and market capitalisation fell to 97,432.02 points, and market N59.038 trillion, down from the previous week's close of 99, 448. 91 points and N59. 432 trillion respectively.
South Africa projects wider deficits and rising debt despite improved growth
October 31, 2024--South Africa's government forecasted higher budget deficits and debt for the next three years, even as improved electricity supply suggests better growth prospects. In its first budget review since forming a coalition,the National Treasury projected a 5.0% deficit of national output for the fiscal year ending in March 2025, up from the 4.5% previously forecast.
Options derivatives trading coming to Nairobi Securities Exchange
October 31, 2024--A big step forward for Kenya’s derivatives market NEXT, a part of the Nairobi Securities Exchange (NSE), as it moves to introduce options derivatives trading. These will be options on the existing NEXT securities, which are futures contracts for single stocks and indices offered by the NSE.
The Capital Markets Authority Kenya has approved the development.
Uganda Joins BRICS As Partner Nation, Paving the Way for Increased Trade and Investment
October 24, 2024--Uganda has officially joined BRICS (Brazil, Russia, India, China, and South Africa) as one of 13 new partner nations in a move set to reshape its international trade and investment prospects.
By aligning with the BRICS alliance, Uganda is positioning itself to benefit from deeper economic ties with some of the world's largest emerging markets.
BRICS: African leaders call for reforms of international institutions
October 23, 2024--African leaders attending the summit of BRICS nations currently underway in Russia, spoke out on Wednesday about what they see as important issues on the international stage.
Gender Parity Will Unlock $287bn for Africa's Economy By 2030-Report
September 19, 2024--Tackling systemic barriers towards the participation of young women in Africa's workforce will drive an estimated $287 billion to its economy by 2030, boosting GDP by 5 per cent, according to a new report commissioned by the Mastercard Foundation.
Africa: Climate-ECA Reveals Africa Loses Up to 5 Percent of GDP
September 4, 2024--The United Nations Economic Commission for Africa (ECA), the World Meteorological Organization (WMO) and the African Union Commission, jointly announced the continent Africa needs urgent and increased investment in climate adaptation and resilience.