Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Digital public infrastructure (DPI) will drive AI for Africa's economic transformation
February 11, 2025-Recent developments within Africa's digital ecosystem will help drive Africa's economic transformation, but key policy frameworks and infrastructure are needed for most countries to benefit fully.
The AU Data Policy Framework was adopted in 2022, followed by the passage of national-level data protection policies and strategies in about 40 African countries.
This lays the initial foundation for safe and ethical digital transformation. Emerging technologies such as artificial intelligence, the Internet of Things, blockchain, and big data can significantly contribute to GDP and job creation in Africa.
For instance, AI has the potential to add up to $15.7 trillion to the global economy by 2030, with Africa contributing an estimated $1.2 trillion. Achieving this will require innovative strategies that leverage these technology partnerships with the private sector to invest in infrastructure that serves the public good.
The adoption of the African Union Continental AI Strategy in 2024 was yet another indicator of African leaders' resolve to leverage data and technology for Africa's development.
view more
Source: acetforafrica.org
Nigeria: Investments in Mutual Funds Rise 80.8 Percent to N4.1trn
February 4, 2025--The appetite of Nigerian investors for Mutual Funds has surged with its total asset under management increasing by 80.8% Year on Year, YoY, to N4.1 trillion on January 24, 2025 from N2.3 trillion in the corresponding period 2024.
Data released by the Securities and Exchange Commission (SEC), has shown that Money Market Funds were the most patronised as it recorded the highest asset value of N1.887 trillion and accounted for 45.81% of the total Net Asset Value, NAV of the Mutual Funds.
Stanbic IBTC Asset Management's Money Market Fund was the most active accounting for 45.83% of the Fund's NAV. Following it was FBNQuest recording 20.43% of the NAV, while Cardinalstone Money Market Fund accounted for 7.5% of the NAV.
view more
Source: allafrica.com
Zimbabwe: Deepseek Will Hardly Dent 'Magnificent Seven' Stocks
February 3, 2025--DeepSeek's emergence roiled markets earlier last week, but investors see limited scope for the Chinese artificial intelligence startup to dent the performance of the Magnificent Seven, the latest Bloomberg Markets Live Pulse survey showed.
The decision follows ongoing liquidity challenges in several frontier markets, which have been exacerbated by delays in the repatriation of funds in dollars.
Of the 260 respondents, 88 percent said the debut of the startup's latest model- which wiped US$784 billion from the S&P 500 last Monday-will have little to no impact on the shares of the US technology behemoths in coming weeks.
Few are cutting their exposure to the S&P 500, an index dominated by the massive tech companies.
view more
Source: allafrica.com
South African growth outlook has improved but inflation risks abound, central bank says at Davos
January 21, 2025--Growth in Africa's most industrialised economy could be close to 2% in 2025, versus the 1.1% growth projected for 2024
South Africa's economic outlook is better this year than last, but the inflation picture is more muddied as risks abound, its central bank governor said on Tuesday.
South African Reserve Bank (SARB) Governor Lesetja Kganyago told Reuters in an interview at the World Economic Forum's annual meeting in Davos, Switzerland, that growth in Africa's most industrialised economy could be close to 2% in 2025, versus the 1.1% growth projected for 2024.
view more
Source: zawya.com
JSE plunges to lowest level in four months
January 14, 2025-- Industrial stocks recorded the biggest losses.
It was a sea of red on the JSE on Monday, with the bourse closing 1.7% down, at 82 046 points- its lowest level since mid-September.
Earlier in the day, the JSE All Share Index (Alsi) fell over 1.8% and below the 82 000 level, before recovering some losses. The Top 40 ended Monday 1.79% down. Industrial stocks fell more than 2%, while financials were 1.89% lower.
view more
Source: moneyweb.co.za
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.
The news follows the Ethiopian Capital Market Authority (ECMA) awarding the ESX an operational licence last Saturday (7 December). ESX has two licences; 1) to operate a Securities Exchange for trading securities of issuers that meet the listing criteria and 2) to operate an Over the Counter (OTC) Market for securities of issuers that do not meet the listing criteria, such as smaller businesses.
view more
Source: africancapitalmarketsnews.com
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.
Data released by the Securities and Exchange Commission, SEC, showed that the Fixed Income Funds contributed significantly to boost the Funds as it accounted for 47.76% of the total NAV. It was followed by Money Market Funds recording N1.524 trillion in the period under review and accounted for 40.31% of the total NAV.
view more
Source: allafrica.com
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.
The latest Standard Bank Africa Trade Barometer, which tracks 10 African countries among the 54 signatory nations of the African Continental Free Trade Area Agreement (AfCFTA) shows 37% of the businesses prefer partners based in African markets compared to Asia(24%), Europe(16%) and North America(3%).
view more
Source: allafrica.com
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.
Specifically, investors lost over N1.222 trillion of their investments on the Exchange following the bearish sentiments that was driven by decreases in the share prices of prominent stocks, including Aradel which was newly listed, declining by 10.00%, UACN 5.73% , UBA 2.68% among other shares...
view more
Source: allafrica.com
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.
For the next fiscal year, the deficit is expected to be 4.3% of GDP,compared to the earlier 3.7% estimate. The rand weakened following these announcements. Revenue collection is under pressure due to declines in fuel and import taxes, and Finance Minister Enoch Godongwana emphasized the need for tough fiscal decisions in light of limited growth.
view more
Source: africanews.com
