Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
East Africa Hopes to Have Regional Stock Exchange in a Year-Experts
July 9, 2013--East Africa's dream of a regional stock exchange that merges into one the stock markets of the five East Africa Community member states is likely to take off in a year or two, key players in the region have said.
"Definitely we want to have one stock exchange. Technically, I think we are almost there. Maybe it will happen in about a year or two," said Kenneth Kitariko, Chief Executive Officer of African Alliance, Uganda's leading brokerage firm. Mr Kitariko, who is also a member of the Governing Council of the Uganda Securities Exchange, was speaking to African journalists at an event organized by the Thomson Reuters Foundation in Kampala last week.
view more
Source: All Africanews.com
Rand under pressure, bonds weaker
July 8, 2013--The rand touched fresh 2-week lows against the dollar on Monday and could lose further ground as the greenback remains supported by jobs data that has boosted chances the United States will soon pull back on its bond-buying programme.
News that Anglo Platinum [JSE:AMS], the world's number one producer of the precious metal, has been hit by a wildcat strike at one of its mines will weigh further on local sentiment.
view more
Source: FIN24
Kenya to Introduce Exchange-Traded Funds, Market Regulator Says
July 8, 2013--The Nairobi Securities Exchange (NSEASI), Africa's third-best performing bourse this year, will begin offering exchange-traded funds, the Capital Markets Authority said.
The funds will be offered “in an effort to increase the scope of capital market products available in Kenya,” the Nairobi-based regulator said in an e-mailed statement today.
view more
Source: Bloomberg Business Week
Stocks driven down by resources slump
July 5, 2013--South African stocks were dragged lower by a slide in the shares of mining companies on Friday as stronger-than-expected US jobs data hit gold prices.
The benchmark Top 40 - (Tradeable) [JSE:J200] declined 2.35% to close at 34 684.53, while the broader All-share index was felled 2.15% to 39 169.83.
view more
Source: FIN24
Rand under pressure
July 5, 2013--The rand held broadly steady against the dollar in early Friday trade although investors remained jittery ahead of US jobs data that should give a clue about the timing of the Federal Reserve's withdrawal of stimulus.
Domestic mining concerns were also hanging over the local currency.
At 08:49, the rand was at R10.0335/$, compared to a close of R10.0260 in New York time on Thursday.
view more
Source: FIN24
Egypt faces rising financial risk-data
July 5, 2013--Egypt's crumbling public finances may be in even worse shape than previously estimated.
While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt's debt insurance costs have tumbled, data shows that financial risks are about to escalate.
The central bank's net hard currency reserves, which a country needs to pay for imports, are in negative territory if upcoming short-term obligations are included, indicating a looming funding crunch for Egypt unless it quickly accesses external aid.
view more
Source: FIN24
Africa: Private Equity-Bringing Development Capital to Africa?
July 4, 2013--Africa's private equity industry has been gaining ground. Last year, despite difficult global economic circumstances, deal value reached $1.1bn with East Africa taking the lion's share.
And the sector has raised as much as $3.7bn of capital, in its 2008 peak before the financial crisis, according to data from Private Equity International.
view more
Nigeria sells $1bn bonds, Okonjo-Iweala says view more
The yield on the bond due in 2026, the market benchmark, edged up one basis point to 7.955%, as did the shorter-dated 2015 paper to 6.135%.
Source: FIN24
July 3, 2013--The Minister of Finance, Ngozi Okonjo-Iweala, said on Wednesday that Nigeria returned to the capital market after two years of absence and sold $1 billion bond with ease.
Ms. Okonjo-Iweala said this in Abuja while briefing newsmen on the recently concluded road show in Europe and U.S. to float the billion dollar bond to international investors.
Source: Premium Times
