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First African fixed income ETF listed in Mauritius, tracking bond index
September 21, 2018--African Development Bank (AfDB) and Mauritius Commercial Bank Group (MCB) have launched the African Domestic Bond Fund (ADBF), a pioneer exchange-traded fund (ETF) accessible to investors through listing on 18 September on the Stock Exchange of Mauritius.
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Source: africancapitalmarketsnews.com
JSE rallies as Ramaphosa announces economic stimulus plan
September 21, 2018--The JSE rallied to close firmer following the announcement of the economic stimulus plan by President Cyril Ramaphosa.
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Source: FIN24
After firming, rand weakens in wake of stimulus announcement
September 21, 2018--The rand initially firmed 0.65% to R14.19/$ following the release of President Cyril Ramaphosa's R50bn economic stimulus package, but subsequently weakened to trade at R14.36/$.
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Source: FIN24
Ramaphosa's stimulus plan: What you need to know
September 21 2018--An upbeat President Cyril Ramaphosa announced the government's much-vaunted economic stimulus plan at the Union Buildings in Pretoria on Friday.
Here is what you need to know.
There is no big number to the plan and it is difficult to determine exactly how much money the state will pump into the economy in an effort to jump-start growth.
The plan rather centres around the reprioritisation of existing budgets.
R50bn, however, is a one hard number mentioned the the president.
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Source: FIN24
Investability of Africa's listed markets
September 20, 2018--Relative illiquid stock exchanges, high costs of trading and fees detract from the investability of Africa's listed markets.
Cost of trading
It is difficult to obtain cost of trading information in Africa. Reflected above are the markets for which reliable information could be obtained. The cost of trading on African exchanges is substantially higher than developed markets. A significant portion of trading fees is made up of brokerage commissions. The substantial portion of other fees in South Africa, mostly represent Securities Transfer Tax, which is not charged in most developed markets.
The limited pool of licensed brokers in each country results in very low power to investors to switch to a more affordable competitor. However, the low volume of trades on these exchanges means that brokers charge more on each trade to cover their costs. It's a difficult position to get out of without incentivisation for brokers to lower their fees.
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Source: brightafrica.riscura.com
JSE firms as markets shift attention from trade war
September 20, 2018--The JSE has firmed along with other major global markets as focus shifted from the Sino-USA trade war.
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Source: FIN24
Rand at best level in a month ahead of rates decision
September 20, 2018--The rand firmed almost 1.5% on Thursday morning ahead of the SA Reserve Bank's interest rate decision.
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Source: FIN24
JSE inches higher as inflation slows
September 19, 2018--JThe JSE barely closed firmer, mainly on the back of gains recorded in the financials and resources indices.
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Source: FIN24
JSE struggles for direction as Trump strikes again
September 18, 2018--The local bourse has struggled for direction as global markets digested the imposition of a 10% tariff on Chinese goods by the US, which is set to kick in on 24 September.
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Source: FIN24
Rand holds firm despite developments in US-China trade dispute
September 18, 2018--The rand held firm, trading just below R15/$ to the greenback on Tuesday morning, despite developments in the US-China trade dispute.
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Source: FIN24
