Ghana: Subscriptions for Eti Shares Begin On Aug 25
Subscriptions for the US$2.5 billion combined Rights Issue and Public Offer of Ecobank Transnational Incorporated (ETI), the holding company of the Ecobank Group, will commence on Monday August 25.
South Africa: Stricter JSE Rules for Auditors
NEW JSE listing requirements will compel auditing firms that wish to audit listed companies to be registered by the JSE and be listed on its register of auditors and advisers.
Nigeria: NSE - Analysts Blame Market Melt- Down On Govt Actions
Prevailing lull in the Nigerian stock market has been attributed to various actions taken by the Federal Government in recent times, which have sent wrong signals to foreign investors who form the crux of investors in the market lately.
Nigeria: Lagos Signs 275 Billion Naira Bond Into Law
Lagos State Governor Babatunde Fashola, on Tuesday signed the law to raise N275 billion from the capital market for the next three years.
Uganda: Stanbic Bank Shares Boost Own Image, Bourse Value
Close to 19 months after the listing of its shares on the Uganda Securities Exchange, Stanbic Bank Uganda Ltd is happy that the market, brand value and worth of the company have significantly improved.
Uganda: Citizens in Diaspora Buy Govt Securities Worth 150 Million U.S. Dollars
The participation of none-resident Ugandans in the purchase of government securities is making a distinctive mark on Uganda's economy with inflows hitting $150 million.
South Africa: Safety First
INVESTORS are surely getting used to wild gyrations in banking sector share prices following one of the most volatile periods in the JSE's history.
Nigeria: NEM's Shareholders Endorse Plans for Recapitalisation
SHAREHOLDERS of NEM Insurance Plc have approved the company's board of directors proposal to further raise its capital base to N10 billion .
Nigeria: Bears Continue Rampage At the Exchange
Transactions opened Monday at the Nigerian Stock Exchange (NSE), with the Bears tightening their grip on activity in the market, even as more companies continue to experience set back.
Burundi: Country Set to Join East African Capital Markets Body
Investors in Burundi are looking forward to the integration of the country into the East African capital market, which will enable them to participate in regional initial public offerings without discrimination.
Uganda: Safaricom Share Price Plunges On Anxiety
When Jennifer Natukunda took a loan to partly finance her investment in Safaricom touted as East Africa's most profitable company, she had a strategy: To sell off half of her shares on the first day of trading; repay the bank loan and retain the rest for long-term investment.
Uganda: Seamless Information Flow Valuable to Stock Markets
The advancement of the information age has led to the rise a fast reliable flow of information across the globe hence the term, "Global-Village" thereby making the challenges of physical distance a thing of the past. Advancement in ICT has led to instant and seamless connection of people across virtual platforms.
Uganda: Firms' Stocks Will Be Profitable in The Long Run
Oversupply of Safaricom shares at the Nairobi Stock Exchange has caused the stock to perform below the expectations of some investors. The stock, last week, plunged to a record low of KShs4.95 (August, 12) in what analysts believe is due panic selling resulting from anxiety over outstanding bank loans.
Tanzania: Low Turnout for NMB Shares
The first day of the NMB Bank initial public offer (IPO) was marked by a low turnout from lower income earners, the group that the bank says is its primary target.
Tanzania: Unit Values of Schemes Post Gains
The Wekeza Maisha unit value gained to Sh112.6015 on Friday last week from Sh112.3607 the previous Friday, continuing the trend for four weeks straight. The scheme was selling a unit at Sh112.6015 on Friday last week, up from Sh112.3607 the previous Friday.
Tanzania: Dar es Salam Stock Exchange Trading Plunges
The Dar es Salaam bourse plunged last week after previous week's resurgence as companies performed poorly in trading and other stocks remained dormant. All foreign companies that listed at the Dar bourse that include KA, JHL and EABL have been inactive for a long period, a weekly survey by The Citizen indicates.
South Africa: Pallinghurst Lists on JSE This Week
PALLINGHURST Resources, the investment company established by Brian Gilbertson, Arne Frandsen and various institutions, is likely to make its debut on the JSE on Wednesday at about 800c a share, Frandsen confirmed on Friday.
Kenya: Huge Demand Pulls T-Bill Rates Down
Heavy subscription at the government's debt auction continues to drive interest rates down presenting Central Bank with a cheaper option to source funding.
South Africa: Theory Points to Better Market
THEORIES don't always hold true, but if the theory that when a plotting bounces from the lower edge of a Bollinger band it will continue upwards to reach the upper edge holds true, then the stock market is recovering.
South Africa: Commodities Tumble as Gold Slides Below $800
FEARS that slowing economic growth was hurting global demand sent commodity prices across the board tumbling on Friday, with gold plunging below $800/oz, the biggest weekly decline in more than 25 years.
South Africa: Rand, JSE on Back Foot as Metals Take a Knock
THE rand hit a seven-week low on Friday, trading at R7,88 to the dollar after slumping to R8 in early trade, its weakest mark since June 25.
Nigeria: BPE Refutes Slow Down of Privatisation Exercise
The Bureau of Public Enterprises (BPE) yesterday debunked alleged delay in the privatization of public enterprises, even as it commenced a special sale of 637, 919,840 million shares of Capital Hotels Plc to the investing public by way of public offering on the Nigerian Stock Exchange (NSE).
Nigeria: NSE Lists Capital Hotels' 637.9m Shares
Federal Government's shares in Capital Hotels Plc (owners of Abuja Sheraton Hotels and Towers) were yesterday, formerly sold and listed by the Nigerian Stock Exchange (NSE) on its daily official list.
Nigeria: Lagos to Raise N275 Billion From Capital Market
Lagos State government yesterday said it would raise loans from the capital market in the next three years through issuance of N275 billion bonds.
Kenya: Co-Op Bank Sh10 Billion Public Offering Due in October
Investors will have a chance to buy a stake in Co-operative Bank come October this year.
South Africa: Bell's Share Price Fundamentally Lower Than It Ought to Be
IN DOING some more homework on Bell Equipment's results for the half-year to June , I have again noticed how often the market mood, at least temporarily, destroys the normal correlation of a company's growth earnings and its share price.
Uganda: Batu Remains Bearish On Low Stock Demand
Share prices rise and fall. The latter is clearly lingering around the trading counter of British American Tobacco at the Uganda Securities Exchange waving losses at some investors. The share price of the tobacco leaf exporter has continued to decline in the last four months after a short lived record breaking ascent.
South Africa: Miners Battered By Dive in Gold Price
SOUTH African heavyweight gold shares plunged to three-year lows yesterday after a $58/oz drop in the gold price in overnight trading to $802/oz, its worst level in seven months.
South Africa: JSE Outshines the Companies on Its Boards
THE JSE yesterday released a healthy set of interim results, which showed attributable profit rising 326% to R173m, in a results season peppered with less than stellar figures.
Nigeria: IHS Gets CAC Approval for NSE
Telecommunications infrastructure company, IHS Nigeria has received the nod of the Corporate Affairs Commission (CAC) to be known and styled IHS Nigeria Plc.