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SEC Plans & Targets For Nigerian Stock Exchange

tape — Sat, 07 Jan 2012 07:58:29 +0000

The ambition of the Nigeria Securities And Exchange Commission is clear and simple,to boost the value of the NSE to a trillion dollars by the end of 2016.

How do they achieve that ? Through a series of measures and rules:

-Listing of the NSE itself to help the value of the exchange

-Requiring all companies to disclose financial information on their website ( a good example is First Bank ).

-To encourage expansion of the fixed income market.Nigeria central Bank has already hiked the rates on fixed income securities and cut taxes.

-To push pension funds towards stock investments which are limited to a total of 12 billion dollars so far.

-To combat risk averse attitude among local retail investors by producing ,with Nollywood film directors ,TV shows that promote a certain business attitude.

-Introduction of a new code of corporate governance

New listing of companies could also bring in that new blood so much needed to move towards the goal.

The state oil company is expected to float its joint venture companies on the NSE,the same move is expected in the power industry where some 19 new electricitygeneration and distribution companies are expected to attempt to raise the 50 billion dollars investment capital required on the NSE.

Other companies wished to list on the NSE include, Shell,Exxon and MTN Nigeria.

Nigeria stock market quick profile

Capitalisation of about 40 billion dollars

217 companies listed on the NSE

Five million Nigerians out of a population of 165 million are shareholders

|Source rinted version of The Africa Report |

The Nation Safe for Investment, SEC, NSE Re-Assure Investors (briefingnotesnigeria.wordpress.com)
SEC axe Nationalized banks (briefingnotesnigeria.wordpress.com)

Nairobi Stock Exchange Has One Not So Good Year

tape — Mon, 17 Oct 2011 10:28:04 +0000

Image via Wikipedia

“As at the end of September, the NSE 20 Share Index —which tracks the movement of share prices and which consists of a basket of stocks representative of the entire market —had dropped to 3,284 points from 4,432 points at the close of trading in December 2010″…..comparatively..”Last year the Kenyan market was one of the most robust in the continent giving investors high returns on the back of low inflation and interest rates and strong economic growth that hit 5.6 per cent, lifting the earnings of majority of the stocks at the bourse”.|Source:Business Daily|

Nairobi Stock Exchange Website

British-American IPO raises Ksh3.5 billion (siku-moja.blogspot.com)

|Past Conference |The Future of Money & Technology

tape — Mon, 25 Jul 2011 13:19:33 +0000

The Future of Money & Technology Summit brought together the best and brightest thinkers around money, including visionaries, entrepreneurial business people, developers, press, investors, authors, solution providers, service providers, and organizations who work with them at the convergence of cash and commerce.

Sub-themes that were discusses durig this meeting in february include the following :-Financial innovation
-Crowdfunding &Lending
-Designing the new bank
-The futur of Angel investing
-Monetizing intangible capital
-Ecosystem of financial Api’s,mobile money and micro sale.

Brought to you by Ticbank 2011

Crowdfunding Your Startup with MicroVentures (readwriteweb.com)
Important Stories for July 14,2011 (sociallypay.wordpress.com)

Nigeria Diaspora Fund Set to Launch In September 2011

tape — Sun, 24 Jul 2011 15:13:04 +0000

Image via Wikipedia

The Ministry of Trade and Investment of Nigeria wants to to float a Diaspora Fund as part of a startegy aimed at unlocking available capital in the hands of Nigeria citizens and descents living abroad. It is estimated at 20 billion USD the amount of money available yearly.18 billion USD are sent back every year by the diaspora .|Vanguard |

Interview with Wakanow.com CEO (startupafrica.com)
Diaspora Bonds (omegascorpi.com)

|IPO| Tullow Oil plc Raising GH¢124 million

tape — Mon, 20 Jun 2011 16:17:27 +0000

Tullow Oil plc is one of the leading independent oil and gas exploration and production company in Africa and currently a major partner in Ghana’s Jubilee field. The company is seeking to raise GH¢124 million through the issue of 4 million shares at GH¢31 per share. With 90 licenses spanning 22 countries, 1,383 mmboe
reserves as at the end of 2010, Tullow is an excellent investment opportunity for long-term growth investors.

Start June 16 2011

Ends July 4th 2011

EXPLORATION AND PRODUCTION PORTFOLIO

AFRICA

The oil sector in Congo (1) accounts for a large portion of
the country’s GDP and exports. With development and
production operations in Brazzaville, Tullow averaged 4,000
bopd in 2010, which represented 7% of the Group’s
production.

Côte d’Ivoire (2) is a major gas producer, producing
sufficient gas for the country, in addition to being a major
supplier to the West African region. With exploration,
development, and production across four offshore blocks,
Tullow produced 3850 bopd, approximately 7% of the
Group’s production, in 2010.

With two offshore interests for hydrocarbon industry,
Tullow’s development and production operations in
Equatorial Guinea (3) yielded 15,700 bopd, representing
more than a quarter of the Group’s total production.

Currently, hydrocarbon reserves in Ethiopia (4) are limited,
but Tullow Oil has shown an interest in exploration by
acquiring licenses in 2010.

Tullow Oil reports strong 2011 performance so far (marketwatch.com)
Tullow plans secondary listing in Ghana (marketwatch.com)
Ghana oil output to hit 120,000 bpd by Aug-Tullow (reuters.com)

Diaspora Bonds

tape — Wed, 01 Jun 2011 23:24:37 +0000

Diaspora bonds are seen as potential source of financing for Africa capital hungry economy.How would that work ?

They can be sold globally through national and international banks and money transfer companies [Western Union,Money Gram & the likes ]. They can be marketed through social hubs,think churches, community groups, ethnic newspapers/Websites, stores, and hometown associations in countries and cities [think New York,London,Paris,Abidjan,Johannesburg,DC,Houston & the likes ]where large numbers of migrants reside.

The Potential of Diaspora Bonds (africaunchained.blogspot.com)
Nigeria can do well with Diaspora bonds, Moneygram Director (vanguardngr.com)

New Model for SME Investing

tape — Sat, 14 May 2011 15:14:44 +0000

An article by CNN Finance states that “Over the past decade in the developing world, microfinance institutions (MFIs) attracted an increasing number of private equity investors. It was believed that these organizations, which have multiplied over recent years were the answer to stimulating economic activity. In just the past three years, an estimated $300 million has been invested in MFIs….the article continues on to say that “However, while MFIs do play an important role in development, there is an even greater need to support small and medium-sized enterprises (SMEs)..”.Recently the calls for or the development of a new model for SME investing that recognizes the huge potential these businesses can have on African economies, got more frequent.The answer has been that of organizations taking a novel approach to development while providing significant resources springing up around the world Fanisi,Grassroot Business to name a few.

Analysts and Fund Managers Forum and Financial Reporting Awards

tape — Thu, 24 Feb 2011 05:50:28 +0000

What:

Analysts and Fund Managers Forum and Financial Reporting Awards

When: March 24th 2011

Where:Thomson Reuters,South Colonnade,Canary Warf,London,UK

Who:Chief Executive Officers, Chief Investment Officers, Fund Managers, Portfolio Managers, Equity Analysts, Securities Analysts, Investment Analysts, Emerging Markets Analysts,Frontier Markets Analysts, Equity Strategists, Economists, Credit Analysts, Risk Managers, Heads of Asset Allocation, Heads of Investment Strategy, Heads of Capital Markets, Heads of Investor Relations and the financial media

The Agenda:

* Africa: The Value Proposition
* Valuation and accounting in African companies
* Standards of company reporting, disclosure and marketing communications
* CEO success stories
* Analysis of market trends and forecasts for 2011.

Official website

Conference:Environmental Bonds 2011 (omegascorpi.com)

Rwanda Stock Exchange

tape — Wed, 23 Feb 2011 08:48:11 +0000

Image via Wikipedia

The Rwanda Stock Exchange ( No website available), a memer of the African Stock Exchange Association, was founded on January 31st 2011.The RSE is operated under the jurisdiction of Rwanda’s Capital Markets Advisory Council, (CMAC), which in turn reports to National Bank of Rwanda, the country’s Central Bank.Having successfully launched Bralirwa, as its pioneer Initial Public Offering (IPO), the RSE is in preparation for its next IPO which is expected to be Bank of Kigali, coming in Q4:2011.

The RSE operates closely with the three other stock exchanges of the region, the Nairobi Stock Exchange in Kenya, the Dar-es-Salaam Stock Exchange in Tanzania and the Uganda Securities Exchange in Uganda. There are plans are to integrate the four (04) stock exchanges to form a single East African bourse

Why Should You Invest In Africa

tape — Thu, 07 Oct 2010 20:12:32 +0000

: Image by Africaincorp via Flickr

‘Ground-floor opportunity. ” For the decade ending Dec. 31, 2009, an African composite index made up of eight countries, including South Africa, Nigeria, and Egypt, returned about 14 percent annualized. South Africa alone returned an average of 13 percent per year over that period.

Investors who enter a new high-growth market first reap the highest returns over time.”

Low correlation. Correlation is a measure of how investments perform in relation to each other. . According to Seruma’s research, from January 2002 through June 2009, an African composite index of eight countries had a correlation of 0.59 with the S&P 500, 0.66 with the MSCI EAFE Index (which measures developed markets outside of North America), and 0.60 with the MSCI Emerging Markets Index.

Investors can use correlation statistics to find out how to better diversify their portfolios.”

Strong growth expected. “According to projections from the World Bank, nine of the 15 countries in the world with the highest rate of five-year economic growth are in Africa. ”

Profitable companies. There are a number of well-known companies that are based in Africa, including South African Breweries (a subsidiary of SABMiller) and telecom company MTN. Africa’s total stock market capitalization now exceeds $1 trillion.

Demand for commodities. “As the BRICs industrialize, they’re going to be demanding more and more of these commodities.”

Increasingly less violent. According to Freedom House, 63 percent of Africa’s population now lives in countries designated “free or partially free.” Compare that with Asia, which has a score of 66 percent.

China’s involvement in the region.Many Chinese companies—some of which are backed by the government—have made significant investments in Africa.

Infrastructure spending. Countries are beginning to stay and help make important infrastructure improvements in the continent

Low debt. Concerns about sovereign debt—the debt that governments owe—has made headlines in Europe. Countries like Greece, Portugal, and most recently, Ireland have seen their debt downgraded by ratings agencies like Standard & Poor’s. The United States also faces a huge budget deficit.

Growing investment from abroad. Africa is ahead of Brazil, India, and Russia. It’s second only to China.

Attractive valuations.The average price-to-earnings ratio for African companies is about 8 to 9 percent compared with the S&P 500, which has an average P/E ratio of about 15 or 16 percent.

Young demographics. Compared with other regions of the world, Africa has a much younger median age, which means African governments aren’t as burdened by elderly populations and pension plans. It could also mean that Africa has a young, vibrant workforce.

[Source ]

IBM Puts Its Money Where Its Mouth Is – Africa (readwriteweb.com)
An index of African governance: A rum old mix (economist.com)
Bob Geldof to front $750 million private equity Africa investment fund (annansi.com)
Wal-Mart plans Africa debut with $4.2 billion buy of S. Africa’s Massmart (annansi.com)

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