Omegascorpi [Beta] » African markets http://omegascorpi.com Company Profiles,Interviews,News and Beyond Fri, 20 Jan 2012 21:44:00 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Lagos Market Closing Analysis http://omegascorpi.com/2009/lagos-market-closing-analysis/ http://omegascorpi.com/2009/lagos-market-closing-analysis/#comments Wed, 16 Sep 2009 18:56:28 +0000 tape http://omegascorpi.com/?p=222 September 14th 2009

]]> http://omegascorpi.com/2009/lagos-market-closing-analysis/feed/ 0 Firing Of The Heads Of Intercontinental, Oceanic, Finbank, Afribank, and Union Banks http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/ http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/#comments Sat, 22 Aug 2009 15:22:09 +0000 tape http://omegascorpi.com/?p=209 1. NSE suspended trading the five bank’s shares. The decision will be reviewed in 2 weeks.
2. According to Renaissance Capital, these banks were systematically important with more than 5% of assets and deposits in the Nigerian banking system.
3. Guardian reported on Monday that 8 foreign investors were ready to take control of the 5 banks.
4. The CBN’s audit of all banks should completed by mid-September. 5 other banks passed the audit, according to Renaissance Capital. They include First Bank of Nigeria Plc, the nation’s largest lender, Diamond Bank Plc, Guaranty Trust Bank Plc, Sterling Bank Plc and United Bank for Africa Plc.
5. 14 banks are yet to be audited.
6. According to Tunde Lemo, CBN’s deputy governor, the fired executives may face prosecution.
7. ThisDay newspaper reported that the CBN may end up injecting up to N1trillion into these banks.
8. Renaissance Capital upgraded its recommendation on Zenith Bank Plc to “buy” from “hold” and suspended ratings on three other lenders that failed a central bank audit. Ratings were suspended on Intercontinental Bank Plc, Union Bank of Nigeria Plc and Oceanic Bank Plc.
9. CBN said it will guarantee the foreign loans of the 5 banks. Officials from CBN will visit London soon to “explain its actions and dialogue with investors and foreign correspondent banks.
10. Zenith, along with First Bank, Access Bank Nigeria Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc are RenCap’s top picks because they “show up well” in terms of the central bank’s requirements of transparency and liquidity, Lagos-based RenCap analyst Kato Mukuru wrote in the note.

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]]> http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/feed/ 0 Mauritius Stock Exchange to Be Listed on Dow Jones http://omegascorpi.com/2008/mauritius-stock-exchange-to-be-listed-on-dow-jones/ http://omegascorpi.com/2008/mauritius-stock-exchange-to-be-listed-on-dow-jones/#comments Tue, 12 Aug 2008 11:56:33 +0000 tape http://africaincorp.net/cms/sub/wp6/?p=36 Port-Louis-

The Mauritius stock exchange will join the Dow Jones Wilshire Global Index on 1st October.

This decision was taken by Dow Jones Indexes and Wilshire Associates which are, respectively, the world’s leading index follower and investment services entity.[Les Afriques]

The Mauritius Stock Exchange joins the South African Stock Exchange,The Moroccan Stock Exchange and Cairo Stock Exchange.

]]> http://omegascorpi.com/2008/mauritius-stock-exchange-to-be-listed-on-dow-jones/feed/ 0 The economy,Economic agents and Ownership http://omegascorpi.com/2008/the-economyeconomic-agents-and-ownership/ http://omegascorpi.com/2008/the-economyeconomic-agents-and-ownership/#comments Mon, 04 Aug 2008 21:55:19 +0000 tape http://africaincorp.net/cms/sub/wp6/?p=33 A judicious report by the MyAfrica site should wake up even more the middle and upper class of Africa to the notions of Wealth,Ownership and Patrimony.
The author of the post states that:
“If Kenya were a cake to be shared out,Kenyans would only lay claim to 31 per cent of the country’s total wealth. The rest would go to foreigners. Agriculture,tourism and banking,which combined bring in the country’s largest earnings,are in foreign hands. Last year,tea,tourism,flowers and coffee earned the country Sh140 billion,nearly half of the annual national budget. Of this money,only 31 per cent ended up in the country – as tax and real earnings to the nationals. And shareholding in the richest 20 companies that trade at the Nairobi Stock Exchange is foreign. The skewed distribution of wealth between foreigners and Kenyans puts paid to all efforts since independence to hand control of the country to its citizens.”
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That are many methods that African both at home and abroad could as individual investors as well as institutional investors turn the wheel around. We should go trough the different options that are widely known but not necessarily practised by enough individual investors.
That are many investment division at banks,investment funds,online brokerage firms for the individual investor to get involve in the African stock market.
For now we at Africaincorp have opened an account with an online brokerage firm to get ourselves in involved in the African financial market.
In the posts to come we will be happy to share on our portfolio,our strategy as well as the different banks,investment funds and other intermediaries the individual investor may use.

Fax/E-mail/Skype your local African banks:
Bank of Africa
Versus Bank
Cobaci
Attijariwaffa Bank
Ecobank
Commercial Bank of Ethiopia
Banque Atlantique
Societe Generale des banques en Cote D’Ivoire
Mauritius Commercial Bank
Kenya Commercial Bank

If you have done so already,please share with us your experiences and insight on taking ownership of our economy, through the use of real estate,securities and bonds investments in the African markets.

]]> http://omegascorpi.com/2008/the-economyeconomic-agents-and-ownership/feed/ 0 JPMorgan chases revenue in African markets http://omegascorpi.com/2008/jpmorgan-chases-revenue-in-african-markets/ http://omegascorpi.com/2008/jpmorgan-chases-revenue-in-african-markets/#comments Tue, 03 Jun 2008 00:19:23 +0000 tape http://africaincorp.net/cms/sub/wp6/?p=26 New York-
JPMorgan chases revenue in African markets
JP Morgan Asset Management, a division of JP Morgan Chase [Nyse:JPM ] is highly interested in the financial markets and products of the following viable and rewarding markets, Egypt,Nigeria,South Africa, Tanzania,Zambia,Ghana,Kenya and Botswana.
The leader in global financial service[1.6 trillion USD in assets] raised a total of 250 million USD that will fund their entry in these very profitable but still foreign markets(to them).

Political and other social hiccups in Africa do not seem to be much deterrents to them, they are said not not to cares so much about what is happening politically as long as companies have good foundation as businesses. [BDAfrica]

Editor’s note: The BRVM should have been included on their list,maybe it is  because Ivory Coast is a francophone economy. Notice that all the above countries listed are English-speaking nations or have English as a official or unofficial 2nd language.

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