Lagos — The Nigerian Stock Exchange (NSE), Friday, said the new rule on par value is not yet effective. The exchange, in a bulletin issued by Tinuade Awe, the head of legal and regulation division, titled: “The effective date of SEC approved rules”, said that a date when the approved rule of the exchange will […]
Category: Markets
Nigeria: Oando Lists $245m right issue
Lagos — Oando Plc has listed N48.7 billion worth of shares on the daily official list of the Nigerian Stock Exchange (NSE). In an issuer’s announcement with the NSE, Oando said: “A total of 2,949,933,156 ordinary shares of 50 kobo each at N16.50 per share belonging to Oando Plc were admitted to trading on 4th […]
Tanzania: Volumes are continuing to rise, exceeding $25m
Activity in twelve equities at the Dar es Salaam Stock Exchange (DSE) resulted into over 10 times increase in turnover of 60.38bn/-compared to 7.20bn/- posted in the previous session. During the week, the Tanzania Breweries Company Limited (TBL) dominated the bourse in terms of turnover and number of shares transacted. The counter traded 3,974,450 shares […]
Rwanda: Bralirwa approve unchanged Dividends despite drop in profits
Shareholders of Rwanda Stock Exchange-listed beverages manufacturer, Bralirwa, have approved a Rwf7.5 dividend payout per share for 2014, unchanged compared to 2013, a statement from the firm indicates. The dividend is same as what. The shareholders okayed the payout during the annual general meeting on May 27 in Kigali. This will translate into a Rwf7.7 […]
South African rand (ZAR) stabilises after bad start to the year
South Africa’s rand drifted in a narrow range versus the dollar in the absence of significant drivers on Tuesday, with traders and investors looking to mining and factory output data on Thursday for pointers on the state of the local economy. The rand has fallen nearly 8 percent against the dollar this year, because investors […]
Nigeria: Skye Bank’s acquisition of Mainstreet Bank successful with profits rising to $30m over 3 months
Skye Bank’s acquisition of Mainstreet Bank is beginning to yield appreciable results as the consolidated result for the first quarter ending March 31, 2015 submitted to the Nigerian Stock Exchange (NSE) shows a significant rise in earnings and profits, thus justifying management’s strategic decision of an acquisition that had led to a bigger bank. The […]
Tanzania: Vodacom Plans to Invest Over 200 Billion/ – in 2015
VODACOM Tanzania plans to invest over 200bn/- in the next financial year, the firm’s chief executive officer, Mr Rene Meza, told a news conference in Dar es Salaam yesterday. Presenting the telecom firm’s business update for the 2014/2015, Mr Meza said the firm had a pleasant financial year, with the customer base swelling to 12 […]
Zimplow’s turnover increase by 5% in Q1
“Deliveries to certain markets have been delayed while the Zambian market was affected by the weakening Kwacha”. ZIMPLOW Holding’s turnover for the quarter to March 2015 rose by five percent while profitability is still subdued because of a downturn at Mealie Brand. This is despite the company securing a number of good export contracts for […]
Nigeria: Elections Over, Stock Market Investors Recover N1.06 Trillion
Lagos — With the general elections over, producing an eventual winner in General Muhammadu Buhari as President-elect, set to replace incumbent Dr. Goodluck Jonathan, confidence may have gradually started returning to the nation’s capital market, judging by data from the Nigerian Stock Exchange (NSE), as seen in the robust recovery in its basic indicators for […]
Nigeria: FMDQ Facilitates N33 Trillion Investment in Fixed Income Securities
Efforts by FMDQ OTC Plc to reposition the fixed income securities and currency market continued to yield more results as the platform facilitated trading of securities worth N32.761 trillion in the first quarter (Q1) of 2015. This level of turnover is about 25 per cent higher than the quarterly average recorded in 2014. The platform […]