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 […]
Category: Markets
Nigeria: Shareholders Laud Suspension of BGL AML, Subsidiaries By SEC
Capital market shareholders have lauded the Securities and Exchange Commission (SEC) decision to suspend BGL Asset Management Limited (AML) and its subsidiaries from capital market activities, saying the development is a indications that the new regime would operate with zero tolerance to market infractions. SEC, at its meeting held on May 19, 2015 considered the […]
Egypt: Investment Minister – Petrochemicals Project in Gulf of Suez With U.S. $7.5 Billion Investments
Minister of Investment Ashraf Salman met with representatives of the US imports and exports bank, representatives of the Korean imports and exports bank and a number of US, Italian and Korean financial institutions, where they discussed establishment of a petrochemicals project in the Northwest Gulf of Suez with an investment cost reaching USD 7.5 billion. […]
Nigeria: Large cap stocks Dangote, Transcorp, Seplat see large drops in profit
Some key quoted companies at the Nigerian Stocks Exchange have recorded huge loss in their operations but the banking sector has performed well during the first quarter,2015 Daily Trust finding revealed. Data from Reuters revealed that as at the end of the quarter, Dangote Sugar’s first quarter pretax profit dropped from 51.9 percent to N3.79 […]
Nigeria: Profit taking weakens momentum as NSE Index drops 0.16%
Despite the positive close it had in the previous trading session last Thursday, equities market resumed on a bearish note on Monday as investors traded cautiously. Key market indicators, the All-Share Index and Market Capitalisation, declined by 0.16 per cent each. The loss can be attributed to profit-taking actions seen in some large-cap counters such […]
Australian online company invests $10M Investment in One Africa Media, owner of Cheki & Jobberman
Australian based online employment marketplace, Seek announced its USD 10 million (Sh900 million) investment into One African Media (OAM). This investment is part of USD 20 million that OAM shared with Babajob.com, its first investment in the Indian market, which Seek diluted 38 per cent of the equity interest. OAM owns BrighterMonday, Cheki.com, BuyRent and […]
Price drop in Rwanda’s most active stocks BK, Bralirwa drags Shares index down
The Rwanda Stock Exchange (RSE) shed 1.49 points on its share index during the week, mainly due to the drop in Bank of Kigali (BK) and Bralirwa’s share prices, yesterday’s market report indicates. BK’s share price dropped from Rwf 296 last Monday to Rwf 295 yesterday while Bralirwa’s dropped from Rwf 374 a share last […]
Tanzania: Shilling Depreciation leads to 40% drop in volumes at Dar bourse
THE shilling depreciation has favoured foreign investors’ participation on Dar es Salaam Stock Exchange (DSE), who are buying more shares as their involvement has increased by 91.35 per cent in the first quarter. The shilling in this year’s first four months sunk to its lowest level in history since the local currency was introduced in […]
Nigerian Gas Tycoon : Govt Losing U.S.$55 Billion Investments Over Low Gas Price
President of the Nigerian Gas Association, NGA, and Managing Director, Oando Gas & Power Limited, Mr. Bolaji Osunsanya, yesterday, called on the Federal Government to increase the prices of gas, stating that the country is losing an estimated $55 billion, about N11 trillion worth of investment due to its refusal to hike gas prices. Speaking […]
Nigeria: Assets Custodians woo Foreign Investors to Financial Markets with automation and adoption of SWIFT
Leveraging reforms in the nation’s financial markets as well as proposed innovations that would bolster accountability and governance, the Association of Assets Custodians of Nigeria (AACN) has expressed optimism of foreign investors renewing their stakes in nation’s economy. Preparatory to its fourth yearly investor conference, scheduled for the 7th of May, 2015, in London, the […]
