The Securities and Exchange Commission (SEC), has leveraged further investors’ confidence and mitigation of losses on the nation’s bourse with the inauguration of a National Investors Protection Fund (NIPF). The quasi investors’ insurance scheme worth, N5 billion, would serve as a buffer for compensating investors for pecuniary losses, liquidation, insolvency, bankruptcy or negligence of non-broker/dealer […]
Tag: market
Tanzania: DSE slows down for Xmas
The week-on-week turnover at the Dar es Salaam Stock Exchange (DSE) dropped by 67 per cent last week as investors shift their attention to the festive season. The turnover dropped to Sh12.7 billion during the week ending December 18, 2015 compared with Sh38.91 billion that was registered during the week ending December 11, 2015, market […]
Zambia: Economic Development Summary for 2015
During the past decade Zambia’s economy has shown impressive growth averaging above 7% per annum. Growth was driven by investments in the mining sector with spillover effects into construction, transport, communications, wholesale and retail. Growth was furthermore facilitated by favorable copper prices, underpinned by demand from China, and increasing trade with neighboring countries. Economic turmoil […]
Zimbabwe: Willdale returns to profitability on the back of volume increases and better cost management
Cost management initiatives undertaken during the year resulted in a 22 percent decline in average production costs. WILLDALE’s after tax profit for the year ended 30 September 2015 grew by 77% to $214 086 from a loss position of $931 011 in prior year and the group says it is now positioned to sustain profitability […]
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 […]
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 […]
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 […]
East Africa: EALA Urges Inclusive Investment Policies to prevent social unrest
The xenophobic violence currently taking place in South Africa could happen in East Africa if partner states don’t ensure inclusive policies to benefit citizens during the ongoing integration process, members of the East African Legislative Assembly (Eala) have warned. “South Africa is the most industrialised economy in Africa because of high investment levels but why […]
Egypt: Bourse Continues Gains for 2nd Day
The Egyptian Exchange (EGX) closed on Thursday with gains for the second day backed by share purchases by local and foreign investors. The market capital achieved gains worth EGP 3.4 billion to reach EGP 507.2 billion, after transactions hit EGP 546.1 million. The EGX 30 benchmark index soared 1.18 percent to close at 8,731.29 points. […]