stock-markets

News

PPC Rolls Out Ownership Plan
[The Herald] Cement and lime manufacturer Portland Holdings Limited has successfully submitted its indigenisation plan in which the company ownership will be spread among the employees, the community and strategic partners. Apart from the workers and the community of the Bulawayo-based firm, one of the beneficiaries of changes in ownership structure is prominent lawyer and Zimra chairman Mr Sternford Moyo.
AllAfrica | 18-May-2012 11:49

Nigeria: SEC Signs MoU With Middle-East Counterparts
[Daily Trust] The 37th annual conference of the International Organisation of Securities Commissions (IOSCO) concluded yesterday with the signing of a Regional Memorandum of Understanding (MoU) by member-countries of the Africa/Middle East Regional Committee (AMERC) of the Organization.
AllAfrica | 18-May-2012 11:40

Nigeria: N44 Million Bribe Scandal - Hembe Arraigned, Refuses to Mount Dock
[Vanguard] Abuja - Trial of the former Chairman of the House of Representatives Committee on Capital Market and Other Institutions, Mr. Herman Hembe, kicked off on a dramatic note, yesterday, as the lawmaker declined to either mount the dock or enter his plea to a charge he said was grossly incompetent.
AllAfrica | 18-May-2012 10:24

Nigeria: Soludo - Political, Economic Instability Caused Capital Market Crash
[Daily Trust] Former governor of Central Bank of Nigeria, Chukwuma Charles Soludo, has said that the economic and political uncertainties in Nigeria were responsible for the "near collapse" of the Nigerian capital market.
AllAfrica | 17-May-2012 12:58

Nigeria: Banking Stocks Buoy Market Activities
[Daily Trust] Lagos - Activities in the banking sub-sector of the Nigerian Stock Exchange (NSE) boosted market performance yesterday after two days of downward trading.
AllAfrica | 17-May-2012 09:30

Country Signs MoU With Mauritius On Securities Co-operation
[Leadership] Nigeria's Securities and Exchange Commission (SEC) and the Financial Services Commission of Mauritius have signed a Memorandum of Understanding (MoU) to strengthen regulatory cooperation of both agencies.
AllAfrica | 17-May-2012 09:25

Kenya: CIC Gets Nod to List On Bourse
[Capital FM] Nairobi, Kenya - The CIC Insurance Group has been cleared by the Capital Markets Authority (CMA) to list by introduction on the Nairobi Securities Exchange (NSE).
AllAfrica | 17-May-2012 05:47

Kenya: EABL, Athi River Hit New All-Time Highs
[The Star] The big news today was the GOK's signing of a $600m two-year syndicated loan at an interest rate of 4.75 percent above dollar Libor. Kenya is rated B+ by Standard & Poor's and Fitch. The NSE20 rallied 8.44 points to close at 3637.08 which is a Fresh 2012 and 9+ Month Closing High The Nairobi All Share firmed 0.21 points to close at 79.19. Market Cap was 1.013944 Trillion versus 1.011162 Trillion. Equity turnover was 481.777m versus 186.459m. Athi River Mining closed at an all-time high for the 2nd Cons
AllAfrica | 16-May-2012 17:04

Delta Shares Net U.S.$3,5 Million
[The Herald] FIVE million Delta shares valued at US$3,5 million changed hands on the market, boosting yesterday's turnover as the main index gained marginally. The mainstream industrial index closed 0,25 percent firmer at 130,49 points as the resources index fell a further 0,61 percent to close at 84,68 points.
AllAfrica | 16-May-2012 13:56

Zimbabwe: No End in Sight to IPO Drought
[The Herald] IMARA Zimbabwe recently predicted a flurry of corporate restructuring in the country and foreign investors took a very keen interest in this development. Due to lack of funding in the economy, foreign investors with deep pockets need to start taking positions.
AllAfrica | 16-May-2012 13:08

Africa: Oteh Re-Elected Africa/Middle East Regional Committee Chair
[Daily Trust] Ms Arunma Oteh, the Director-General, Securities and Exchange Commission (SEC), was yesterday re-elected as the Chairperson of Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).
AllAfrica | 16-May-2012 11:08

Nigeria: Soludo - Stock Crashes Not Preventable
[This Day] Former Governor of Central Bank of Nigeria (CBN), Prof Chukwuma Soludo, Tuesday admonished Nigerians to stop crying over split milk in the aftermath of the global financial meltdown and its impact on the Nigeria capital market. Instead, he said stock market crashes could not be prevented, irrespective of the amount of 'reforms' or 'regulation' injected into it.
AllAfrica | 16-May-2012 10:01

Nigeria: Reviving the Abuja Securities and Commodity Exchange
[This Day] The conversion was premised on the need for an alternative institutional arrangement that would manage the effect of price fluctuations in the marketing of agricultural produce, which has adversely affected the earnings of farmers since the abolishment of commodity Boards in 1986.
AllAfrica | 16-May-2012 07:20

Nigeria: Margin Loans - NSE Seeks Waiver for Market Makers
[This Day] The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has said the recently appointed market makers be exempted from the rule limiting banks' lending to the capital market in form of margin loans to 10 per cent.
AllAfrica | 16-May-2012 07:07

Nigeria: Stock Market - Okereke-Onyiuke Backs Calls for Fund Injection
[This Day] Former Director-General of the Nigerian Stock Exchange (NSE), Mrs. Ndi Okereke-Onyiuke has supported calls for direct injection of funds into the nation's capital market as the best way forward for the market.
AllAfrica | 15-May-2012 19:18

Zimbabwe: Liquidity Squeeze On Stocks Persists
[The Herald] STOCKS opened the week on the backfoot, shedding a marginal 0,08 percent to finish at 130,17 points as the liquidity squeeze continues. Noticeable trades were only seen in Delta where a total of 3,1 million shares changed hands at US70c of which 2,5 million shares were a book over.
AllAfrica | 15-May-2012 15:33

Nigeria: Oteh Seeks Re-Election As Chairperson of Regional Securities Committee
[Daily Trust] Nigeria is seeking re-election as Chairperson of the Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).
AllAfrica | 15-May-2012 14:59

Nigeria: A Stuck Exchange
[Vanguard] Exchange by its accepted nature is a two way traffic with possible diversions. There is giving, there is taking. Where the Stock Exchange is involved, investors give their money in exchange for shares in organisations of their choice.
AllAfrica | 15-May-2012 12:15

East Africa: \Companies Prepare for Ugandan Market
[Focus] In the context of boosting local companies' trade within the East African Community, the Rwanda Development Board last week organized a training for entrepreneurs on how to do a successful market analysis to increase their competitiveness on the EAC market.
AllAfrica | 14-May-2012 17:43

Nigeria: 'Hell Hath No Fury Like a Woman Scorned'
[This Day] Ndi Okereke-Onyiuke loved her job as the director general of the Nigerian Stock Exchange. Having spent 27-odd years at the exchange, she had groomed and nurtured the institution into one of reckoning. Even as deputy director general, she was the brain and force behind Dr. Hayford Alile, her predecessor. At the height of her rein, she was undisputedly the most powerful woman in corporate Nigeria.
AllAfrica | 14-May-2012 14:44

Nigeria: Profit-Taking Drags Down Equities
[This Day] The Nigerian equities market failed to continue the positive run that started three weeks ago following massive drive by anxious investors to take profits and negative reports emanating from the House of Representatives Ad hoc Committee probing the near collapse of Nigerian capital market.
AllAfrica | 14-May-2012 14:44

Nigeria: NSE, SEC in Verbal Brawl As Capital Market Probe Continues
[Leadership] Edegbe Odemwingie in this report, details the highpoints of the ongoing House of Representatives inquest into the near collapse of Nigeria's capital market. Federal lawmakers hope the public hearing will restore back confidence in the ailing market.
AllAfrica | 14-May-2012 13:55

Nigeria: Capital Market Probe - I've Learnt My Lesson - Oteh
[Vanguard] Following the revelations of the principal officers of the Securities and Exchange Commission (SEC) and the deluge of questions by the ad hoc committee of the House of Representatives probing the near collapse of the Nigeria capital market on Wednesday, Director-General of the SEC, Ms. Arunma Oteh, has admitted that there was division and rancour within the rank and file of the commission, saying that she has learnt her lesson.
AllAfrica | 14-May-2012 13:39

Namibia: Anglo Leads NSX Trading Activity
[Namibian] TRADING on the Namibian Stock Exchange (NSX) reached N$43,5 million in 31 trades for the week ended May 11, with mining conglomerate Anglo American accounting for more than half of the weeks turnover, Simonis Storm Securities (SSS) said in its weekly bourse analysis.
AllAfrica | 14-May-2012 12:47

Nigeria: Non-Rendition of Accounts - NSE to Sanction Erring Stockbrokerage Firms
[Leadership] Following its determination to raise the stake of corporate governance in the stock market, The Nigerian Stock Exchange (NSE) has said with effect from Wednesday, this week, it will suspend Dealing Member Firms that are yet to render their Quarterly Returns for the Period Ended March 31 2012.
AllAfrica | 14-May-2012 12:41

Nigeria: Capital Market in the Eye of the Storm
[Leadership] It is no longer news that the ongoing capital market probe at the National Assembly was mooted to set out clear framework for sound regulatory platform that will lift the market out of the abyss where it is today and to prevent re-occurrence of the trends that crashed it.
AllAfrica | 14-May-2012 12:41

Nigeria: Investors Stake N19 Billion in 2.2 Billion Shares
[Leadership] Investors in the Nigerian Stock Exchange at the close of trading last week staked a turnover of 2.243 billion shares worth N19.359 billion in 28,053 deals, in contrast to a total of 2.449 billion shares valued at N20.742 billion exchanged the previous week in 16,960 deals.
AllAfrica | 14-May-2012 12:41

Nigeria: 'We Are Committed to Market Growth in Africa'
[This Day] The President and Chief Executive Officer, Hewlett Packard, Mrs. Meg Whitman, has said the company would not relent in its actions to increase the growth and market share of its products in the emerging markets across the globe. She particularly mentioned Nigeria, Kenya and South Africa.
AllAfrica | 14-May-2012 12:30

Nigeria: The Stock Market - Strategies for Recovery, Rebound and Practical Bailout Options
[Vanguard] The global financial meltdown which started from the US, in 2006 as a result of the glut in the mortgage industry, spread like a contagion to Europe, Asia, and then to the emerging markets in Africa, including Nigeria. That ill wind got to Nigeria in 2008 and no stock market was spared of the catastrophic meltdown, just like the Great market crash of 1929.
AllAfrica | 14-May-2012 12:24

Nigeria: War of the Ladies - Intrigues, Allegations and Counter Allegations Trail SEC
[Vanguard] If heaven knows no rage like a woman scorned, members of the House of Representatives' ad-hoc Committee probing the near collapse of the Nigerian Capital Market, saw first hand last week, the rage that can be displayed by big ladies who chose to go after one another's jugular. This was no ordinary rage.
AllAfrica | 14-May-2012 12:05

Tanzania: Dar Bourse Sees Trade Fall By 14 Percent
[Daily News] ACTIVITY levels at the Dar es Salaam bourse recorded a 14 per cent decline with a weekly turnover of only 247m/- compared to 287m/- of the previous period.
AllAfrica | 14-May-2012 07:03

Kenya: Uchumi Gains Further as it Hits a New Six Year High of Sh16
[The Star] The NSE20 firmed 9.90 points to close at 3599.33. The Nairobi All Share firmed 0.10 points to close at 78.46. Market Cap increased to 1.004577 trillion.
AllAfrica | 13-May-2012 07:46

Nigeria: Stock Market Sustains Downward Trend
[Leadership] Activities on the floor of the Nigerian Stock Exchange (NSE) yesterday maintained negative trajectory as losses in most blue chip companies further dipped market performance indices.
AllAfrica | 11-May-2012 09:11

Mozambique: British Companies Willing to Invest in Hydrocarbons
[AIM] London - Several British companies have expressed their willingness to finance two Mozambican government projects in the hydrocarbon area costed at about five billion US dollars.
AllAfrica | 10-May-2012 19:06

Kenya: EABL Dominates Trading As Bat Hits New High
[The Star] There is plenty going on at the Nairobi Securities Exchange. The Nairobi All Share closed unchanged at 78.09. The NSE20 eased back a further 13.25 points to close at 3585.93.
AllAfrica | 10-May-2012 18:33

Uganda: Water Companies Demand Levelled Tax Field
[Observer] Mineral water processors in the country want the government to create a levelled ground for taxation in the bottled water industry. They say it is unfair for some companies to pay their taxes while others evade or avoid them despite all bottled water having a similar value chain. Addressing a team from Uganda Manufacturers Association, Sumin Namaganda, Rwenzori Bottling Company Communications Officer said, "Everyone's got an obligation to pay tax but some companies don't." She said that while Rwenzori Bott
AllAfrica | 10-May-2012 16:31

Nigeria: Capital Market Probe - House Hearing Exposes Infighting At SEC
[This Day] The ongoing investigation into the near collapse of the Nigerian capital market by a House of Representatives ad hoc committee assumed a new dimension yesterday as the Director-General, Securities and Exchange Commission (SEC), Ms. Arunma Oteh, and members of her management committee openly disagreed on policies, programmes and actions of the regulatory agency.
AllAfrica | 10-May-2012 14:55

Angola: Trade Minister Defends Better Sanitation Conditions in Markets
[ANGOP] Benguela - The Trade Minister, Idalina Valente, considered on Wednesday in central Benguela province important better sanitation conditions of food to safeguard public health, creating interactive spaces in markets.
AllAfrica | 10-May-2012 14:31

Nigeria: Top Staff Tell Reps Hearing - Oteh Runs Solo Show At SEC
[Daily Trust] Senior officials of the Securities and Exchange Commission yesterday told a legislative hearing that their director general Arunma Oteh arbitrarily run the affairs of the commission since she came in two years ago.
AllAfrica | 10-May-2012 11:41

Nigeria: SEC Claims Ex NSE Boss Ndi-Okereke Lied to Panel
[Daily Trust] The Securities and Exchange Commission SEC has denied statements made by former Nigerian Stock Exchange Boss Professor Ndi-Okereke Onyuike to the House ad hoc committee investigating the near-collapse of the capital market.
AllAfrica | 10-May-2012 09:09

Nigeria: Okereke-Onyiuke Inflates Trading Platform Contract By U.S.$10 Million - SEC
[Daily Trust] The Securities and Exchange Commission has accused former Director-General of the Nigerian Stock Exchange Ndi Okereke - Onyiuke of inflating the contract for replacing the NSE trading platform by $10 million.
AllAfrica | 10-May-2012 07:46

Kenya: Ban On Kenolkobil Shares Trade Now Indefinite
[Capital FM] Nairobi, Kenya - A ban on trading of KenolKobil shares at the Nairobi Securities Exchange (NSE) has been extended indefinitely.
AllAfrica | 10-May-2012 05:37

Ghana: Tullow and Cal Bank Shareholders to Vote Electronically
[Ghanaian Chronicle] With the introduction of an Electronic Proxy Appointment by registrars COMPUTERSHARE, shareholders of Tullow Oil, Cal Bank and Stanchart can now vote electronically through an internet-based platform ahead of their Annual General Meetings.
AllAfrica | 10-May-2012 04:26

Real Opportunity in 'Predatory' Investment in Properties
[The Star] Last week we looked at how to speculate in property for gains. Now, there are other ways of profiting from property investments, which include buying at auctions of seized property.
AllAfrica | 09-May-2012 17:25

Kenya: Puma in Talks to Buy Kenolkobil, Shares Frozen
[The Star] KenolKobil shares have been suspended from trading on the Nairobi Stock Exchange indefinitely amid news the listed firm is to be bought by international oil trading and marketing firm Puma Energy.
AllAfrica | 09-May-2012 16:58

Nigeria: Stock Market Value Increases By N27 Billion
[This Day] The value of equities on the floor of the Nigerian Stock Exchange (NSE) Tuesday swelled by N27 billion or 0.37 per cent following strong performance by highly capitalised stocks.
AllAfrica | 09-May-2012 16:46