African Stock (Securities) Exchanges Live
Africa is, without doubt, a region of immense economic potential only hindered by unstable political regimes, weak public institutions, and lackluster policy enactments. However, recent years have seen big strides in these areas making for a positive outlook for the continent. After experiencing its slowest growth in a period of over two decades in 2016, the African economy is set to rebound at an accelerated pace on the back of significant improvements in monetary policies and increased investments in infrastructure. Issuance of sovereign bonds from several countries on international capital markets further attests to the global positive sentiment toward the region. In line with this development, this platform attempts to make easily accessible relevant information on publicly traded companies across the various African stock exchanges to help investors identify the best line of approach to enter the market.
|BRVM-CI Index||Year-to-Date||Market Cap.|
|155.09 (+0.59)||-17.15 (9.96%)||XOF 4.62Tr|
The Bourse Régionale des Valeurs Mobilières (BRVM) is the regional stock exchange of the member states of the West African Economic and Monetary Union, namely, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The Exchange is located in Abidjan but maintains market offices in each of the affiliated countries. Being both an economic and political institution, the BRVM is governed by the provisions of the OHADA Uniform Act relating to Commercial Companies and Economic Interest Groups. The operations of the Exchange are entirely digital making it a technical success story on the continent. Dealing members therefore need not be present on the premises of the central office but can engage from their own offices which the bourse guarantees equal access regardless of the economic operator's location.
|GSE-CI Index||Year-to-Date||Market Cap.|
|2,328.79 (-1.46)||-243.43 (9.46%)||GHS 58.06Bn|
The Ghana Stock Exchange (GSE), incorporated in 1989, is the sole secondary capital market in the country. It is governed by a nine-member council consisting of independent members and representatives from dealing members and listed companies. The GSE also operates the Ghana Alternative Market which is aimed at small and medium-sized enterprises. Since its inception, the GSE has undergone several reforms to improve liquidity, enhance efficiency, and attract more investors. The Foreign Exchange Act of 2006 (Act 723), for example, eliminated regulatory limits that affected foreign and non-resident investors allowing free foreign exchange remitability for the original capital plus all capital gains and related earnings, however, subject to an 8% withholding tax which is also the final tax on dividends. This tax applies to all investors, both resident and non-resident. Capital gains on listed securities are, however, exempt from tax.
|NASI Index||Year-to-Date||Market Cap.|
|149.25 (-0.55)||+8.82 (6.28%)||KES 2.25Tr|
The Nairobi Securities Exchange (NSE), which was constituted in 1954 as a voluntary association of stockbrokers and registered under the Societies Act, is today a leading African Exchange. The Exchange is based in Nairobi, the capital of Kenya, and has had a pivotal role in the process of economic development in the country. Dealing in both fixed and variable income securities, the NSE has triggered the reallocation of financial resources from dormant to active agents, helping local and international companies access cost-effective capital. Being innovative and diverse, the Exchange has become partners with several international organizations. The NSE is a member of the World Federation of Exchange, and a founding member of the African Securities Exchanges Association and the East African Securities Exchanges Association. The NSE is also a member of the Association of Futures Market and a partner exchange in the UN-led SSE initiative.
|NSE-ASI Index||Year-to-Date||Market Cap.|
|27,864.49 (-178.31)||-3,566.01 (11.35%)||NGN 13.59Tr|
The Nigerian Stock Exchange (NSE) was founded on September 15, 1960 and commenced trading in June the following year. It is regulated by the Securities and Exchange Commission of Nigeria and licensed under the Investments and Securities Act. Originally named Lagos Stock Exchange, it was renamed to its current name in 1977. Since then, the NSE has seen significant growth. In fact, the benchmark NSE All-Share Index, which was launched in 1984 with a base value of 100, had crossed the 1000-point mark by September 1992, ultimately reaching a peak of 66,371.20 in March 2008. Adopting best practices in corporate governance, the NSE is recognized by several international and regional organizations. The Exchange is a founding member of the African Securities Exchanges Association and also a member of International Organization of Securities Commissions, World Federation of Exchanges, and Sustainable Stock Exchanges Initiative.
|ZSE-ASI Index||Year-to-Date||Market Cap.|
|191.72 (-0.11)||+45.48 (31.1%)||USD 23.61Bn|
History of the Zimbabwe Stock Exchange (ZSE) dates back to 1896 when Cecil Rhodes founded the first exchange in Bulawayo. However, the ZSE's true antecedent is the one founded in 1946 by Alfred Mulock Bentley; and after the Zimbabwe Stock Exchange Act was passed into law in 1976, the modern-day ZSE came into being. In 1993, certain regulations were repealed to allow foreign participation on the exchange though limited by a maximum holding of 15% individually or 49% collectively in any listed company. Today, the ZSE operates under the oversight of the Securities and Exchange Commission of Zimbabwe (SECZ) which in 2009 established an investor protection fund to provide compensation to whoever suffers losses as a direct consequence of malpractice on the part of a market player or in the event of insolvency. The SECZ, as a statutory body, also determines the level of capitalization required for members of the Exchange.