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.|
|215.41 (-1.28)||-27.65 (11.38%)||XOF 6.06Tr|
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.|
|2,942.14 (+8.25)||+362.42 (14.05%)||GHS 56.09Bn|
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.|
|173.14 (+0.92)||+1.94 (1.13%)||KES 2.70Tr|
The Nairobi Securities Exchange (NSE) is the leading securities exchange in East Africa. It was constituted in 1954 as a voluntary association of stockbrokers registered under the Societies Act. In 2008, the NSE All Share Index (NASI) was introduced as a market capitalization weighted index consisting of all the securities on the exchange, with a base value of 100 as of January 2008. Its attention and measure is therefore on the overall market capitalization rather than the price movements of select counters, effectively making it the benchmark index for the Kenyan stock market. The NSE is a member of the African Securities Exchanges Association and East African Securities Exchanges Association; also an affiliate member of the World Federation of Exchanges.
|NSE-ASI Index||Year-to-Date||Market Cap.|
|36,470.05 (-278.13)||-1,773.14 (4.64%)||NGN 13.22Tr|
The Nigerian Stock Exchange (NSE), founded in 1960 as the Lagos Stock Exchange, services the largest economy in Africa. It provides access to capital for Nigerian and international companies that take advantage of the capital market to fund their strategic business expansion. A registered company limited by guarantee, the NSE is regulated by the Securities and Exchange Commission of Nigeria and licensed under the Investments and Securities Act. All listings are included in the NSE All-Share Index, which was formulated in January 1984 with a base value of 100. Only ordinary shares are included in the computation of this index. The NSE is a founding member of the African Securities Exchanges Association and also a foundation member of the World Economic Forum.
|ZSE-ASI Index||Year-to-Date||Market Cap.|
|114.15 (+2.19)||+16.30 (16.66%)||USD 10.94Bn|
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.