The Markets | - Part 139

Stocks in Economy With Best Growth Forecast Lead the World

ACCRA (Capital Markets in Africa) – The World Bank’s optimism about prospects for Ghana’s economy has proved a tonic for Accra-traded stocks: the country’s benchmark index sits atop the world as January draws to a close. The Ghana Stock Exchange Composite Index has gained 19 percent since the year began in dollar terms, the most among benchmarks tracked by Bloomberg. “We can’t discount the sentiment factor, the optimism in the market in terms of Ghana…

Steinhoff Refers Ex-CEO to Police on Suspicion of Corruption

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV reported former Chief Executive Officer Markus Jooste to South Africa’s anti-graft police, pinning the blame for an accounting scandal squarely on the man who built the retailer into a global force. The owner of Mattress Firm in the U.S. and Conforama in France referred Jooste to the unit known as the Hawks on Tuesday based on its investigation into financial irregularities, acting Chairman Heather Sonn told lawmakers in Cape…

Africa’s Newest Gold Miner Starts Output and Sees Potential IPO

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Toro Gold Ltd. became Africa’s newest gold producer last week when it delivered its first batch of bullion, and the privately held firm is now weighing the possibility of selling shares this year. The company, which achieved the unusual feat of building a bullion mine without tapping public markets for funding, expects to produce about 135,000 ounces of the metal a year from the Mako project in Senegal. The mine…

Foreigners Pile Into Nigerian Stocks, New York ETF as Oil Climbs

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s stocks have been among the world’s best-performers in the past four months, and foreign investors are a big reason for that. Net foreign inflows to Nigerian equities totalled 337 billion naira ($940 million) last year, the first time flows have been positive since at least 2013. December was the best month since Bloomberg started compiling data at the beginning of 2014, with net inflows of 140 billion naira,…

Banks Lead Declines as South African Stocks Fall Most in 7 Weeks

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – FTSE/JSE Africa All Share Index closes 1.4% lower on Monday, biggest decline since Dec. 6. “The rand is weaker — a little bit of the excitement and positivity of Cyril Ramaphosa in Davos is waning,” Michele Santangelo, a money manager at Independent Securities, says by phone. “A lot of stocks that have had huge runs that are coming off, particularly in the financial sector, had a great start to the…

Crypto Victims Flush Away Cash on Deal That’s More UTI Than ICO

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Lithuanian startup Prodeum set out to raise as much as 5,400 Ether (about $6.5 million) in an initial coin offering, ostensibly to revolutionize the agriculture industry and put fruit on the blockchain. That’s not the strange part. Tracking produce could actually be a good use for the technology, and some legit firms are already doing it, so investors can be forgiven for signing up. But then there’s the name. “Prodeum” is spelled almost…

West Africa’s Stock Exchange Expects Regional Bank IPO in 2018

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – The IPO will be one of two initial public offerings expected this year on West Africa’s Bourse Regionale des Valeurs Mobilieres, known as BRVM, Edoh Kossi Amenounve says in an interview. Other IPO “should be Societe des Telecommunications du Mali” Average profitability growth of BRVM’s stocks seen rising to 6.5%-7% in 2018 after 5% in 2017 2017 profitability dropped after declining in capital gains BRVM to launch the online…

« 1 … 137 138 139 140 141 … 253 »