AFRICANEXCHANGES
ISSUE 02 2015
The Quarterly Newsletter of the African Securities Exchanges
Association
The Johannesburg Stock Exchange (JSE) and the African Securities Exchanges Association (ASEA) proudly announce
the 4th annual Building African Financial Markets (BAFM) Capacity Building Seminar from 16 (arrival and cocktai l
event) to 18 September 2015 at the JSE.
Click here for more information on the seminar.
Click here to register
BACKGROUND OF THE BUILDING AFRICAN FINANCIAL MARKETS (BAFM) CAPACITY BUILDING SEMINAR
The aim of BAFM is to promote growth in African financial markets by giving representatives from stock exchanges,
regulatory bodies, stockbroking firms and other interested parties the opportunity to learn about topical subjects in the
area of capital markets.
The seminar will take place at the Johannesburg Stock Exchange (JSE) from Thursday, 17th September to Friday 18th
September 2015, and will include a market opening ceremony, followed by series of focused learning sessions, panel
discussions and workshops on key topics.
There will be a cocktail event to allow for networking on Wednesday, 16th September 2015.
While there is formal capital market activity in a range of countries across the continent, the potential for development of
financial markets is undeniable: of the 24 countries belonging to the African Securities Exchanges Association (ASEA), only
four have qualified for membership of the World Federation of Exchanges (WFE). Membership of the WFE is often a pre-
cursor to asset managers looking at a market.
This event has the potential to enhance African exchanges’ influence on the world stage by granting market players the
opportunity to gain knowledge about the financial topics most relevant to their development. Invited representatives
include delegates from ASEA, financial regulatory bodies, stockbroking firms and other interested stakeholders.
Welcome Note
In this Edition of the ASEA Newsletter we have an opinion piece on sovereign bonds in Africa from the ABC Group, and then we have an introduction to one of our newest Observer Members, SWIFT.
We also have a review of the East African Markets Q1 performance from Ghengis Capital.
As usual there is a lot of Member News and the Member Statistics for January to April 2015.
Your feedback is valued, so please write to us on any features that you would like to see covered.
Enjoy your reading.
CONTENTS
Article
SWIFT in Africa
Markets Review
Member News
3
4
5
9
ASEA Secretariat Member Statistics 18
EDITOR:
Fanon Mwenda
ASEA Secretariat
PUBLISHED BY:
African Securities Exchanges Association
Exchange Building, 55 Westlands Road
P.O. Box 43633 - 00100 Nairobi Website: www.african-exchanges.org
Tel: + 254 20 2831000 Email: [email protected]
2
AFRICA’S DEEPER BOND
Ghana’s foray into the sovereign bond
market in 2007 was an intrepid step for
Africa’s emerging economies.
The $750-million issuance made Ghana
the first Sub-Saharan country outside of
South Africa to receive sovereign credit.
This was the culmination of deliberate
government reforms to court the
interest of international investors.
Ghana, already one of Africa’s most
stable democracies, quickly transformed
its economic prospects by slashing
external debt and narrowing its fiscal
deficit to less than 3 percent. It utilized
political stability and sound
macroeconomic behavior to join global
capital markets and reject cheap foreign
aid.
What Ghana also achieved through its
reforms was create an effective nation
brand with a strong and positive image.
Fiscal restraint and effective monetary
policies help countries earn a strong
credit rating, and that is good for their
global reputation. Getting a strong rat-
ing can be a quick ticket to improving a
nation brand. High credit rating, good reputation
African countries that have made the
greatest strides in polishing their global
image have been the ones with the best
reputations among investors. As
expected, countries that have a good
investment profile tend to have more
developed bond markets.
Studies have established a strong
correlation between low public sector
corruption and a high credit rating.
Botswana, for example, has Africa’s
highest Corruption Perceptions Index
and its highest credit rating.
Consequently, there is also a negative
association between corruption and
bond market development.
A strong rating does not just serve the
country, it is also good for the
reputation of its companies.
A company cannot obtain a higher credit
rating than its host country. So in markets
that have poor credit ratings or none at
all, companies with limited options
within their own borders will struggle
attracting investment beyond them.
Access to Pr ivate Bond Markets
Fewer than half of countries in Sub-
Saharan Africa have been assigned a credit
rating by any of the six rating agencies.
Only two – South Africa and Botswana –
are considered investment grade. But in
recent years African bond markets have
become more prominent, despite being
under-developed.
The $12 billion of bonds sold by African
governments last year broke the record of
$10.9 billion set in 2013. These long- term
needs are critical to fund an enormous
roster of infrastructure projects.
The growth of corporate bonds relative to
government securities suggests that
corporate bonds could one day become
an important source of finance, especially
for Sub-Saharan African economies.
Ghana Under Caution
Eight years since its first bond, Ghana finds
itself in financial hot water. Economic
growth has stagnated, inflation has surged
and its budgetary deficit is back to almost
10 percent. Its once venerable B+ credit
rating has sunk to a lowly B-.
With interest rates for a new bond issuance
rising, Ghana spurned the capital markets
in favor of a $940 million loan from the
IMF in February.
The rescue package, though, will not save
the country from its fiscal troubles. The
IMF attached ambitious fiscal consolidation
targets that are unlikely to be met,
according to Fitch Ratings, and that will
put even more downward pressure on
Ghana’s sovereign rating.
3
ARTICLE
As the US continues keeping the
federal funds rate at close to zero,
Ghana could take advantage.
But the collapse of the Cedi and a
stronger dollar makes borrowing
costs even more prohibitive.
What is instructive about Ghana’s
case is how it quickly abandoned
the sensible economic practices that
led to the initial bond issuance in
the first place.
With a weak oil price as Ghana
plans another Eurobond issuance
this year, it remains to be seen
whether monetary tightening will
be enough for the country to fully
repay its debts.
Trade, Not Aid
The reliance on bond markets
reduces dependence on cheap aid
and will help countries reduce
poverty at their own pace.
Turning to bond markets will enable
countries to develop domestic bond
markets of their own and grow their
economies.
Minimum GDP growth of 7 percent
is required to double per capita in-
come in one generation and make
meaningful reductions in poverty.
Maintaining this strong performance
will require about $20 billion in
infrastructure investment per year,
according to the African
Development Bank‘s Financial
Markets Initiative. This investment
can only be sustainably financed
through long term 10-year bonds.
This article is part of the Content
from the Connect Africa series from
Afr ica Branding Corporation (ABC),
a communications and marketing
specialist offering custom branding
solutions for African organizations.
To find out how ABC makes African
brands stronger, and to sign up for
feature articles like this, visit:
www.africabranding.com
SWIFT IN AFRICA
By Ian Bessarabia, Head of Sub Sahara
Africa, SWIFT
to become less vulnerable to falls in
commodity prices. Recent figures show
that six of the top 10 countries
implementing changes make it easier to
do business are from Africa (including
Benin, Cote d’Ivoire and the Democratic
Republic of Congo).
SWIFT data reflects these trends and
shows that our business in Africa has
outperformed the total growth of the
SWIFT business globally. In the year to
date, African payment traffic volumes
grew by 13.2% versus 8.8% growth for
SWIFT worldwide, highlighting the
sustainable growth in the region. Africa in
fact was the fastest growing region for
payments traffic, surpassing the Americas
at 12.1% and Asia-Pacific at 12.6%
growth.
SWIFT is growing alongside as Africa
develops. SWIFT’s sub-Saharan Africa
business, with its head office in
Johannesburg, was established more than
30 years ago. In that time, Africa’s
economies have changed beyond
recognition and there is a growing need
for SWIFT to expand to meet new client
expectations and business opportunities.
We are therefore opening two new
offices in 2015 – the first in Nairobi,
Kenya and the second in Accra, Ghana –
as a crucial part of our pan-Africa growth
plans.
From these offices, SWIFT will manage
an expanded presence across the West
and East Africa regions.
Payments remain a major focus for our
business, with many projects moving
ahead including the SADC regional
payment system, SIRESS, as well as the
West African Monetary Zone and the
East African Payment System. These are
important developments, helping to
make the intra-regional payments space
more competitive, opening the way for
new products and services to be offered
by participating financial institutions and
reducing the need for foreign financial
intermediation. But SWIFT is more than a
payments platform. Securities markets are
an increasingly important area.
4
Outside a handful of countries such
as South Africa, Nigeria and Kenya,
most national securities markets are
at a relatively early stage of
development. There is huge
potential to unlock greater local
and intra-regional investment
through the use of standardised and
harmonised financial market
infrastructure. SWIFT can play a
critical supporting role here.
Building a solid and sustainable
foundation on which securities
markets can operate is critical to the
success of these respective markets
in Africa. Trust, security and
reliability are three fundamental
components to boosting investor
confidence and reducing
operational risk. SWIFT is known
globally as a trusted third party and
we pride ourselves on the high
level of security and reliability we
set ourselves.
With the right financial
infrastructure in place and through
industry collaboration, Africa has a
great opportunity to improve the
liquidity and efficiency of its
capital markets, leading to cheaper
equity funding and greater risk
sharing for the continent’s
expanding corporates.
Robust and efficient securities
markets will continue to support
foreign investment but also en-
courage higher levels of intra-
African investment. This is good for
companies and investors. For
several years now, the African
region has outpaced SWIFT’s global
business in terms of traffic volume
growth and there remains huge
potential to be unlocked. We are
excited to participate in Africa’s
vibrant future, supporting local
institutions as they grow and
expand, and increasing the African
region’s contribution to our own
organisation’s growth.
Founded more than 40 years ago to
support the global financial industry,
SWIFT is a member-owned cooperative
that provides the communications plat-
form, products and services to connect
almost 11,000 financial institutions and
corporations in more than 200 countries
and territories.
SWIFT enables its users to exchange
automated, standardised financial
information securely and reliably, thereby
lowering costs, reducing operational risk
and eliminating operational inefficiencies.
SWIFT also brings the financial
community together to work
collaboratively to shape market practice,
define standards and debate issues of
mutual interest.
In Africa, we are honoured to be a part
of the fabric for the continent’s financial
services. Already, there are 21 high value
payment systems (17 in sub-Sahara
Africa), nine stock exchanges and central
securities depositories, and five regional
payment systems based on SWIFT.
And we see plenty of room for further
growth and development. Many of the
fastest growing economies in the world
are in Africa and economic growth in
the sub-Saharan region is expected to
rise from 3.9% in 2014 to 4.5% in 2015
and 5% in 2016, according to the
African Economic Outlook organisation.
Crucially, growth is coming increasingly
from within Africa, helping the
continent to become more resilient and
MARKETS REVIEW
EAST AFRICA MARKETS REVIEW Q1-2015
By Kevin Tuitoek, Reasearch Analyst, Genghis Capital
Kakuzi and Sasini Ltd largely benefitted from an illiquidity
premium whereby contracted supply with heightened
demand on these stocks has afforded attractive exit
positions for holders. Moreover, Kakuzi was further
boosted after an announcement by billionaire investor,
John Kimani, of his intention to raise his shareholding on
the tea producing company from the current 25% stake to
29% thus fuelling speculative trading on the counter.
Sasini Ltd was buoyed by news of its intention to dispose
of a huge parcel of land with the potential of unlocking
huge gains for shareholders.
Jubilee Holdings rallied up 26.7% to KES 570.00 on
account of its favorable FY14 earnings, whereas investors
took speculative positions on mobile juggernaut -
Safaricom ahead of full year earnings anticipated on
May 7th 2015.
Housing Finance Co. Ltd pared down to KES 33.75
following dilution on the counter on the back of its 1-for-2
cash call drive aimed at raising KES 3.5 Billion to solder the
mortgage financier’s capital buffers. Embroilment of
several British American Investments’ directors in the
murky Bramer Bank- ponzi scheme muddled the share’s
performance for the period under review down 26.1% to
KES 22.00.
Home Afrika succumbed 24.4% to KES 3.10 following the
company’s issuance of a profit warning; indicating that
FY14 results would be more than 25% lower.
5
MARKET DEVELOPMENTS
Nairobi Securities Exchange’s (NSE) New Foray: Following
the earnings announcement whereby the demutualized
bourse registered a 16.4% pre-tax profit amounting to KES
441.81 Mn this reflected a positive sentiment on the general
upward trend of the NSE stock since its inaugural listing.
The introduction of the derivatives market this is set to
usher in a renewed period of investments in single stock
and investment futures set to commence trading. This shall
be followed by the introduction of currency-based
contracts.
Furthermore, the NSE is seeking to introduce a mobile and
internet based platform by May 2015 in a bid to allow a
wider customer base to access market information and
data. This will boost data knowledge within the Kenyan
sphere, possibly enhancing investment activity.
Lower Entry Levels for Bond Market: In a bid to spur
activity on money markets, CMA in conjunction with CBK is
opting to widen the investor base. This is through high level
discussions, proposing to lower the retail entry level for
investments into the Fixed Income market set to spur
financial inclusion; thus fostering a regime whereby ordinary
Kenyan’s can be offered a wider set of investment options.
Majority of the Kenyan population have not been able to
fully be incorporated into the Fixed Income segment as
prices were pegged to KES 100,000, thereby being out of
their reach and leaving the securities held by financial
institutions and fund managers.
New Rights Issues Expected: Three rights issues are set to be
introduced onto the market between Q2 – Q4 2015. The
companies include; Equity Group Holdings Ltd (NSE:
EQTY) who are eager to enhance their regional expansion
plans with the capital; Mumias Sugar Company (NSE: MSC)
with KES 3 Bn rights approved by shareholders set to pay
outstanding debts and restructure the organization to
enhance profitability; Trans-century Ltd (NSE:TCL)
proposed KES 7.5 Bn rights
issue to offset the USD 80 Mn convertible debt issued in 2011 and
maturing in Q1 – 2016; and Kengen’s 15 Bn rights issue that was
approved and currently awaiting restructuring of debt held by the
Kenyan Government.
Capital Markets Authority Gets a New Chair: Mr. John Ndegwa,
who serves as the NIC Bank chairman, has been designated as the
new chairman of CMA. Brokers have welcomed the move
terming it as a strategically important decision, as the new
chairman is vastly familiar with the financial sector, with room to
introduce a raft of progressive reforms to aid transition into East
Africa’s financial hub.
REITS Set to Debut: Stanlib Investment is planning on launching
the first Real Estate Investment Trust (REITS) since the
introduction of the segment over two years ago, with a planned
KES 9 Bn proposal that shall lump a number of various
properties. A successful launch should set the platform for further
introductions in order as to spur investments within the real
estate scene in Kenya.
Chase Bank Kenya Ltd and Centum Investment Company (NSE:
ICDC) New Bond Offerings: Chase Bank is seeking to raise KES
10 Bn under a multi-currency Medium Term Note program to
be raised in several tranches over the next two- three years. The
first tranche will be denominated in the Kenyan shilling and
shall be listed on the NSE where accrued funds shall be utilized
in the bank’s expansion in line with tier 2 capital requirements,
enhanced lending, augmented IT Infrastructure and product
development. On the other hand, Centum is set to enter the
bond market to seek KES 7.5 Bn to finance its vast project scope
array in various sectors, representing the second time the firm
has sought a bond (though previously through private
placement) having raised KES 4.2 Bn in 2012.
6
MARKETS REVIEW
MARKET DEVELOPMENTS
Dar Stock Exchange Set to Have New Listings: Three financial
service firms are expecting to hold initial public offerings at
the DARSE before the end of the year. The companies are
Mwanza Community Bank, Microfinance Plc and Mbenga
Community; with Mwalimu Commercial Bank expecting to
list on June 8th as they are set to close their IPO in May
2015.
With the market having performed as the best in Africa in
2014 following the removal of the foreign ownership of
shares cap, there is increased anticipation that there shall be
continued uptake in the Tanzanian equities scene.
7
MARKETS REVIEW
MARKET DEVELOPMENTS
The USE is set to install electronic equity purchases and sales to With enhanced efficiency it shall resonate in the listing of
replace the open-outcry system that has characterized trading newer firms, enhanced transparency, coupled with increased
since its inception in Uganda in July 2015. Noting the success- interest from traders with internet based software.
ful roll out of the new system in Ghana and Kenya, the effects
of such a move should spur foreign participation within the
Ugandan stock market, whilst also bolstering trading volumes.
Furthermore, this should usher secondary trading in Fixed in-
come securities and assist in shifting equities settlements from
the current five day period to three days.
From Ghenghis Capital E. .A. Macroeconomic
Review, Q1-2015 compiled by Kevin Tuitoek
Email: [email protected]
8
ASEA MEMBER NEWS
ASEA MEMBER NEWS
BRVM NEWS
EDOH KOSSI AMENOUVE OF THE BRVM TO LEAD
INTEGRATION OF WEST AFRICAN MARKETS
Mr. Edoh Kossi Amenouve has been elected to lead the
integration of the West African Markets. This includes
Nigeria, Ivory Coast, Ghana and BRVM. Mr. Suleyman
Ndanusa, the President of the Nigerian Committee on
Financial Markets (Securities and Exchange Commission)
said that the integration process was already at an
advanced level and that the remaining phases could be
complete by the end of 2015.
The remaining phases will be conducted under the
direction of Mr. Edoh Kossi Amenounve, the Director
General of the Regional Stock Exchange of the UEMOA,
who was made chairman of WACMIC in replacing of
Mr. Oscar Onyema, CEO of the Nigerian Stock Exchange,
and President of the African Securities Exchanges
Association since November 2014.
9
MEMBER NEWS
EGX NEWS
Egypt to Postpone the Capital Gain Tax
With the framework of the government efforts to support the
investment environment in Egypt, the Egyptian government
announced on 18 May 2015 postponing the execution of the
Capital Gain Tax decision. The decision aims to maintain the
competitiveness of the Egyptian Exchange taking into
consideration its repercussions on the Egyptian economy and
on its ability to attract more investments.
This decision comes within The Prime Minister & the
Minister of Investment visit to the Egyptian Exchange for
the Opening of the trading session.
EGX Investors Summit 2015
The Institute of International Finance (IIF) mentioned in its
January 2015 Report that total private sector investment flows
to emerging markets fell last year to $1.1 trillion, $250 billion
less than the 2013 record high of $1.35 trillion. Shifting
expectations about the timing and pace of the Fed policy rate
hikes as well as uncertainty related to the oil market and
political risk are likely to again deliver a bumpy ride during the
year ahead, the IIF added.
Nevertheless, investors are increasingly differentiating between
stronger and weaker emerging markets, and normally long-
term institutional investors such as pension and sovereign
funds, account for most of the portfolio flow, providing
crucial support to this sector.
On a macro level, the Egypt Economic Development
Conference conducted in Sharm El Sheikh last March 2015 was
indeed very successful and reflected a strong vote of
confidence from the international community to support
Egypt’s economy going forward.
The Egyptian Exchange (EGX) is aware of the global challenges
faced by emerging markets seeking portfolio flows. It has in
place a strategic plan to enhance portfolio flows to the
Egyptian market in the coming years via upgrading its
technology infrastructure, focusing more on sustainability
projects and streamlining its rules and regulations, to make
listing and trading on its platform, easier and more investor
friendly.
In fostering a culture based on attracting more investment
flows, the EGX is pleased to announce that its annual
Summit in 2015, will focus primarily on investors’ needs in
order to attract more investment flows from Sovereign
Wealth Funds, pension funds and asset managers based in
traditional financial centers such as the UK and US; and
newer ones in Asia and Africa.
The EGX Investors Summit 2015 will provide delegates with
market insights regarding the Egyptian government’s recent
strategy to utilize the stock exchange as a funding venue for
its mega projects. It will also highlight the success stories of
blue chip companies listed on the EGX platform. Hence, the
Summit will help connect the investment community with
Egypt’s most promising investment opportunities, whether
from the government or the private sector side.
We hope that EGX Investors Summit 2015 will be a
constructive forum for our global and domestic clients and
would welcome their comments to enhance the workings of
the capital market in Egypt.
To register to the EGX Investors Summit 2015, please visit
www.egxforum.com
USE NEWS
Uganda Securities Exchange Relocates to New Premises
In November 2014, the Uganda Securities Exchange
moved its offices from The Prism Building 4th Floor
Kampala Road Plot 71/73 to UAP Business Park Nakawa,
New Port Bell Road, 4th Floor Block A, North Wing.
10
MEMBER NEWS
USE Appoints New Chief Executive
The new tax free savings regulations effective from 1
March was initiated by the National Treasury to
improve savings amongst South Africans and reduce
household indebtedness. The JSE’s TFSA intends to align
with the National Treasury’s goal, but also ensure that
investors are given access to the exchange in a cost
effective manner.
The JSE’s offering will be rolled out in collaboration
with approved stockbrokers in providing a platform
which allows for individuals to invest in selected JSE
listed instruments, such as Collective Investment Scheme
(CIS) Exchange Traded Funds tax free. These ETFs will
enable investors to diversify their risk by buying into a
basket or variety of securities through a single product
security.
“One of the common barriers to investing is the lack of
financial knowledge about the various financial
products. Our brokers have been carefully selected to
guide investors along their investment and savings
journey, by providing them with information and
bespoke financial advice,” says Ledwaba.
The JSE’s TFSA offers potential investors the following
features and benefits:
Investment in pre-selected Exchange Traded
Funds
Limited to investing R30 000 annually and
limited to a R500 000 lifetime contribution
No tax on interest earned
No Dividend Withholding Tax on dividends
earned
No Capital Gains Tax
No Securities Transfer Tax on purchases
“As a contributor to South Africa’s economy, our role at
the JSE is to not only support economic growth, but
ensure that we encourage South Africans to participate
in private sector investment.
TFSAs will ensure that we increase the level of
individuals participating on the exchange whilst
delivering on our promise to improve savings by
providing low risk, tax free savings investment
offerings,” Ledwaba concludes.
In March 2015, the Governing Council appointed Paul
Bwiso as the Chief Executive Officer of the Exchange,
he is responsible for the general superintendence of
the day to day management of the Exchange and
charged with execution of the corporate strategy.
Before joining the Exchange in March 2015, he was
the General Manager of Dyer & Blair Investment Bank
Uganda, a position he held for 6 years. He also
worked for Leads Insurance and UAP Insurance.
JSE NEWS
JSE to Offer Retail Investors Tax Free Savings
Accounts
JOHANNESBURG, 15 April 2015 - In a bid to help
South Africans adequately prepare for their financial
future the Johannesburg Stock Exchange is pleased to
announce the launch of its Tax Free Savings Account
(TFSA) initiative.
“Our offering of TFSAs will add to the JSE’s range of
existing initiatives aimed at improving retail
participation on the exchange. It is our intention to
support and improve South Africa’s culture of savings
by providing investment products through a tax free
savings account,” comments Mpho Ledwaba, Head of
Marketing at the JSE.
11
MEMBER NEWS
JSE Equity Market Achieves New Trading Record
Thursday 30 April 2015, The Johannesburg Stock
Exchange continues to beat its record highs after
recording 1, 025 million trades on the Equity Market this
Tuesday. The new record is well above the previous all-
time high of 1,018 million shares, which was last
recorded in July 1999 on the listing day of Old Mutual
Plc.
Director of the JSE’s Equity Market, Leanne Parsons
comments, “This is an encouraging milestone for the JSE
as it reinforces our value proposition as an enabler of
capital markets. In comparison to the corresponding
period in 2014, the daily average volume traded on the
JSE has increased 15% to 281 million shares, further
illustrating the growth in market sentiment led by
resource stocks.”
The mining, life insurance and property sector
contributed to this record breaking performance.
Mining traded 746 million shares. Merafe
Resources Ltd was the traded 725 million shares
on the JSE on Tuesday and followed this with
an announcement advising its shareholders that
Royal Bafokeng Resources Holdings (Pty) Ltd
(Royal Bafokeng) had notified the company
that it has disposed of its entire 28.68% interest
in the shares of the company to Glencore (
Nederland) B.V
Life Insurance traded 31 million shares, with Old
Mutual plc taking the lead at 21 million shares.
REITs traded 25 million shares, with SA Corp
Real Estate Fund leading the charge at 19 million
shares.
Cyber security, high frequency trading (HFT) and the hot
topic of dark pools were also discussed. The increased
prevalence of algorithmic trading has created an added
level of risk for institutional buy-side trade dynamics and,
with the appropriate regulation, dark pools provide a
potential solution to mitigate against this.
Donna Oosthuyse, JSE Director of Capital Markets, who
attended TradeTech 2015 as a member of the JSE team
adds that global regulatory interest around buy-side activity
– and in particular Low Latency Trading and certain rules
governing dark pools – is likely to continue to increase:
“There has been much debate around the expected
introduction of the 'Markets in Financial Instruments
Directive (MiFID) II within the European Union’s member
states.
This appears to be a hot topic amongst the leading
exchanges in Europe. While this is not likely to impact
South Africa for the time being we know that South Africa
tends to adopt best global practice and there is a chance
that new regulatory measures, such as MIFID II, may start
to filter through to local regulatory environment.”
The JSE has already implemented a number of initiatives,
which speak to these current developments, aimed at value
creation for long-term, buy-side institutional investors as
well as improved accessibility and security. These include:
1. Revision to the Block Trade rule - The JSE recently
introduced a revision to the rules governing block trading
which is aimed at increasing accessibility for certain
qualifying investors and enhancing protection for buy-side
traders. Trading instruments in the ZA01 listing category
now requires 30% of ADV in order to execute a trade,
while instruments in ZA02 re- quire 50% of ADV and
instruments in ZA03, ZA04, ZA06 requiring 100% of ADV
in order to execute a single off book block trade. The JSE
may consider including further instruments in this mix but
only to the extent that effective monitoring and regulation
can be assured and optimum levels of market security
maintained.
JSE Leads Local Market on International Regulation
JOHANNESBURG, 13 May 2015 - The Johannesburg
Stock Exchange (JSE) recently led a local delegation to
the global TradeTech 2015 conference held in Paris,
France. The annual event aims to bring together equity
trading and technology professionals from around the
world to discuss key trading issues and challenges facing
the industry.
A number of notable trends were highlighted at the
conference, namely regulatory frameworks around buy-
side institutions.
12
JSE announces ESG partnership with FTSE
Russell
Johannesburg, 3 June 2015, The Johannesburg Stock
Exchange, Africa’s leading exchange and the first
emerging market and first stock exchange to form a
Socially Responsible Investment Index (SRI Index) in
2004, today announced that from 2015 it is partnering
with FTSE Russell, the global index provider, in
progressing the JSE’s work around promoting corporate
sustainability practices over the last decade.
MEMBER NEWS
2. Introduction of the Closing Pr ice Cross (CPX)
platform - The JSE has also recently introduced the
CPX post-close trading session which allows
qualifying clients the opportunity to trade, for a
limited time, at the published closing price. This
session will enable Trading Services Participants
(TSPs) an additional five minutes to trade onscreen
using the published closing price determined in the
CPP session.
3. Introduction of a new order attr ibute – Here,
investors can elect not to interact with hidden
orders in order to provide further security to their
trade executions.
“South African institutional investors and the buy-side
community now have access to a well-balanced mix of
trading options which are on a par with global trends,”
says JSE Head: Equities, Equity Derivatives & Business
Intelligence, Nicola Comninos. “It is essential to keep
abreast with global innovations among the buy-side
community to ensure that the JSE continues to provide a
relevant service offering to its clients adding that South
Africa was suitably comparable with leading exchanges
in terms of its product offering.”
Going forward, the JSE will continue to monitor global
legislation in order to introduce relevant local
innovations where necessary. In June, the JSE will attend
the International Derivatives Expo in London, which
focuses on perspectives from exchange leaders,
regulators, traders and the buy-side on a range of issues
impacting the derivatives industry. The JSE is also
looking to represent the local market at the BRICs
Alliance conference hosted alongside the China Financial
Futures Exchange. In addition, there has been increasing
interest among the international investor community to
pursue collaborative opportunities with a wider range of
African exchanges.
Adds Comninos: “I am confident that the JSE is
appropriately-aligned with meeting the global trends
relating to changing buy-side investor demand,
especially those aimed at encouraging stability for long-
term institutional investors. I believe we are providing a
world-class offering at the JSE that will lead to longer-
term value creation for our valued institutional clients.”
JSE appointed to chair Assoc iation of Fu -
tures Markets
Johannesburg, 19 May 2015: The JSE, Africa’s leading stock
exchange and founding member of the Association of
Future Markets (AFM), has been elected to chair the
association for the next two years.
AFM, a non-profit association was established in 1998 in
Buenos Aires, Argentina by ten exchanges: Budapest
Commodity Exchange, the Central Clearing House and
Depository Ltd. of Budapest, the Romanian Commodities
Exchange, the Buenos Aires Futures Exchange, the
Amsterdam Commodity Exchange, South African Futures
Exchange, the Warsaw Commodity Exchange and the
Malaysian Derivatives Exchange.
The role of the association is to promote and encourage
the establishment of new derivative and related markets,
coordinate conferences to further promote dialogue
amongst its members and country hosts and to encourage
opportunities that will strengthen partnerships and
knowledge sharing amongst its member exchanges.
Donna Oosthuyse, Director: Capital Markets comments
“We delighted that our own Chris Sturgess, Director of
Commodities and Key Clients will take on the chairman
role to represent the JSE. He has been a prominent
participant in the forum for a number of years and is
passionate about developing derivative markets. This is also
great recognition of the JSE’s leadership role within the
AFM as well as the work we are doing to encourage
collaboration and the development of derivative markets
across the globe.”
13
MEMBER NEWS
The new partnership will see the JSE aligning its
environmental, social and governance (ESG) disclosure
indicators and data collection methodology with FTSE
Russell’s evolved ESG approach.
This will enable JSE-listed companies to form part of a
global universe of corporates whose disclosure practices
are assessed against cutting edge ESG factors and will
provide investors with expanded opportunities to
integrate ESG considerations into their investments. The
new approach will replace the SRI Index.
“This transition represents the next generation in our
evolutionary work to promote ESG disclosure, building
on the achievements of the SRI Index and the great
strides that South African corporates have made in this
regard, and will enable us to respond to the growing
need amongst investors seeking to integrate sustainability
considerations into their investments,” says Corli Le
Roux, Head, SRI Index and Sustainability at the JSE.
Both the JSE and FTSE Russell have a long track record of
innovation in the ESG and sustainability sector, and have
a long-standing relationship through the calculation of the
FTSE/JSE Africa Index Series. “Collaborating with FTSE
Russell on expanding our efforts in sustainability offers a
number of synergies and benefits for both organisations
and our clients, and was thus a logical opportunity for us
to pursue,” says Le Roux.
David Harris, Head of ESG for FTSE Russell said: “In
recent years, we have continued to see growing levels of
interest in responsible investment and ESG factors from
institutional and retail investors throughout the world.
We are delighted to be working closely with the JSE as
part of our response to meet this increased demand, and
supporting a market that has been a frontrunner in
promoting high quality ESG disclosure and practice. ESG
factors are increasingly being recognized as critical to both
risk and return considerations for mainstream
investments.”
“The dynamic nature of sustainability requires a constant
re-evaluation of approaches to support an enabling
environment in which listed companies can respond to
the growing pressure to report and where investors can
integrate issues that are material to their portfolios. The
JSE is committed to remaining a thought leader in this
regard and to continue to find opportunities in
responsible investment,” concludes Le Roux.
14
NAIROBI SECURITIES EXCHANGE NEWS
NSE Joins Sustainable Stock Exchanges (SSE)
Initiative
The Nairobi Securities Exchange (NSE) has joined the
United Nations Sustainable Stock Exchanges (SSE) which
was launched by United Nations Secretary- General Ban
Ki-moon in 2009, becoming the eighteenth member of
the SSE worldwide and the fourth in Africa alongside the
Egyptian Exchange, the Nigerian Stock Exchange and the
Johannesburg Stock Exchange.
“The Exchange is honored to collaborate with the SSE
initiative as this is in line with our commitment to
develop sustainable capital markets that will create long
term value for all our stakeholders. We endeavor to
challenge ourselves and others in the market to build a
resilient, sustainable economy that optimizes the quality
of life for all” said Mr. Geoffrey Odundo, the Chief
Executive of the NSE.
He added “The Exchange also continues to champion
sustainability through various initiatives such as the
Excellence in Financial Reporting (FiRe) Awards and the
NSE Leadership and Diversity Dialogue Series.”
The SSE initiative which is co-organized by The United
Nations Conference on Trade and Development
(UNCTAD), the United Nations Global Compact, the
United Nations Environment Programme’s Finance
Initiative, and the UN- supported Principles for
Responsible Investment explores how stock exchanges
can work together with investors, regulators and issuers
to enhance corporate transparency – and ultimately
performance – on environmental, social and corporate
governance (ESG) issues while encouraging responsible
long-term approaches to investment.
“Kenya is the biggest economy in East and Central Africa
and a critically important market for promoting
sustainable development practices in the region,” said
Mr. James Zhan, Director, Investment and Enterprise
Division UNCTAD.
We are delighted that the Nairobi Securities Exchange is
joining the Egyptian Exchange, the Nigerian Stock
Exchange and the Johannesburg Stock Exchange, as well
as other leading exchanges around the world, in
pledging to promote sustainable business practices.”
“We welcome the dynamism that Nairobi Securities
Exchange can bring to promoting investment in
sustainable development,” said Dr. Mukhisa Kituyi,
Secretary General of the United Nations Conference on
Trade and Development (UNCTAD). “The NSE can play
an important role in the quest for innovative
development finance and a reorientation of financial
markets towards sustainable development outcomes.”
Other exchanges that are a part of the SSE include the
New York Stock Exchange, London Stock Exchange
Group, NASDAQ OMX, the Bombay Stock Exchange,
Borsa Istanbul, BM&FBOVESPA (Brazil), Johannesburg
Stock Exchange, Egyptian Exchange, and the Nigerian
Stock Exchange among others.
The categories and winners of the awards were:-
1. Best Overall: British American Tobbaco Kenya
Limited and Transcentury Limited:
2. Most Improved for the Year 2014: Barclays Bank
of Kenya and;Best Growth Enterprise Market
Segment (GEMS): Home Afrika Limited.
NSE Chairman, Mr. Eddy Njoroge thanked Graça Machel,
for her continued passion and efforts geared towards
board diversity and Barclays Bank of Kenya for
sponsoring the dialogue series. He also thanked the
Capital Markets Authority for their efforts to create a
comprehensive Code of Corporate Governance which
will continue to act as our guide throughout the
leadership and diversity journey in Kenya and
congratulated the best performing listed companies.
MEMBER NEWS
The Second Leadership and Diversity Dialogue Ser ies
Chairpersons’ Roundtable
On the 4th of March 2015, the NSE convened its second
Leadership and Diversity Dialogue Series Chairpersons’
Roundtable. The event was attended by the
Chairpersons’ of the public, listed companies and graced
by Graça Machel, DBE former first lady of the Republic
of South Africa.
The NSE Leadership & Diversity Dialogue is a series of
roundtable events that the NSE is convening for the
public, listed firms in an effort to promote discussion
about the various aspects of board diversity, including
professional mix, age diversity and gender.
The NSE Chief Executive Mr. Geoffrey Odundo noted,
“The NSE, through a structured engagement, is
convening the leaders of public, listed firms to share
experiences; raise challenges faced; and together chat
the way forward in enhancing board diversity within
our listed firms. Diversity and inclusion is the key to
unlocking the full potential of employees and essential
to ensuring the success and long term sustainability of
every business. We as the capital markets need to lead
by example and strive for implementation of diversity
within our own organizations.”
The Guest of Honour Graça Machel, patron of New
Faces New Voices echoed Mr. Odundo’s sentiments
noting, “Diversity in the corporate world is a true
developmental issue which needs to be addressed and
embraced in Africa. I congratulate the Exchange for
striving to enhance diversity amongst its listed
companies as this will support the further diversification
and competitiveness of the entire private sector locally
and regionally. I challenge other Exchanges across the
continent to put diversity in the forefront of their capital
market development plans.”
15
NSE appoints new Chief Executive
MEMBER NEWS
various professional bodies and has attended various
financial and capital markets courses and forums
worldwide. Jeff, as he prefers to be called is married with 3
children and enjoys Soccer, Golf, Formula One and is a
dedicated member of the St. Pauls University Chapel
Lectors Group and founder of the Ame Foundation to
support the less fortunate members of the Society.
Speaking on behalf of the Board of Directors, the Chairman
Mr. Eddy Njoroge noted, “After a thorough and rigorous
process during which the Board together with KPMG
considered numerous applications from various applicants
of the highest standards, the Board of Directors is pleased
to appoint Mr. Odundo as the next Chief Executive of the
NSE”.
Mr. Njoroge further noted that, “Mr. Odundo’s leadership
skills, experience and wealth of knowledge would be
instrumental in driving the NSE’s aggressive Strategic Plan
aimed at developing the Kenyan Capital Markets and
growing the NSE into be a leading Securities Exchange in
Africa”.
Mr. Njoroge concluded by thanking Mr. Andrew Wachira,
the Head of Compliance and Legal who has been the
Acting Chief Executive, for guiding the NSE through the
transition period.
Speaking on his appointment Mr. Odundo noted, “I am
very honoured and privileged to be appointed as the next
Chief Executive of the leading Securities Exchange in East
and Central Africa, and I am very confident that the future
of the NSE as a key driver of Kenya’s economy is very
bright as we deepen the current products and diversify into
new product offerings. Working together with the NSE
Board and staff, I am confident that this is the dawn of a
new era for the NSE as we seek to create greater
participation by individual Kenyans, homegrown
companies and international investors in the Market.”
The Board of Directors of the Nairobi Securities
Exchange (NSE) have appointed Mr. Geoffrey Otieno
Odundo as the Chief Executive, effective from March 1,
2015. Mr. Odundo is an accomplished Investment
Banker with 22 years financial sector experience; 16
years of which have been in the Capital Markets in
various senior roles in asset management, corporate
finance and stock broking. He has been instrumental in
the setting up of Co-op trust Investment Services, Co-op
Consultancy Services Limited and Kingdom Securities
Limited.
Prior to his appointment, Mr. Odundo has been the
Managing Director and Chief Executive Officer of
Kingdom Securities Limited from June 2009. During his
tenure at Kingdom Securities Limited he has overseen the
growth of the firm to become one of the leading
Trading Participants of the NSE and has been
instrumental in key listings on the NSE as well as other
corporate finance transactions. He has also been serving
as a Non-Executive Director of the NSE representing
Trading Participants from March 2012. During this time,
he has been the Chairman of the NSE Technology
Committee and has also been a member of the NSE
Finance and Manpower Committee and the NSE Listings
and Admissions Committee.
Mr. Odundo has also in the past served as a Director
and Secretary of the Kenya Association of Stockbrokers
and Investment Banks (KASIB), a role in which he was
instrumental in improving the service delivery and
standards on the operations of Capital Markets
intermediaries.
He holds a Bachelors of Arts Degree in Mathematics and
Economics from Egerton University and a Masters in
Strategic Management from the United States
International University. Mr. Odundo is a member of
16
MEMBER NEWS
NIGERIAN STOCK EXCHANGE NEWS
NSE and MSCI S ign Strateg ic Agreement
In March 2015, MSCI Inc. (NYSE: MSCI), a leading
provider of investment decision support tools
worldwide, and The Nigerian Stock Exchange (NSE), the
stock exchange servicing the largest economy in Africa,
today announced a strategic co-operation agreement to
develop and market a co-branded family of indexes for
the Nigerian equity markets.
Existing and future indexes will be co-branded as the
MSCI/NSE Indexes, including the flagship NSE 30 Index
and NSE 50 Index, which will become the MSCI/NSE 30
Index and the MSCI/NSE 50 Index, respectively.
Additional indexes will also be jointly developed and
launched in the future based on client demand and
market development. The indexes will be used as
performance benchmarks and as the basis for index-
linked products for investors seeking exposure to the
Nigerian capital markets.
“As the largest economy in Africa, Nigeria is increasingly
positioning itself at the center of the development of the
region’s capital markets,” said Baer Pettit, Managing
Director and Head of MSCI’s Product Group. “MSCI is
very proud to establish a strategic relationship with The
Nigerian Stock Exchange, and we look forward to
working with them to raise the profile of these indexes
around the world. The combination of MSCI’s emerging
and frontier markets index expertise and NSE’s position
as one of the leading exchanges in the region will, we
believe, deliver high quality indexes for both
international and domestic investors.”
Oscar N. Onyema, CEO, NSE, said, “We are proud to
collaborate with MSCI, one of the top and most-
respected index providers for global stock markets. Our
collaboration provides the global investing public, listed
companies and other stakeholders in the Nigerian
market access to MSCI’s high quality products and
internationally recognized brand. The Nigerian Stock
Exchange, in cooperation with MSCI, will continue to
innovate and bring products to market that will increase
the sophistication of African markets, and continue to
establish Nigeria as the market for entrepreneurial
growth.”
The MSCI/NSE Indexes will be calculated and disseminated
by MSCI, based on the same industry leading standards that
apply to the MSCI indexes. MSCI will commercialize the
indexes outside of Nigeria while the NSE will continue to
serve clients in Nigeria.
NSE CEO Awarded Most Innovative CEO of the Year
The Chief Executive Officer of The Nigerian Stock Exchange
(NSE), Mr. Oscar N. Onyema, OON, has been named Most
Innovative CEO of the Year in recognition of his
tremendous role in the development of the Nigerian capital
market. The award was presented at the inauguration
ceremony of the 9th President of the Abuja Chamber of
Commerce and Industry, Mines & Agriculture
(ABUCCIMA), held at the Sheraton Hotel, Abuja on
January 21, 2014.
According to Mr. Jude Igwe, Vice-president, public
relations, ABUCCIMA, the awards are given to only
individuals who have consistently demonstrated un-
common resilience and innovation in their various
economic engagements.
Commenting on the award, Onyema said, “I am honored
to receive the 2014 Abuja Chamber Award for Most
Innovative CEO of the Year. While this award is personal in
nature, it would not have been possible without the great
team at The Nigerian Stock Exchange, who are making
significant contributions to the development of the
Nigerian capital market and Africa at large. This award is
for my team, I am just receiving it in my name”.
Onyema also noted that “The NSE has made great strides
in its transformation journey which has brought about
major reviews of its governance, market structure and
operations, a stronger regulatory environment, and the
implementation of innovations required for delivering a
robust and efficient capital market”.
Alhaji Aliko Dangote, GCON, Sir Emeka Ofor and Mr.
Olatunde Ayeni were among those honoured by the Abuja
Chamber of Commerce, Industry, Mines and Agriculture.
17
MEMBER STATISTICS
BOTSWANA STOCK EXCHANGE
BSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. Transactions
Equity Market Transactions Bond Market Transactions Others
Market Capitalization
No. of Listed Companies
No. of Traded Companies
Number of Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$ 30,486,405.00
$ 25,830,605.00
$ 4,655,800.00
$0.00
87,599,767
87,198,005
401,762
401,762
930
916
0
14
$ 42,806,000.00
37.00
31.00
21.00
9.71
(DCI)
9,836.28
1.42
-
-
MARCH
$ 48,616,250.00
$ 36,028,008.00
$ 12,588,242.00
$0.00
103,878,821
101,513,660
2,365,161
2,365,161
985
957
0
28
$ 42,109,000.00
37.00
27.00
22.00
10.10
(DCI)
9,693.91
0.01
-
-
FEBRUARY
$ 9,100,950.00
$ 8,891,605.00
$ 209,345.00
$0.00
59,344,425
59,305,049
39,376
29,376
693
683
0
10
$ 43,262,000.00
37.00
27.00
21.00
10.10
(DCI)
9,593.81
0.01
-
-
JANUARY
$ 14,024,848.21
$ 13,992,391.25
$ 32,456.96
$0.00
32,432,265
32,428,283
3,982
3,982
726
712
0
14
$ 42,593,890.00
37.00
37.00
20.00
9.80
(DCI)
9,463.73
(0.00)
-
-
18
MEMBER STATISTICS
BOURSE DE TUNIS
BOURSE DE TUNIS
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Others Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
No. of Listed Companies
No. of Traded Companies Number of Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$132,721,011.00
$118,808,370.37
$624,643.19
$0.00
25,135,832
23,610,297
1,525,535
1,481,988
45,625
45,315
158
152
$9,766,336,382.54
77
76
21
1.91
TUNINDEX
5,544.87
4.37%
16.91
3.00%
MARCH
$140,953,438.73
$60,638,942.50
$11,488,286.83
$0.00
19,052,656
16,949,466
2,103,190
1,860,111
39,155
38,817
176
162
$9,178,518,303.01
77
76
21
1.96
TUNINDEX
5,312.73
-2.38%
16.31
3.10%
FEBRUARY
$124,539,246.09
$99,382,352.82
$6,999,832.91
$0.00
36,976,476
25,867,593
11,108,883
10,930,434
50,104
49,771
249
84
$9,432,665,934.46
77
74
20
1.95
TUNINDEX
5,442.26
4.26%
16.75
3.10%
JANUARY $144,324,892.62
$100,109,745.33
$3,435,879.32
$0.00
42,345,130
32,289,943
10,055,187
9,956,590
46,488
46,178
215
95
$9,184,794,856.26
77
74
20
1.93
TUNINDEX
5,219.94
2.55%
16.07
3.20%
19
MEMBER STATISTICS
CASABLANCA STOCK EXCHANGE
CSE
Total Value Traded
Equity Value Traded
Bond Value Traded Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded
Others
Total Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies Trading Days Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%) P/E Ratio Dividend Yield (%)
APRIL
$199,128,607.03
$137,336,355.99
$61,792,251.05
$0.00
8,490,147
8,483,809
6,338
0
10,282
10,273
9
0
$51,404,659,938.20
74
71
22
9.75
MASI
9,937.38
-3.24%
-
-
MARCH
$473,874,797.34
$393,268,706.08
$80,606,091.26
$0.00
17,459,253
17,451,446
7,807
0
13,283
13,272
11
0
$52,023,336,522.17
74
70
22
9.96
MASI
9,937.38
-3.24%
-
-
FEBRUARY
$381,361,506.31
$359,166,473.26
$22,195,033.04
$0.00
25,167,175
25,165,142
2,033
0
13,020
13,020
3
0
$54,788,970,747.27
74
70
20
9.62
MASI
10,460.62
2.33%
-
-
JANUARY
$306,111,382.67
$290,901,216.85
$15,210,165.82
$0.00
22,994,203
22,992,203
2,000
0
16,149
16,145
4
0
$53,788,796,969.42
75
70
20
9.56
MASI
10,222.56
6.26%
-
-
20
MEMBER NEWS
BOURSE RÉGIONALE DES VALEURS MOBILIÈRES SA
BRVM
Total Value Traded
Equity Value Traded
Bond Value Traded Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded Others Total Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies
Trading Days Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%) P/E Ratio
Dividend Yield (%)
APRIL
$38,225,603.71
$27,763,619.01
$10,461,984.70
$0.00
12,192,265
18,462,482
-6,270,217
0
4,024
3,913
111
0
$11,167,361,309.15
72
60
21
584.89
BRVM-10
272.39
1.28%
28
-
MARCH
$34,996,633.00
$24,414,081.00
$10,582,552.00
$0.00
11,870,182
10,865,271
1,004,911
0
5,253
5,154
99
0
$10,626,499,214.00
72
61
22
60,968.00
BRVM-10
26,895.00
-49.00%
2,801.00
4.75%
FEBRUARY
$22,801,639.00
$16,169,483.00
$6,632,156.00
$0.00
5,853,998
5,466,430
387,568
0
3,270
3,188
82
0
$11,023,230,308.00
71
54
19
583.59
BRVM-10
270.27
3.76%
27.2
4.68%
JANUARY
$16,954,233.00
$14,114,049.00
$2,840,184.00
$0.00
2,465,779
2,300,478
165,301
0
3,775
3,698
77
0
$10,676,773,069.00
71
61
21
580.24
BRVM-10
260.48
-2.64%
26.95
4.73%
21
MEMBER STATISTICS
DAR ES SALAAM STOCK EXCHANGE
DSE
Total Value Traded
Equity Value Traded Bond Value Traded Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded Others Total Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies Trading Days Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$42,722,870.00
$30,598,044.00
$12,124,826.00
$0.00
11,462,467
11,183,807
278,660
0
1,218
1,206
12
0
$12,924,056,862.00
21
14
19
1,829.00
DSEI
2,699.61
0.00%
-
-
MARCH
$47,759,289.32
$12,892,397.95
$34,866,891.37
$0.00
33,747,819
33,000,569
747,250
0
1,396
1,363
33
0
$12,719,468,477.18
21
13
22
1,788.07
DSEI
2,701.28
0.00%
-
-
FEBRUARY
$116,669,124.74
$81,110,257.88
$35,558,866.86
$0.00
17,720,620
16,921,103
799,517
0
1,763
1,745
18
0
$13,283,273,270.00
21
12
20
1,781.46
DSEI
2,701.28
0.00%
-
-
JANUARY
$66,966,722.00
$62,341,502.00
$4,625,220.00
$0.00
13,669,436
13,565,136
104,300
0
1,585
1,577
8
0
$13,307,573,916.00
21
11
21
1,760.78
DSEI
2,671.89
0.00%
-
-
22
MEMBER STATISTICS
THE EGYPTIAN EXCHANGE
EGX
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions Bond Transactions
Others Market Capitalization
Listed Companies
Traded Companies
Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$2,472,874,386.27
$1,346,644,873.55
$960,260,111.42
$0.00
2,648,530,593
2,602,949,728
45,580,865
38,323,721
269,662
265,866
124
3,672
$66,372,415,879.28
253
221
20
7.53
EGX 30
8,672.29
-5.06%
58.33
6.32%
MARCH
$3,212,956,603.94
$1,872,245,859.14
$1,020,432,616.17
$0.00
2,788,884,652
2,545,047,651
243,837,001
236,352,750
444,126
441,377
153
2,596
$67,223,715,595.02
253
224
23
7.53
EGX 30
9,134.78
-2.14%
62.62
7.32%
FEBRUARY
$4,498,630,978.62
$3,130,305,703.15
$1,175,150,647.00
$0.00
2,723,487,655
2,609,707,422
113,780,233
105,307,670
437,487
434,963
163
2,361
$67,881,724,504.92
248
220
20
7.53
EGX 30
9,334.01
-5.17%
67.96
10.07%
JANUARY
$2,890,100,734.94
$1,795,671,351.35
$905,636,830.08
$0.00
2,886,455,189
2,761,438,504
125,016,685
118,414,865
476,252
473,810
130
2,312
$70,471,220,298.49
248
224
18
7.49
EGX 30
9,843.10
10.27%
69.17
9.48%
23
MEMBER STATISTICS
GHANA STOCK EXCHANGE
GSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies
Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$ 2,220,356,820.00
$2,079,776,820.00
$140,580,000.00
$0.00
5,066,400
4,966,400
100,000
0
32
31
1
0
$14,107,896,764.37
36
26
20
3.87
GSE Composite
2,224.23
0.27%
12.8
0.05%
MARCH
$5,969,879,150.00
$5,969,879,150.00
$0.00
$0.00
57,131,804
57,131,804
0
0
2,067
2,067
0
0
$ 17,012,110,000.00
35
26
21
3.75
GSE Composite
2,220.37
1.95%
17.83
4.29%
FEBRUARY
$8,700,875,430.00
$8,700,875,430.00
$0.00
$0.00
21,289,042
21,289,042
0
0
2,250
2,250
0
0
$ 18,317,740,000.00
35
28
20
3.47
GSE Composite
2,177.95
0.18%
14.68
4.50%
JANUARY
$4,701,480,690.00
$4,701,480,690.00
$0.00
$0.00
10,255,338
10,255,338
0
0
2,569
2,569
0
0
$19,516,630,000.00
35
27
21
3.24
GSE Composite
2,173.95
-3.85%
14.68
4.50%
24
MEMBER STATISTICS
JOHANNESBRG STOCK EXCHANGE
JSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies
Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$194,025,534,617.00
$30,117,129,784.00
$126,146,354,980.00
$0.00
5,963,225,748
5,942,480,898
0
20,744,850
5,014,748
4,729,003
30,808
254,937
$ 1,055,158,963,436.00
392
361
19
11.79
FTSE/JSE All Share
54,440.43
4.33%
20.57
2.66%
MARCH
$318,463,363,303.00
$41,183,961,728.00
$189,676,609,477.00
$0.00
7,014,092,250
6,955,590,391
0
58,501,859
6,572,641
6,144,136
46,558
381,947
$ 986,602,975,697.00
393
361
22
12.08
FTSE/JSE All Share
52,181.95
4.05%
20.57
2.66%
FEBRUARY
$229,670,055,462.00
$30,485,700,564.00
$155,356,687,329.00
$0.00
5,275,902,978
5,261,645,103
0
14,257,875
4,676,253
4,356,999
4,963
278,714
$ 1,056,245,123,889.00
392
364
20
11.58
FTSE/JSE All Share
53,344.20
4.05%
19.97
2.52%
JANUARY
$216,004,026,478.00
$30,127,663,754.00
$141,845,161,380.00
$0.00
4,945,143,938
4,935,555,867
0
9,588,071
4,753,819
4,401,189
33,945
318,685
$ 1,018,132,417,711.00
392
365
21
11.55
FTSE/JSE All Share
51,266.81
3.01%
18.71
2.78%
25
MEMBER STATISTICS
KHARTOUM STOCK EXCHANGE
KSE
Total Value Traded
Equity Value Traded Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Others
Total No. of Transactions Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$66,490,231.00
$3,614,152.00
$0.00
$0.00
8,967,085
8,169,830
797,255
0
2,174
107
0
0
$2,227,104,039.00
65
0
22
5.97
Khartoum Index
2,913.47
2.95%
-
-
MARCH
$105,539,979.00
$1,482,350.00
$0.00
$0.00
7,003,383
5,818,283
1,185,100
0
3,289
65
0
0
$2,169,094,777.00
65
16
23
5.97
Khartoum Index
2,829.94
0.50%
-
-
FEBRUARY
$67,661,769.00
$28,325.00
$0.00
$0.00
866,181
82,688
783,493
0
1,373
52
0
0
$2,055,001,330.00
65
14
20
5.97
Khartoum Index
2,844.10
1.28%
-
-
JANUARY
$70,854,263.00
$2,467,490.00
$0.00
$0.00
6,947,465
6,181,808
765,657
0
2,471
45
0
0
$2,134,319,234.00
65
8
20
5.97
Khartoum Index
2,808.13
11.18%
-
-
26
MEMBER STATISTICS
NAIROBI SECURITIES EXCHANGE
NSE
Total Value Traded
Equity Value Traded
Bond Value Traded Others
APRIL
$421,261,883.93
$154,121,757.30
$267,140,126.60
$0.00
487,839,509
487,839,444
65
0
36,691
36,148
543
0
$25,689,868,301.84
64
61
20
95.00
NSE 20 Share Index
5,091.00
4.76%
16
2.83%
MARCH
$721,426,199.63
$223,006,197.70
$498,420,001.93
$0.00
614,200,681
614,200,635
46
0
12,788
12,288
500
0
$26,561,972,983.37
64
60
22
92.00
NSE 20 Share Index
5,346.00
2.64%
16
2.98%
FEBRUARY
$673,130,398.00
$177,027,388.00
$496,103,060.00
$0.00
593,241,754
593,241,700
54
0
42,832
42,387
445
128
$ 26,207,378,500.67
64
61
20
91.00
NSE All-Share Index
5,491.00
2.87%
17
2.87%
JANUARY
$522,659,885.10
$105,595,443.10
$417,064,442.00
$0.00
414,278,143
414,278,094
49
0
40,146
39,813
333
0
$25,547,046,381.42
65
0
21
92.00
NSE 20 Share Index
5,212.00
1.94%
16
2.88%
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Others
Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies Number of Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
27
MEMBER STATISTICS
THE NAMIBIAN STOCK EXCHANGE
NSX
Total Value Traded
Equity Value Traded
Bond Value Traded Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Other
APRIL
$171,587,287.00
$167,496,193.00
$1,032,009.00
$0.00
42,088,600
29,571,641
12,516,959
316,959
350
345
2
3
$ 159,672,839,117.00
39
27
19
11.82
NSX Overall Index
1,200.96
3.32%
-
-
MARCH
$161,292,323.00
$157,454,947.00
$1,489,659.00
$0.00
44,011,176
25,718,376
18,292,800
292,800
388
374
6
8
$ 150,853,146,279.00
38
27
22
12.08
NSX Overall Index
1,162.35
-0.95%
-
-
FEBRUARY
$102,323,062.00
$100,183,041.00
$2,095,539.00
$0.00
43,013,431
18,809,131
24,204,300
204,300
280
276
2
2
$ 160,057,755,262.00
38
25
20
11.45
NSX Overall Index
1,173.44
5.01%
-
-
JANUARY
$159,313,007.00
$153,082,152.00
$1,727,847.00
$0.00
45,600,974
25,221,151
20,379,823
379,823
292
282
2
8
$ 152,323,700,859.00
38
26
21
11.58
NSX Overall Index
1,117.49
1.77%
-
-
Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
28
MEMBER STATISTICS
THE NIGERIAN STOCK EXCHANGE
NSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Others
Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$510,751,825.40
$510,208,818.31
$140,965.79
$0.00
10,721,852,933
10,718,431,853
3,421,080
3,394,790
107,932
107,787
18
127
$84,697,439,287.21
194
172
21
198.00
NSE All-Share Index
34,708.11
9.33%
17.3
5.10%
MARCH
$462,087,759.78
$461,983,362.97
$3,846.63
$0.00
10,198,019,199
10,196,730,298
1,288,901
1,288,165
91,550
91,444
6
100
$81,601,778,975.56
194
173
22
199.00
NSE All-Share Index
31,744.82
5.45%
15.9
5.00%
FEBRUARY
$455,084,589.80
$455,035,884.34
$6,041.39
$0.00
7,735,852,038
7,735,341,390
510,648
509,433
84,775
84,640
7
128
$ 76,207,378,500.67
194
172
21
203.00
NSE All-Share Index
30,103.81
1.83%
15.41
5.10%
JANUARY
$531,524,035.69
$531,149,907.45
$356,421.79
$0.00
8,005,130,630
8,004,991,757
138,873
64,073
85,149
85,032
15
102
$ 84,754,362,341.78
193
165
22
188.00
NSE All-Share Index
29,562.07
-14.70%
23.94
5.00%
29
MEMBER STATISTICS
MALAWI STOCK EXCHANGE
MSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded Others
Total No. of Transactions Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies
Trading Days Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$70,878,247.78
$70,878,247.78
$0.00
$0.00
1,606,464,275
1,606,464,275
0
0
136
136
0
0
$1,552,832,381.19
14
13
20
440.86
MASI
16,024.62
7.65%
10.05
3.68%
MARCH
$523,930.86
$523,930.86
$0.00
$0.00
19,690,879
19,690,879
0
0
113
113
0
0
$1,490,616,860.19
14
14
20
440.34
MASI
15,364.50
3.21%
10.04
3.69%
FEBRUARY
$315,425.75
$315,425.75
$0.00
$0.00
7,495,950
7,495,950
0
0
112
112
0
0
$1,462,821,946.46
14
14
20
437.21
MASI
14,971.01
0.57%
10.09
3.66%
JANUARY
$671,125.33
$671,125.33
$0.00
$0.00
13,253,003
13,253,003
0
0
115
115
0
0
$1,413,308,196.52
14
12
20
451.67
MASI
14,942.70
0.38%
10.09
3.66%
30
MEMBER STATISTICS
RWANDA STOCK EXCHANGE
RSE
Total Value Traded
Equity Value Traded Bond Value Traded Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded Others
APRIL
$2,079,917.00
$2,079,776.82
$140.58
$0.00
5,066,400
4,966,400
100,000
0
32
31
1
0
$4,107,896,764.37
6
2
20
710.65
Rwanda SE Index
234.23
0.27%
12.8
0.05%
MARCH
$5,849,697.14
$5,814,029.27
$35,667.87
$0.00
39,006,600
14,006,600
25,000,000
0
76
75
1
0
$4,119,356,200.00
6
3
22
707.92
Rwanda SE Index
234.22
1.30%
10.62
0.05%
FEBRUARY
$878,719.20
$878,719.20
$0.00
$0.00
1,959,300
1,959,300
0
0
91
91
0
0
$4,137,661,569.00
6
3
19
707.92
Rwanda SE Index
234.63
0.92%
10.63
0.05%
JANUARY
$7,880,638.16
$7,880,638.16
$0.00
$0.00
14,356,000
14,356,000
0
0
117
117
0
0
$1,892,967,961.00
5
2
21
700.29
Rwanda SE Index
235.87
2.20%
10.53
0.05%
Total No. of Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
31
MEMBER STATISTICS
SEYCHELLES SECURITIES EXCHANGE
TROP-X
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies Trading Days Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$65,355.36
$65,355.36
$0.00
$0.00
7,260
7,260
0
0
10
10
0
0
$36,953,586.81
4
3
20
13.33
DCI
-
-
-
-
MARCH
$17,484.28
$17,484.28
$0.00
$0.00
2,308
2,308
0
0
22
22
0
0
$34,720,213.09
4
3
20
13.49
DCI
-
-
-
-
$
FEBRUARY
$22,955.47
$22,955.47
$0.00
$0.00
21,574
21,574
0
0
6
6
0
0
34,403,225.89
4
3
20
13.95
DCI
-
-
-
-
JANUARY
$18,194.35
$18,194.35
$0.00
$0.00
2,366
2,366
0
0
16
16
0
0
$ 34,899,023.33
4
3
20
13.71
DCI
-
-
-
-
32
MEMBER STATISTICS
STOCK EXCHANGE OF MAURITIUS
SEM
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions
Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies
Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$69,604,840.82
$69,128,742.99
$426,621.69
$0.00
805,538,584
805,479,366
59,218
8,035
7,400
7,359
31
10
$7,450,078,040.01
92
92
22
35.60
SEMDEX
1,955.81
-0.98%
9.98
3.11%
MARCH
$48,879,000.42
$47,963,248.43
$887,522.90
$0.00
173,365,900
173,304,045
61,855
5,825
8,765
8,716
40
9
$7,288,261,731.63
92
92
21
36.76
SEMDEX
1,975.21
-2.15%
9.77
3.08%
FEBRUARY
$79,586,123.96
$78,231,581.79
$1,338,714.19
$0.00
313,091,840
312,703,460
388,380
2
6,177
6,125
50
2
$8,086,425,799.10
91
91
17
33.63
SEMDEX
2,018.63
-0.04%
9.76
3.05%
JANUARY
$30,571,411.74
$30,237,460.17
$142,299.63
$0.00
140,285,769
140,232,253
53,516
44,506
6,733
6,693
37
3
$8,202,607,411.29
91
91
20
33.12
SEMDEX
2,019.43
-2.62%
9.75
3.05%
33
MEMBER STATISTICS
UGANDA SECURITIES EXCHANGE
USE
Total Value Traded
Equity Value Traded Bond Value Traded Others
Total Volume Traded
Equity Volume Traded Bond Volume Traded Others
APRIL
$5,949,530.83
$5,949,530.83
$0.00
$0.00
55,060,443
55,060,443
0
0
409
409
0
0
$ 9,249,146,377.00
16
9
20
2,975.41
USE All Share Index
1,991.37
-4.10%
-
-
$
MARCH
$3,835,089.60
$3,835,089.60
$0.00
$0.00
72,331,223
72,331,223
0
0
329
329
0
0
9,540,263,656.00
16
9
22
2,973.00
USE All Share Index
2,076.02
0.50%
-
-
FEBRUARY
$9,483,249.62
$9,483,249.62
$0.00
$0.00
121,937,979
121,937,979
0
0
517
517
0
0
$ 9,872,550,176.63
16
8
20
2,895.00
USE All Share Index
2,066.25
3.20%
19.5
4.50%
JANUARY
$5,584,057.65
$5,584,057.65
$0.00
$0.00
117,375,216
117,375,216
0
0
394
394
0
0
$ 9,564,147,292.32
16
9
20
2,866.30
USE All Share Index
2,001.29
3.90%
21.01
3.33%
Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies Traded Companies Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
34
MEMBER STATISTICS
ZIMBABWE STOCK EXCHANGE
ZSE
Total Value Traded
Equity Value Traded
Bond Value Traded
Others
Total Volume Traded
Equity Volume Traded
Bond Volume Traded
Others
Total No. of Transactions
Equity Transactions Bond Transactions Others
Market Capitalization
Listed Companies
Traded Companies
Trading Days
Exchange Rate/US$
Main Index Name
Main Index (Points)
Gains in Main Index (%)
P/E Ratio
Dividend Yield (%)
APRIL
$29,188,559.23
$29,188,559.23
$0.00
$0.00
590,291,280
590,291,280
0
0
673
673
0
0
$4,066,067,417.00
63
59
20
-
Industrials
156.26
-1.24%
-
-
MARCH
$18,903,881.76
$18,903,881.76
$0.00
$0.00
405,841,039
405,841,039
0
0
704
704
0
0
$4,117,082,319.00
63
59
22
-
Industrials
158.22
-5.35%
-
-
FEBRUARY
$34,775,615.86
$34,775,615.86
$0.00
$0.00
122,861,606
122,861,606
0
0
749
749
0
0
$4,353,375,154.00
63
59
20
-
Industrials
167.16
1.37%
-
-
JANUARY
$16,062,740.83
$16,062,740.83
$0.00
$0.00
57,390,451
57,390,451
0
0
703
703
0
0
$4,365,143,861.00
65
61
21
-
Industrials
164.9
1.30%
-
-
35
MEMBER CONTACTS
BOTSWANA STOCK EXCHANGE
Exchange House
Plot 64511 Fairgrounds
Gaborone Botswana
Private Bag 00417
Telephone: (+267) 367-4400
Fax:(+267) 318-0175
Contact Person: Mr.Hiran Mendis (CEO)
Website : http://www.bse.co.bw/
Email : [email protected]
BOLSA DE VALORES DE CABO VERDE
Achada de Santo António
Lg. Europa nº 16 CP 115/A Praia
Cape Verde Ilha de Santiago C.P. 115/A Cabo
Telephone:+ (238) 260 30 30/31/32
Fax:+ (238) 260 30 38
Contact Person: Manuel Joaquim de Lima
Website: http://www.bvc.cv /
Email: [email protected]
EGYPTIAN EXCHANGE
BOURSE DE CASABLANCA
Angle Avenue des Forces Armées Royales et Rue
Arrachid
Mohamed, Casablanca, Morocco
Telephone:+(212) 22 45 26 26 27
Fax:+(212) 22 45 26 25
Contact Person: Mr. Ayoub YOUSSEFI
Website:
Email:[email protected]
http://www.casablanca-bourse.com
DOUALA STOCK EXCHANGE
1450 Bd de la Liberté Douala
P.O Box 442, Douala, CAMEROON
Telephone: 343-85-83
Fax: 343-85-84
Website: http://www.douala-stock-exchange.com/
Email: [email protected]
DAR ES SALAAM STOCK EXCHANGE
Golden Jubilee Towers
14th Floor Ohio Street
P. O. Box 70081 Dar es Salaam, Tanzania
Telephone:+255 22 2128522
Fax:+255 22 2133849
Contact Person: Moremi Marwa
Website: http://www.dse.co.tz
Email: [email protected]
5 Sherif El Saghir St. Down Town
P.O.Box 358 Mohamed Farid
Postal Code 11513, Cairo, Egypt
Telephone: +20 2 23970461
Fax: +20 2 23933984
Contact Person: Mr. Mohamed Farrag
Website: http://www.egx.com.eg/
Email:[email protected]
GHANA STOCK EXCHANGE
BRVM
18 Joseph Anoma Ave, (Rue des Banques)
Abidjan 01 BP 3802 Abidjan, Cote D’Ivoire
Telephone: (+255) 2032-6685
Fax: (+255) 2032-4777
Contact Person: Edoh Kossi Amenounve
(Chief Executive/Director General)
Website: http://www.brvm.org/
Email: [email protected]
Cedi House, 5th and 6th Floor Liberia Road
P O Box 1849, Accra, Ghana
Telephone: +233 302 66-9908/9914/9935
Fax:+233 302 66-9913
Contact Person: Diana Okine, Manager Marketing & PR /
Ekow
Afedzie, Deputy Managing Director
Website: http://www.gse.com.gh/
Email: [email protected]
36
Z
MEMBER CONTACTS
JOHANNESBURG STOCK EXCHANGE
One Exchange Square, Gwen Lane, Sandown
Private Bag X991174
Sandton 2146, South Africa
Telephone:+27 11 520 7391
Fax:+27 11 520 8998
Contact Person: Mrs. Zeona Jacobs
(Director: Issuer and Investor Relations)
Website: http://www.jse.co.za/
Email:[email protected] STOCK EXCHANGE OF MAURITIUS
4th Floor, One Cathedral Square Building
16 Jules Koenig Street, Port Louis, Mauritius
Telephone: (+230) 212 9541
Fax: (+230) 208 8409
Contact Person: Mr Sunil Benimadhu (Chief
Executive)
Website:
http://www.stockexchangeofmauritius.com/
Email: [email protected]
MALAWI STOCK EXCHANGE
Old Reserve Bank Building, Victoria Avenue
P/Bag 270, Blantyre, Malawi
Telephone: (+265) 0182-4233
Fax: +(265) 0182-3636
Contact Person: Mr. Symon W. Msefula
(Chief Executive Officer)
Website: http://www.mse.co.mw/
Email: [email protected]
KHARTOUM STOCK EXCHANGE
Al Baraka Tower
P.O. Box 10835 Khartoum
Telephone: +249782152, +249782250
Fax: +249782225
Contact Person: Mr. Osman Khair
Website: http://www.kse.com.sd/
Email:[email protected]
BOLSA DE VALORES DE MOCAMBIQUE
Avenida 25 de Setembro no. 1230
5th Floor Maputo, Mozambique
LUSAKA STOCK EXCHANGE
3rd Floor, Exchange Building, Central Park, Cairo Road
P O Box 34523 Lusaka, Zambia
Telephone:(+260) 1 228391/228537/228594
Fax:(+260) 1 225969
Contact Person: Mr. Brian Tembo (Chief Executive)
Website:http://www.luse.co.zm /
Email:[email protected]
Telephone:+258-21-308826/7/8
Fax:+258-21-310559
Contact Person: Mrs. Anabela Chambuca
(CEO) or Mr, Joao Pedro Rodrigues
Website:
http://www.bolsadevalores.co.mz/
Email: [email protected]
NAMIBIAN STOCK EXCHANGE
P.O. Box 2401
Robert Mugabe Avenue 4, Windhoek, Namibia
Telephone:(+264) 61 227-647 LIBYAN STOCK MARKET
Benghazi- Alshatea Street Hai Aljazeera
(Juliana)
Nearest Alfadl Hotel Tripoli- Omar Almoktar st
Telephone:+218213365050, +218619093067
Fax: +218213365025, +218619091097
Contact Person: Mr. Husein Madjub
Website: http://www.lsm.gov.ly/
Email: [email protected]
Fax:(+264) 61 248-531
Contact Person: Mr. Tiaan Bazuin (Chief Executive Officer)
Website: http://www.nsx.com.na/
Email:[email protected]
37
MEMBER CONTACTS
NAIROBI SECURITIES EXCHANGE
The Exchange, 55 Westlands Road
P O Box 43633 – 00100
Nairobi, Kenya
Telephone:+254 20 2831000
Fax:+254 20 2224200
Contact Person: Mr. Donald Ouma
(Head of Market and Product Development)
Website:http://www.nse.co.ke/
Email:[email protected]
UGANDA SECURITIES EXCHANGE
NIGERIAN STOCK EXCHANGE
Stock Exchange House
2-4 Customs Street
P.O. Box 2457, Marina, Lagos Nigeria
Telephone:+234 (0)1 448 9366
Mobile: +234 (0)808 034 7840
Contact Person: Okon Onuntei
Website: http://www.nse.com.ng
Email: [email protected] ZIMBABWE STOCK EXCHANGE
44 Ridgeway North, Highlands,
RWANDA STOCK EXCHANGE
1st Floor, Kigali City Tower,(KCT)
P.O.Box 3882, Kigali RWANDA
Telephone: +250 252 575968
Contact Person: Pierre Celestin Rwabukumba
Website: http://www.rse.rw/
Email:[email protected]
Harare, Zimbabwe
(263-4) 886830-5
Website: http://www.zse.co.zw/
Email: [email protected]
BOURSE DE TUNIS
34, Avenue de la Bourse, les Jardins du Lac,
1053, Les Berges du Lac 2, Tunis Tunisie
Telephone:+ 216 71 197 910
Fax: +216 71 197 903
Contact Person: Abderraouf BOUDABOUS
Website: http://www.bvmt.com.tn/
Email: [email protected]
UAP Business Park Nakawa,
New Port Bell Road,
4th Floor Block A, North Wing.
P.O.Box 23552,
Kampala, Uganda
Website: http://www.use.or.ug/
Email: [email protected]
S IERRA LEONE STOCK EXCHANGE
Bank of Sierra Leone Main Building
30 Siaka Stevens Street, Freetown, Sierra Leone
Telephone: + 232 22 228150
TROP-X (SEYCHELLES) LIMITED
P.O. Box 360, Eden Island, Seychelles
Telephone: +248 4 34 68 00
Contact Person: Melanie Stravens
Website: http://www.trop-x.com/
Email: [email protected] 38
AFRICAN SECURITIES EXCHANGES ASSOCIATION
The Exchange, 55 Westlands Road P.O. Box 43633 - 00100 Nairobi
Telephone: +254 20 2831000 Contact: [email protected] Website: www.african-exchanges.org
39