Latest data from the end-March 2018 Quarterly Collective Investment Schemes Performance Survey, shows that, on average, 80% or more of general equity unit trusts and other collective investment schemes (ETFs) in South Africa, fail to produce total investment returns above the FTSE/JSE All Share Index.
Markets & Industry News
4 Africa Exchange (4AX) has announced the acquisition of RainFin’s corporate debt marketplace in exchange for a strategic shareholding in 4AX. Fay Mukaddam, 4AX CEO, says: “It is a long-standing fact that the debt market is inadequately serviced, a problem that it is not isolated to South Africa.”
For decades, Nigeria's economy has been based on oil, but the government has announced plans to move away from its black gold dependence to open its economy up to diversification.
Macquarie Group has announced that its South African cash equities business has entered into a sale of shares agreement to become a majority black-owned enterprise.
Old Mutual Limited (OML) is on track with the primary listing on the Johannesburg Stock Exchange, according to Peter Moyo, Old Mutual Emerging Markets CEO and CEO designate of OML.
Citadel Investment Services has announced that from the beginning of April 2018, the company will be embarking on a new strategic partnership with equity specialists Electus Fund Managers in South Africa.
Grit, the largest and only pan-African focused real estate income group, is exploring a potential premium listing on the Main Market of the London Stock Exchange (LSE).
Even though Nairobi currently has an oversupply of retail space, Kenya’s strong growth potential is expected to generate demand in the city’s real estate sector, according to James Maclean, Director of Real Estate, Fusion Capital.
Policy stability and a welcoming investment climate are key drivers for continued growth and investments in Egypt, according to Mohamed Ebeid, Co-Chief Executive Officer of the investment bank at EFG Hermes.
Falling forex reserves and rising external debt burdens in particular weighed on sovereign risk across the continent, according to NKC African Economics.
Bujumbura (Burundi), Freetown (Sierra Leone) and Dar Es Salaam (Tanzania) will experience the fastest GDP growth over the period 2017 to 2035, according to an annual report from Oxford Economics.
Capital raised in domestic listings by African issuers increased for the second year in a row, according to research in the latest Global Cross-Border Index from Baker McKenzie.
For the last two years the Uganda financial sector has been struggling, amid sluggish economic growth and a rising portfolio of bad loans, according to Michael Kimondo, Head of Treasury Operations at Fusion.
Kenya’s longer-term growth prospects are likely to re-ignite activity in Nairobi’s real estate sector absorbing stock over the medium term, according to Gerhard Zeelie, Head of Real Estate Finance, Africa Regions for Standard Bank.