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NEWS FROM AFRICA'S 100 LARGEST LISTED COMPANIES
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Africa investor Weekly Commentary – 20 May 2013
By Staff Reporter | May 20, 2013
The Ai40 Index took a slight dip this week. It lost 0.85 points, or 0.72%, to reach 116.79 – down from last week’s 117.64. According to Databank’s quarterly market research, the Ghana Stock Exchange is the best performing market in Africa in terms of returns to investors for the first quarter of this year. With returns of over 45%, it beat out South Africa, Egypt, and Nigeria. Read the rest of this entry »
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Africa investor Weekly Commentary – 13 May 2013
By Staff Reporter | May 13, 2013
For a third week running, the Ai40 Index saw a gain: it jumped 1.13% from last week’s 116.32 to reach a value of 117.64. Read the rest of this entry »
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Africa investor magazine May-June edition ranks Africa’s most investible banking brands
By Staff Reporter | May 13, 2013
Johannesburg, South Africa, 13 May 2013: Africa investor (Ai) magazine, a member of the Africa investor Group, is the leading international African investment newsstand magazine for global investment decision-makers. Read the rest of this entry »
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Africa investor (Ai) Infrastructure Investment Summit mobilises domestic capital
By Staff Reporter | May 8, 2013
Cape Town, South Africa; 8 May 2013: Africa investor (Ai), a leading international investment and communications group, yesterday successfully closed the Africa investor (Ai) CEO Infrastructure Investment Summit and Awards in Cape Town, South Africa, which gathered over 200 infrastructure investment leaders. The Summit’s theme was mobilising domestic capital and skills for infrastructure investments in Africa. Read the rest of this entry »
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African Infrastructure Investment Award winners announced at Africa investor Summit
By Staff Reporter | May 8, 2013
Cape Town, South Africa; 8 May 2013: Africa investor (Ai), a leading international investment and communications group, yesterday announced the winners for its prestigious Africa investor (Ai) Infrastructure Investment Awards 2013. Read the rest of this entry »
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African Union Chairperson to open Africa investor (Ai) CEO Infrastructure Investment Summit
By Staff Reporter | May 6, 2013
Cape Town, South Africa; 6 May 2013: Africa investor (Ai), a leading international investment and communications group, today announces that Dr Nkosazana Dlamini Zuma, Chairperson of the African Union Commission, will deliver the keynote opening address at the Africa investor (Ai) CEO Infrastructure Investment Summit and Awards. Read the rest of this entry »
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Ai Weekly Commentary – 29-04-2013
By Staff Reporter | April 29, 2013
The Ai40 Index bounced back this week after last week’s low point of 111.65. The Index jumped 1.39% to reach a value of 113.21.
Weaker-than-expected economic reports have dampened US equity markets, which closed weakly amidst some rather lacklustre trading on Friday. However, all three major indexes closed in positive territory for the week. Friday saw the Dow Jones Industrial Average record a gain of 11.64 points, or 0.08%, to close at 14,712.55. The S&P 500 Index ended 3.09 points up (0.20%) at 1,582.24 while the Nasdaq slid 10.73 points, or 0.33%, to reach a value of 3,279.26.
Going into the new week, markets will be celebrating the formation of a new Italian government and a further rate cut by the European Central Bank.
Gainers
It was a good week for South African stocks, and something of a turnaround for several of them. Sasol, AngloGold Ashanti and Anglo Platinum all turned around losing performances last week to reach gains of 4.8%, 6.9% and 4.4% respectively. Anglo American also gained 4.9%. This will surely be welcomed by the South African mining community, which has seen week after week of losses.
The real winner for the week, however, was Nigeria’s Guaranty Trust Bank, which gained a healthy increase of 9.1%. Managing Director Segun Agbaje last week had to assure shareholders that the bank will improve on cost efficiency in the current financial year to deliver better dividends but the bank also received some good news last week, having been named the ‘most customer-focused bank’ by the Africa Banking Industry Customers’ Satisfaction survey.
Losers
This week’s losers were once again a mixed bunch, although Morocco’s construction and real estate sector seemed to be especially hard hit. Real estate group Douja Prom Addoha lost 3.6%, while building materials giant Lafarge lost 6.1%. The other losers for the week were Togo’s Ecobank and Kenya’s Equity Bank, which lost 4.8% and 3.9% apiece.
Telecom Egypt fared the worst this week, losing 8.6% to reach a price of $1.82. Telecom Egypt owns a 45% stake in Vodafone Egypt, which has been particularly hard-hit by foreign exchange shortages. This is making it harder for Vodafone’s Egyptian business to buy network equipment and it has asked some suppliers to accept payment in Egyptian pounds, says its local chief executive. Telecom Egypt itself is currently in the process of converting its copper cables to fibre-optics.
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