African stock exchanges provided high returns not long ago, but investors now have to contend with a sell-off in emerging-market stocks.
For the first time in over a decade, Sub-Saharan Africa is a top priority for international funders investing in financial inclusion, with 30 percent of all active projects focused on the region.
Africa’s most popular mobile browser, Opera is about to radically change the payments landscape in Africa.
According to a recent report by PricewaterhouseCoopers, “Africa Asset Management 2020” (get your copy here) total assets under management in 12 selected Africa countries were $293 billion in 2008, more than doubling to $634bn by 2014. They are forecast at $1.1 trillion in 2020. (The 12 countries are: South Africa, Morocco, Mauritius, Namibia; Egypt, Kenya, Botswana, Ghana, Nigeria; Angola, Algeria, Tunisia).
Pensions are increasingly important as many countries set up and grow pension schemes. Mauritius and Ghana are examples of countries with 3-pillar pension systems and some countries are starting to revise their regulations to allow pension funds to invest more widely than just into domestic bonds, money market and equities
The Ethiopian Commodity Exchange (ECX) was set up with backing from the Ethiopian Government. In a very readable 2012 paper by the founder and first CEO Eleni Gabre-Madhin outlining the origins, aims and implementation of ECX, she mentions the Government backing in replacing laws so that trade in commodities including coffee (which makes up 35% of Ethiopia’s exports from 2000-2014), has to go through the exchange, and the determined resistance from those who had previously dominated the export trade.
The FTSE ASEA Pan Africa Index Series represents the performance of eligible securities listed on ASEA (African Securities Exchanges Association) member exchanges. The index series was designed after extensive market consultation to meet the needs of African market participants, and it is suitable for benchmarking purposes and as tool to be used in the creation of index-linked funds and other investment products.
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