Chairman King » JSE

Old Mutual May Raise Stake in Nigeria’s Oceanic Bank

Staff Writer — Tue, 19 Jan 2010 13:40:57 +0000

Old Mutual Plc said its South African private equity unit is considering increasing its 1.7% stake in Oceanic Bank Plc, one of 10 Nigerian banks bailed out by the Central Bank of Nigeria (CBN) last year. Old Mutual’s buyout division “has been in discussions with various regulatory bodies, including the Central Bank of Nigeria, as well [...]

African Billionaires – Introduction

Staff Writer — Sat, 02 Jan 2010 13:28:57 +0000

The most reliable route to riches in Africa once lay via politics and “public” service. No surprise, since the state in many of sub-Saharan Africa’s 48 countries controlled the principal levers of the economy in the decades following independence. Nigeria’s military rulers, with absolute powers over oil earnings, were among the best endowed. But the considerable [...]

Dubai Makes South Africa’s Johannesburg Stock Exchange (JSE) a ‘Gloomy Place’

Staff Writer — Fri, 27 Nov 2009 21:52:15 +0000

he Johannesburg Stock Exchange (JSE) was red all over on Friday as investors cut their losses following revelations about the magnitude of debt problems in Dubai. During mid-morning trading on Friday, the JSE All-Share Index was 2.16% down at 26,441 points. The Financial 15 and Industrial 25 indices were down 2.21% and 1.32% respectively. The [...]

Naked Short Selling Should Not Be An Issue of Concern for the South African Hedge Fund Industry, Says Alternative Investment Management Association (AIMA)

Staff Writer — Wed, 11 Nov 2009 18:33:56 +0000

Investopedia naked short selling as: “The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. But due to various loopholes in the rules and discrepancies between paper and electronic trading systems, naked [...]

South African Hedge Funds Poised for Next Stage of Growth, Says Hedgeweek

Staff Writer — Wed, 14 Oct 2009 14:54:49 +0000

It has been a difficult year for all involved in the financial services sector, but recovery, albeit slow, seems to be on the horizon. For South Africa, the impact of the crisis has been much less than that experienced in other counties such as the US and the UK, and its alternative investment sector has [...]

South African Hedge Fund Industry Presents a Compelling Case through Global Downturn, Says Hedgeweek

Staff Writer — Tue, 13 Oct 2009 14:53:02 +0000

South Africa’s market architecture has withstood the seismic shocks unleashed by the global financial market collapse. While the rest of the world, including the in-favor quartet of Brazil, Russia, India and China, dusts itself off and revisits the drawing board, South Africa is ready to capitalize on its solid foundation and prudent construction in an [...]

Oando Venture to Develop Gas Facilities in Ghana

Staff Writer — Fri, 09 Oct 2009 14:14:28 +0000

Oando Plc, Nigeria’s biggest independent energy company, Saipem SpA and Modec-Itochu of Japan will develop gas facilities in Ghana in a project estimated at $1 billion. Oando is the lead developer in the group of companies, which are in a joint venture with Ghana National Petroleum Corporation (GNPC), the state-owned oil company. “The scope of [...]

VIDEO: CNBC Interview with Russell Loubser, CEO of the Johannesburg Stock Exchange (JSE); JSE Plans to Buy Stake in the Stock Exchange of Mauritius (SEM)

Staff Writer — Tue, 25 Aug 2009 13:03:05 +0000

Nedbank Buys Out Imperial Bank for $226 milion

Staff Writer — Sat, 15 Aug 2009 01:31:46 +0000

South Africa’s No. 4 bank Nedbank has agreed to buy Imperial Holdings’ 49.9% stake in their joint-owned asset financier Imperial Bank for R1.8 billion ($225.7 million) to boost Nedbank’s vehicle finance business. Imperial Bank provides loans for vehicles and property and has access to Imperial’s network of car dealerships. Nedbank said it would settle up to [...]

Foreigners Flock to the Nairobi Stock Exchange (NSE) as Local Investors Flee

Staff Writer — Wed, 12 Aug 2009 04:46:50 +0000

The rising cost of living and waning confidence of local investors in the Kenyan stock market have triggered major re-alignments at the Nairobi Stock Exchange (NSE), and appears to have put foreigners in control of trading volumes. Market trading data show that as locals have slowly pulled back from investing in the Nairobi Stock Exchange since [...]