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ABOUT AFRICAN CONTINENT

AND ITS STOCK EXCHANGES


 Second largest and 2nd most populous
continent in the world.
 46 countries and 7 islands included.

Stock exchanges:-
Botswana Stock Exchange, Ghana Stock
Exchange, Nairobi Stock Exchange,
Malawi Stock Exchange, Casablanca Stock
Exchange, Nigerian Stock Exchange,
JSE Securities Exchange, Lusaka Stock
Exchange, Zimbabwe Stock Exchange.
GHANA STOCK EXCHANGE

 The exchange was incorporated on 1989


 30 listed companies,2 corporate bonds
 Criteria's:
> Capital adequacy.
>Profitability.
>Spread of shares.
>Management efficiency.
> Years of existence.
History

 6th best index performing emerging


stock market -1993
 Manufacturing and Brewing sectors –
currently dominate the exchange
 Listed companies that fall:
>Banking
>Insurance
>Mining& Petrolieum
Continue…………….

 8% with holding tax on dividend income.


 Capital gains on securities will exempt from tax.
 No exchange control regulation on remittance of:
>original investment capital
>capital gains
>dividends .
> interest payments.
>Returns
Working hours

 The exchange has pre-market


sessions from 09:30am to 10:00am.
 Normal trading sessions from
10:00am to 12:00noon.
 Sundays and holidays declared by
the Exchange in advance.
INDICES

 GSE ALL SHARE INDEX.

>All listings are included in the


main index.
JSE SECURITIES EXCHANGE

 Largest stock exchange in Africa.


 Situated in the corner of Maude
Street and Gwen Lane in Sandton.
 JSE is planning to create a pan-
African exchange.
History

 The Johannesburg Exchange & Chambers Company -


Benjamin Minors Woollan .
 JSE Securities Exchange was born on November 8, 1887.
 1903- Changes the function in Hollard Street.
 a member of the Federation International Bourses de
Valeurs (FIBV).- 1963.
 JSE took up residence at 17 Diagonal Street-1978
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 An active member of African Stock


Exchanges Association- 1993.
 In September 2000- moved to its
present location in Sandton.
 Changed the official name - JSE
Securities Exchange.
 Replacing the JSE's trading system
with that of the LSE – 2001.
Working hours
 JSE's normal trading sessions are from 09:00am
to 05:00pm
 Sundays and holidays declared by the Exchange
in advance.

 INDICES

AltX.-Alternative exchange
The South African Futures
Exchange
 Safex consist of :
> financial markets division (equity
derivatives
> an Agricultural Markets Division
(AMD) - agricultural derivatives.
 Experienced a growth of 10.36 million
contracts- 1996/97 .
 The Exchange is directed by an executive
committee- 11 Members.
History

 Establish the South African Futures Exchange


(Safex) and the Safex Clearing Company
(Safcom)-September 1998.
 Safcom takes over operation of the informal
futures market from RMB-April 1990.
 Enabling legislation- Auguest 1990.
 non-residents can participate on Safex via the
Financial Rand system-october 1991.
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 Safex Agricultural Derivatives Division


opened.-January 1995.
 Individual equity options introduced on
the six largest equity counters.-
September 1997.
 Options introduced on agricultural
products.-March 1998.
 New Government Bond Index launched
(GOVI)-July 2000.
Continue……..

 Individual Equities contract listed has


increased to 49- August 2000
 Safex and JSE members agree to
buyout of Safex by JSE Securities
Exchange-May 2001.
WORKING HOURS
 9 AM TO 5 PM
Botswana Stock Exchange
 About Botswana Stock Exchange :-
 Established: 1995
 Headquarters : Gaborone
 Company listed: 35
 Working hours in a day: 1 hour ( 9.30 am
to10.30am)
 Privet investors: under 10% of total market
capitalization
INDISES OF BOTSWANA
STOCK EXCHANGE
 3 stock indices :
1.Domestic company index
2.Foreign company index:
 Incorporated company which are duel listed BSE
and other stock exchange.
 3. All the company index:
 Which is weighted average of the DCI and FCI.

Malawi Stock Exchange

 Inaugurated in March 1995.


 Modest Market listing
 Membership:-Corporate and individual.
 Operates under the act of:
> Capital Markets
Development Act of 1990 .
>Capital Market
Development Regulations of 1992.
History.

 Started in 1994.
 Situated in Blantyre city.
 1996-Commenced its initial operation.
 Only one licensed broker.
 Functioned under RBM.
 Member of African Stock Exchange
Assocciation.
Indices.

It has three indices:

>The Malawi Domestic Share


Index.
>The Malawi Foreign Share
Index.
>The Malawi All Share Index.
Working hours.

 Trading occurs to Monday to


Tuesday.
 Trading time- Starting every day at
11 am

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