Author Topic: KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA  (Read 9670 times)

Offline Prince

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KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA
« on: January 07, 2011, 01:12:20 PM »
Kenya Stock Exchange overtakes Nigeria’s as best in Africa
By OMODELE ADIGUN
Friday, January 07, 2011

The crisis rocking the Nigerian Stock Exchange(NSE) has started hitting its performance as the market has lost its enviable position on the continent to the Kenya Stock Exchange.

Investigation has shown that Kenya was the best performing market in Africa for 2010 financial year with a gain of 36.5 per cent followed by Ghana with a gain of 35.9 per cent, Morocco was third with 22.1 per cent. Tunisia came fourth with a gain of 19.1 per cent , while Nigeria came a distant fifth performing market in Africa with a gain of 18.9 per cent. South Africa is the market with the largest size in Africa with a market capitalization of approximately $957 billion as of December 31, 2010 while Egypt is adjudged the most innovative

Africa currently has 29 exchanges representing 38 countries . Angola has been tipped as closest in line to be the next African Stock Exchange. South Africa, Egypt and Nigeria account for 75 per cent of companies listed on the continent as of 2010.
The NSE, widely perceived as Africa’s biggest emerging market, is home to about 264 securities with 12 transaction floors located in major commercial cities in the country. These exchange floors are currently in Abuja, Benin City, Kaduna, Kano, Ibadan, Ilorin, Onitsha, Owerri, Port Harcourt, Uyo and Yola, while Lagos remains the headquarters.
The high point of the Exchange was 2008 when the NSE All-Share Index soared to an all time high of 66,371.21 basis points and market capitalization hit N12.64 trillion on March 5, 2008. The All Share Index is a measure of the market’s performance .

Today the Index is at its low following a prolonged and persistent fall in stock prices after the market crash in 2008 when investors lost over N7 trillion.
Commenting on this , Mr Jude Fejokwu, a principal analyst with Thaddeus said online that Kenya, Ghana, Morocco, Tunisia, Nigeria, South Africa and Mauritius may be the key plays for Africa in 2011.
His words: “We expect all the seven markets’ performance to equal or exceed 15 performance by the end of 2011.

Countries that will experience currency appreciation against the dollar in 2011 have a better chance of outperforming markets with unchanged exchange rates or depreciating currencies. Look out for MENS (Morocco, Egypt, Nigeria and South Africa) to receive the majority of foreign inflows of portfolio investment into Africa over the next three years at a minimum. We do not expect them to have the best market performance in Africa over this period for reasons we will not go into here.”

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KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA
« on: January 07, 2011, 01:12:20 PM »

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Offline Prince

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Re: KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA
« Reply #1 on: January 07, 2011, 01:12:45 PM »
What a shame.

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Offline MathewBracken

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Re: KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA
« Reply #2 on: January 10, 2011, 07:17:15 AM »
Great tips.  Thanks for good stock exchange.
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Offline IKOFX

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Re: KENYA STOCK EXCHANGE OVERTAKES NIGERIA’S AS BEST IN AFRICA
« Reply #3 on: August 08, 2011, 01:32:52 AM »
Integrity is the watchword of the Stock Market operators.   In order to remain successful, the public trust must grow tremendously to gain more investors. 

Please feel free to come and visit our FB page for more latest news and updates that will help you guys to improve your decision making.
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