From BDlive

African bourses from Côte d’Ivoire to Kenya are forecasting an increase in share sales next year as a rally in stock markets ends a drought in initial public offerings (IPOs).

The Abidjan-based Bourse Regionale des Valeurs Mobilieres, which trades securities from eight West African countries, is set for its first new listings since 2010 with two Senegalese companies, chairman Gabriel Fal has said.

The Stock Exchange of Mauritius may see 15 offerings, while the Nairobi Securities Exchange is predicting five.

“We have been through a very severe crisis since 2008, especially in the exchange industry,” Mr Fal said.

“It’s important that we get new companies, new names.”

The main indices of Kenya, Nigeria and Ghana are among the world’s 10 best performers this year, with investors seeking higher returns as the US Federal Reserve’s monetary stimulus programme pushed buyers into emerging markets, seen as riskier.

Kenya’s all-share gauge led the African rally, adding 47% this year to be the world’s fifth-best performer.

Written by Olivier Monnier | Read more at BDlive