Nex Rubica UK: Indexes Team – Quantitative Analyst
Siemens Brazil: Research Analyst
Letshego Holdings: Director – Group Risk and Compliance. Responsible for the Enterprise Wide Risk Management and Secretarial affairs of the group.
Letshego Holdings Ltd. LHL is listed on the Botswana Stock Exchange with subsidiaries in 7countries - Botswana, Swaziland, Tanzania, Uganda, Mozambique, Namibia, & Zambia
Letshego Holdings: Finance Director, responsible for all local / foreign, equity / debt funding
De Beers Botswana: Financial Accountant responsible for diamond dealing and prospecting activities
Fellow Chartered Management Account - UK, Fellow Certified Public Accountant - Botswana, Member of Institute of Internal Auditors - USA, Member of Information Systems Audit & Control Association - USA, Member of Institute of Directors of South Africa for Corporate Governance
Benchmark Commentary: With the Egyptian Stock Exchange (EGX) still closed, the North African constituent of the NR Africa Top 40 and NR Africa Mid 45 became more sensitive to volatility in the Sub Saharan markets. Nigeria being the major driver in the Top 40 index dropped by -1.4% over the week. Increased price volatility in the Nigerian Banking sector saw more casualties with First Bank, Zenith Bank and Guaranty Trust Bank all losing ground as investors hastily bought shares following the coming M&A activity in the sector. Kenya remained the best performing country in the Top 40 with Telcoms reporting positive numbers of about 5.5% up from last week.
The NR Africa Top 40 saw $118,56mio worth of shares traded this week with liquidity levels on the Benchmark moving up to 0.1% from a year to date high of 0.6%. The NR Africa Mid 45 was less volatile dropping -17.9712 points over the week an equivalent of $31mio. Morocco was the major country looser as it dropped by -2.1% and Industrials by -0.9%. Kenyan stocks dominated the Top 5 list with Mumias Sugar and NIC Bank breaking through this week.
Index Rebalancing Week: The NR Africa Top 40 saw El Ezz Alexandria (Egypt) exit the basket, replaced by Suez Cement (Egypt).