{"id":396283,"date":"2011-04-25T10:39:14","date_gmt":"2011-04-25T10:39:14","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/25\/south-african-investors-show-interest-in-nations-economy\/"},"modified":"2011-04-25T10:39:14","modified_gmt":"2011-04-25T10:39:14","slug":"south-african-investors-show-interest-in-nations-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/25\/south-african-investors-show-interest-in-nations-economy\/","title":{"rendered":"South African Investors Show Interest in Nation’s Economy"},"content":{"rendered":"
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\"This<\/a><\/p>\n

By Goddy Egene<\/p>\n

25 April 2011<\/p>\n

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The Nigerian capital market would soon witness an upsurge in activities as South African firms are planning to swoop on listed securities in the market.<\/p>\n

This indication came last week when the Chief Executive Officer of Financial Services Board (FSB), Mr. Dube Tshidi spoke to THISDAY during the 36th Annual Conference of the International Organisation of Securities Commissions (IOSCO) in Cape Town, South Africa.<\/p>\n

Financial Services Board (FSB) is the South African financial industry regulatory body.<\/p>\n

According to him , South African companies and investors who have seen many investment opportunities in the Nigerian market are making various arrangements to access the market.<\/p>\n

“You may have a thin view of the opportunities in your(Nigeria) market, but we in South Africa see very huge opportunities and I can tell you that investors are making efforts to tap into those opportunities. At the regulatory level, the FSB and Securities and Exchange Commission (SEC) of Nigeria are cooperating to facilitate the flow of funds between the two markets,” Tshidi said.<\/p>\n

Currently, one Southern company, Pinnacle Point Group is listed on the Nigerian Stock Exchange (NSE), while Oando Plc, which has its primary listing on the NSE is also listed on the Johannesburg Stock Exchange (JSE) Limited.<\/p>\n

Tshidi noted that going forward, there would be more cross boarder listings between the two countries.<\/p>\n

He noted that aftermath of the global financial crisis, foreign investors were looking in the direction of Africa capital markets to invest their money for good returns and safety.<\/p>\n

“If you notice, the African markets have been relatively stable compared to the developed countries. Apart from higher returns investors get when they invest in Africa, experience has shown that our markets are safer. Hence, the growing interest and given the crisis in Egypt, South Africa and Nigeria are the leading markets foreign investors are eyeing,” he said.<\/p>\n

In terms of regulations, Tshidi said, African markets were rated very high, saying that FSB is now regarded as the number one in the World, beating the United Securities Commission, which was number one last year.<\/p>\n

The FSB boss noted that the recognition was not for South Africa alone but for other regulators in Africa. He said FSB would continue to share its experience with other securities regulators as part of efforts to improve the markets in the continent in terms of regulation.<\/p>\n

In apparent recognition of the importance of the emerging markets in Africa, IOSCO last week decided to have a new structure that would enable regulators from emerging markets play leading role in the affairs of the world organisation.<\/p>\n

Responding to the development, Chairman of the Presidents’ Committee and Deputy Executive Officer of the FSB of South Africa, Mr. Bert Chanetsa, had said: “I am pleased, as Chairman of the Presidents’ Committee, to have presided over the historic decision by members to endorse future structural changes to the organisation to enable it to face the regulatory challenges in the coming years. These structural changes will allow IOSCO to operate in a more responsive and coordinated fashion to meet the increasing weight of expectation placed upon it by organisations such as the G20 and the Financial Stability Board. We have embraced the challenges posed by the recent financial crisis and have emerged a stronger body as a result.”<\/p>\n

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\nSouth African Investors Show Interest in Nation’s Economy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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