Browsing: New York Stock Exchange (NYSE)

Remarks by Governor Kganyago Lesetja at the Johannesburg Stock Exchange (JSE) and New York Stock Exchange (NYSE) market close event. JSE/NYSE signed an MOU to foster ties & increase economic partnerships & trade opportunities.

The agreement was finalized during a visit to the NYSE by a South African delegation including JSE Group CEO Dr. Leila Fourie and South African Reserve Bank Governor Lesetja Kganyago. The signing ceremony took place shortly before the delegation rang the Closing Bell, followed by a keynote address by Kganyago on monetary policy.

“The New York Stock Exchange is pleased to sign this collaboration agreement with the Johannesburg Stock Exchange in support of the important economic and trade relationship between our two markets,” said Lynn Martin, NYSE president.

“Exploring the dual listings of companies on our two exchanges stands to increase opportunities for investors on both continents, underscoring the value public companies and our capital markets generate in the global economy. We look forward to collaborating on new product development with the JSE team and to the innovation that comes when two great organizations work together.”…

Is Jumia Stock Price the main reason as to why investors are losing out?

Well, Jumia Technologies, the German company that provides e-commerce services to about 12 African counties had its shares surge to more than 500% over the past 12 months, boosting its market cap to about $3.25 billion, or 15 times next year’s sales.

Jumia countries of operation

It is currently operating in Algeria, Cote d’Ivoire, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Tunisia, and Uganda.

The rise of Jumia

Jumia impressed investors with its robust gross merchandise volume (GMV) and revenue growth in 2018.

In April 2019, the leading pan-African e-commerce platform officially announced its listing on the New York Stock Exchange.

Founded in 2012, Jumia leveraged technology to deliver innovative, convenient and affordable online services to consumers.

Jumia Growth

After announcing its listing on the New York Stock Exchange, Jumia did well, attracting investors.

However, …

The Coca-Cola Company has announced it will maintain its majority stake in Coca-Cola Beverages Africa (CCBA) for the foreseeable future.

With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019 in accordance with U.S. accounting standards, the firm has confirmed.

CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017.

Coca-Cola previously announced its intention to refranchise CCBA, which is the largest bottler of Coca-Cola beverages in Africa, serving 12 countries. The company has had discussions with a number of potential partners.

“Coca-Cola Beverages Africa is a very important part of the Coca-Cola system, and we see great opportunities to create even more value,” said Coca-Cola President and Chief Operating Officer Brian Smith.

“While we remain committed to the refranchising process, we believe it’s in the best interests …