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FBC launches CASE 2013 handbook

by financial express
30 May 2013 at 07:30hrs | Views
Following the mini bull run since the beginning of the year, the ZSE is once again the biggest bourse by market capitalisation among the four markets covered by the CASE Handbook, FBC Holdings chairman Herbert Nkala told guests at the launch of 2013 edition.

"The market capitalisation of the ZSE on Friday was $5.55 billion, and if we include the shares held on global registers, the ZSE is now valued at over $6 billion, and is once again the biggest bourse in the four countries." Botswana is the next largest at just under $5 billion.

He noted that while the Industrials index closed up 4.5% in 2012, the index was now up 39% in the year. Among the other countries in the region, Botswana, Malawi and Zambia are all up around 15%. The Nigerian market has gained 36.4% in the year to date.

"Interestingly, the Kenyan market is up 33.8% and many parallels have been drawn between our two countries in recent months," he said in reference to the recent poll where Uhuru Kenyatta beat Raila Odinga, who went on to contest the result in the Supreme Court.

"So there is something of an African renaissance in our stock markets," he said, noting the rally in the blue chips was still to extend to the second liners, which he said should provide the ZSE with an "additional boost" when valuations on blue chip counters become to expensive.

Nkala noted while the value traded on the ZSE in 2012 declined by 6.1% to $447 million, it was still four times the amount traded in Botswana. Delta also overtook FNB Botswana during 2012 to become the highest valued company in the region at $1.2 billion at year end, and is currently capitalised at $1.8 billion.

FBC recorded share price rises in both 2011 and 2012, he said. As of Monday, FBC was up 6.3% in the year to date, and 33% higher than a year previous, which he noted was significantly ahead of inflation.

Nkala said FBC was still planning a merger between its Bank and Building Society within the next month in order to achieve the RBZ minimum capital requirement of $50 million by June 30.

Dubbed the Corporate Event of the Year, FBC Mastercard brand ambassador Oliver Mtukudzi entertained guests while Kenya Airways provided two Business Class tickets to London.

The CASE Handbook profiles over 130 companies in central southern Africa and focuses on prospects in the year ahead. It is the only single source of information that lists the most recent financial results, the 2012 share price performance and volumes traded.

"We see the CASE Handbook as increasingly becoming a book of record, where companies have an opportunity of showcasing their assets. It is an aggregated information resource that is not available from other media on the internet," Nkala added.

Published by New Zanj, the CASE also lists stockbrokers and custodial services in the four markets and is intended to inform rather than advise potential investors of company prospects. 

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Source - financial express