Egypt has temporarily listed three state-owned petroleum companies on the Egyptian Exchange as part of its State Ownership Offerings Programme. The companies include Engineering for the Petroleum and Process Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB), and Petroleum Marine Services, alongside Al Maamoura for Real Estate Development and Tourism. Authorities say the move is a preparatory step ahead of planned public offerings aimed at attracting investment and deepening the country's capital markets.
Meanwhile, The Nairobi Securities Exchange has welcomed the listing of the Trific Green USD Income REIT, Kenya's first US dollar-denominated green REIT. The listing raised KSh4 billion, surpassing its target with a 103.3% subscription rate, highlighting strong investor appetite for sustainable investment products.
Turning to the markets, Kenya’s NSE edged up 0.18%, while South Africa’s JSE gained 0.47%. Egypt’s EGX bucked the trend, declining 1.03%. In soft commodities, cocoa fell 1.59%, while sugar climbed 2.00%.
The new week begins with fresh momentum in Africa's capital markets, as countries continue to expand investment opportunities and attract new pools of capital. We'll be following the stories shaping business, finance, and economic growth across the continent
