In many ways the initial public offering of the Kenya Electricity Generating Company (KenGen) in 2006 was a watershed in the history of the country's capital markets. It was the first big flotation in a decade in a market thirsting for new offers by the government since the Kenya Airways share issue in 1996.

Demand for Safaricom shares is expected to remain high after it is listed, influenced by a subscription level of about 400 per cent.

The governor of Zimbabwe's Reserve Bank, Gideon Gono, has been showing his true colours recently.

Despite dominating Kenya's mobile phone market with an 80 percent share, there is still plenty of room for Safaricom to grow its revenue and subscriber base even as competitors multiply.

My tenure as the chairman of the Nairobi Stock Exchange ends next month and I am not seeking re-election.

A NUMBER of the nonexecutive directors at the JSE experienced a rise in pay of more than 20%, according to its annual report.

NOT being a trader in shares, I don't often bother to look at the Stock Exchange News (Sens) on the day the reports appear. I review the full list before I begin writing each day. As it happened, yesterday I made a general comment on the latest results of the food producers that are the constituents of the JSE food index.

The decision by the Capital Markets Authority (CMA) to carry out a forensic audit on claims lodged by clients of troubled Nyaga Stockbrokers prior to payment is not only laudable, but healthy for Kenya's capital market.

Kenyans insurance firms have for long had a healthy appetite for investment risks in property and shares.

The Mozambican government on Tuesday announced the sale of 10 per cent of the shares in the publicly-owned Mozambican Hydrocarbon Company (CMH) - but only Mozambican individuals or companies may purchase the shares.

Whatana Investments, a company chaired by Mozambique's former first lady, Graca Machel, has taken a five per cent stake in Vodacom Mozambique (VM), one of the two mobile phone operators in the country.

THE Lusaka Stock Exchange (LuSE) has bemoaned growing speculation on the capital market lately, which has resulted in 16 per cent share index fall for the month of April.

Anxiety is building in the capital markets following reluctance by the Nairobi Stock Exchange (NSE) board to renew chief executive Chris Mwebesa's contract, at a time when speculation is rife about the unexplained delay in the appointment of the Capital Markets Authority (CMA) chief executive.

THE JSE's annual report provides evidence that long-term incentive schemes should not be linked to the share price.

As the Federal Government is set to release about N400 billion of excess crude oil revenue into the economy tomorrow, Minister of State for Finance, Mr. Remi Babalola, has warned that the money, if not properly budgeted for, may crash the momentum the economy has gained over the years.

The deadline for investors to lodge claims for their shares in Nyaga Stockbrokers Limited will not be extended, the managers of the cash-strapped firm have said.

The stock market recorded rebound last week as the value of equities listed on Nigerian Stock Exchange (NSE) appreciated by N692.50 billion. This was evident in the rise of the market capitalisation, from N11.43 trillion at which it opened the week to close at N12.12 trillion.

JSE CEO Russell Loubser's remuneration package grew 119% in the previous financial year to R13,1m, under an accelerated payout of the JSE's long-term incentive scheme.

Despite being assured of making at least Sh50 billion from the yet-to-be concluded Safaricom IPO, the Government is back on the market seeking to borrow at least Sh7 billion through the monthly Treasury bonds auction.

LOCAL markets will take their cue from a Reserve Bank report this week, which may shed light on how much further interest rates will rise this year, and the extent to which the inflation outlook has deteriorated.

Last week we saw how essential the capital markets are in the massive build-up of local capital geared to eventually getting us off the path of donor dependency.

Over 100,000 investors who had bought shares through Nyaga Stockbrokers, which is currently under statutory management, are yet to file their claims with the statutory managers.

Filing of claims for the collapsed Nyaga Stockbrokers will today shift to the more spacious KICC grounds as the statutory managers race to meet their deadline.

WITH all the uncertainty locally and internationally relating to currencies, markets, commodities, politics, and inflation and, and, and ... I do hope that I am able to resume my role as a financial adviser and financial nanny soon, as I spend most of my time now being a financial shrink!

THE race is on again between the prices of oil and gold. Oil is in the lead, but my gut-feel is that gold is ready to move up.