According to the African Stock Exchanges Focus Report by Oxford Business Group, African stock exchanges have an overall market capitalization of about $1.6 trillion which makes up about 2% of the global stock market capitalization.
African sovereigns will continue to face steep borrowing costs in the international market in the near term due to attractive rates on offer in the US financial market, complicating efforts to retire maturing Eurobonds for several states in the next two years.
Societe Generale has signed two agreements with Vista Group which plan the total divestment of Societe Generale group’s shares in its local African subsidiaries: Société Générale Burkina Faso and Banco Société Générale Moçambique, currently owned at 52.6% and 65% respectively.
Societe Generale has signed agreements with two pan African banking groups for the sale of its subsidiaries in Congo and Equatorial Guinea to Vista Group, and its subsidiaries in Mauritania and Chad to Coris Group.
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