Monthly Archives: November 2013

5 PLAYERS IN THE AFRICAN STARTUP ECOSYSTEM

    1. MESTThe Meltwater Entrepreneurial School of Technology (MEST) and the MEST Incubator provide training, investment and mentoring for aspiring Ghanaian software entrepreneurs with the goal of creating globally successful companies that create wealth and jobs locally in Africa.” An arm of the non-profit Meltwater Foundation, MEST runs a two year training program in which budding entrepreneurs learn from experienced executives, MBA students and fellow entrepreneurs about how to monetize their innovative concepts. The incubator provides seed capital, guidance and support to graduates of the training program. MEST is one route to tap into the community of African tech entrepreneurs. http://www.meltwater.org/

2. VC4Africa Venture Capital for Africa is a matchmaking platform that brings together investors and African Entrepreneurs. VC4Africa also assists entrepreneur in finding mentors and other resources. VC4Africa members host occasional meetups and networking events worldwide. The last one in Boston was about 2 years ago. https://vc4africa.biz/

 

3. iHub Nairobi

Nairobi’s Innovation Hub for the technology community is an open space for the technologists, investors, tech companies and hackers in the area. This space is a tech community facility with a focus on young entrepreneurs, web and mobile phone programmers, designers and researchers.

iHub sees as its purpose the building of an ecosystem to support the growth of Kenyan technology entrepreneurs. It boasts over 12,600 individuals and 152 companies among its membership.

http://www.ihub.co.ke/

4. African Venture Capital Association The AVCA is a member supported organization with a mission to promote private equity and venture capital in Africa. Members include institutional investors, private equity and venture capital fund managers from 62 countries. Their activities support investments of all sizes and all stages of business growth. AVCA’s research and events provide a way for US investors to learn more about the startup ecosystem and the broader African private sector lanscape. http://www.avca-africa.org/  

5. Angel Fair More an event than a organization, Angel Fair is the brainchild of Ghanaian entrepreneur Eric Osiakwan, Scottish entrepreneur Jamie Clyde, and Artlogic, an events company that produces high end boutique fairs supporting the arts in Southern Africa. The first Angel Fair took place this past September in Johannesburg. It is part of a longer conversation that included a gathering a the Bergman Center at Harvard Law School, where investors, entrepreneurs and academics discussed how to make angel investing work in Africa. http://www.angelfair.net/

English: Diagram of private equity fund struct...

English: Diagram of private equity fund structure for Private equity, Private equity fund, Private equity firm (Photo credit: Wikipedia)

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Emerging Markets Exchange Rates & Interest Rates – 22 November 2013

 

EXCHANGE RATES 11/15/2013 11/22/2013 %CHG
AMERICAS
ARGENTINA 5.9938 6.0815 -1.44%
BRAZIL 2.3140 2.2904 1.03%
CHILE 521.1350 519.2450 0.36%
COLUMBIA 1,922.4500 1927.9300 -0.28%
COSTA RICA 499.1850 498.9450 0.05%
JAMAICA 103.3300 102.9300 0.39%
MEXICO 12.9578 13.0334 -0.58%
PERU 2.7995 2.8015 -0.07%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
AFRICA
BOTSWANA 8.6096 8.5948 0.17%
COTE D’IVOIRE (CFA) 486.8140 485.0140 0.37%
GHANA 2.2650 2.2650 0.00%
KENYA 86.4500 86.6500 -0.23%
NAMIBIA 10.1690 10.0840 0.84%
NIGERIA 158.7000 158.6100 0.06%
SENEGAL (CFA) 486.8140 485.0140 0.37%
SOUTH AFRICA 10.1690 10.0840 0.84%
TANZANIA 1,608.0000 1614.0000 -0.37%
UGANDA 2,519.5000 2537.0000 -0.69%
ZAMBIA 5.5600 5.4800 1.46%
ZAMBIA-Boz Bid 5.5470 5.4818 1.19%
ZAMBIA-Boz Ask 5.5670 5.5018 1.19%
ZIMBABWE 378.0000 378.0000 0.00%
INDIA 63.2600 62.8900 0.59%
INTEREST RATES 11/15/2013 11/22/2013
UNITED STATES
3 month T-Bill 0.08% 0.07%
6 Month T-Bill 0.10% 0.10%
10 Year T-Bond 2.71% 2.75%
30 Yr Fixed Mortgage-Bankrate.com 4.48% 4.39%
30 Yr Fixed Mortgage-MBA 4.46%
AMERICAS
BRAZIL
SELIC Rate-Daily 9.40% 9.40%
MEXICO
3 Month T-Bill 3.46% 3.50%
6 Month T-Bill 3.56% 3.56%
1 Year T-Bill 3.61% 3.62%
PERU
Central Bank Reference Rate 4.00% 4.00%
AFRICA
GHANA
3 Month T-Bill 19.35% 19.01%
6 Month T-Bill 19.25% 19.36%
1 Year T-Bill 18.50% 18.00%
2 Year T-Bill 18.95% 18.20%
3 Year T-Bill
5 Year T-Bill
KENYA
3 Month T-Bill 10.00% 10.00%
6 Month T-Bill 10.56% 10.60%
1 Year T-Bond 10.99% 10.99%
4 Year T-Bond
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.20% 10.99%
182 Day Gov’t Security-PMO 12.31% 12.14%
364 Day Gov’t Security-PMO 13.37% 13.18%
SOUTH AFRICA
3 Month T-Bill 5.03% 5.06%
6 Month T-Bill 5.22% 5.15%
1 Year T-Bill 5.46% 5.42%
10.5% (2026) 8.20% 8.22%
13.5% (2015) 6.14% 6.10%
UGANDA
3 month T-Bill 10.74% 11.05%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 14.17% 14.17%
3 Year T-Bond 14.02% 14.02%
5 Year T-Bond 14.77% 14.77%
10 Year T-Bond 14.38% 14.38%
ZAMBIA
3 Month T-Bill 7.50% 7.50%
6 Month T-Bill 14.15% 14.15%
1 Year T-Bill 15.25% 15.25%
2 Year T-Bill 13.50% 14.00%
3 Year T-Bill 15.25% 15.50%
5 Year T-Bond 16.48% 16.50%
10 Year T-Bond 17.25% 18.15%
15 Year T-Bond 17.25% 18.00%
INDIA
3 Month T-Bill 8.98% 8.94%
6 Month T-Bill 8.77% 9.12%
1 Year T-Bill 8.99% 8.99%
Base Lending Rate 10.25% 10.25%
Policy Rate 8.75% 8.75%

 

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Emerging Markets Exchange Rates & Interest Rates – 15 November 2013

 

EXCHANGE RATES 11/8/2013 11/15/2013 %CHG
AMERICAS
ARGENTINA 5.9625 5.9938 -0.52%
BRAZIL 2.3368 2.3140 0.99%
CHILE 519.7100 521.1350 -0.27%
COLUMBIA 1,936.1800 1,922.4500 0.71%
COSTA RICA 500.5350 499.1850 0.27%
JAMAICA 104.5250 103.3300 1.16%
MEXICO 13.2720 12.9578 2.42%
PERU 2.8050 2.7995 0.20%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
AFRICA
BOTSWANA 8.6693 8.6096 0.69%
COTE D’IVOIRE (CFA) 491.3720 486.8140 0.94%
GHANA 2.2350 2.2650 -1.32%
KENYA 85.4500 86.4500 -1.16%
NAMIBIA 10.3538 10.1690 1.82%
NIGERIA 158.4000 158.7000 -0.19%
SENEGAL (CFA) 491.3720 486.8140 0.94%
SOUTH AFRICA 10.3538 10.1690 1.82%
TANZANIA 1,606.0000 1,608.0000 -0.12%
UGANDA 2,520.0000 2,519.5000 0.02%
ZAMBIA 5.5450 5.5600 -0.27%
ZAMBIA-Boz Bid 5.5369 5.5470 -0.18%
ZAMBIA-Boz Ask 5.5569 5.5670 -0.18%
ZIMBABWE 378.0000 378.0000 0.00%
INDIA 62.7300 63.2600 -0.84%
INTEREST RATES 11/8/2013 11/15/2013
UNITED STATES
3 month T-Bill 0.06% 0.08%
6 Month T-Bill 0.09% 0.10%
10 Year T-Bond 2.77% 2.71%
30 Yr Fixed Mortgage-Bankrate.com 4.35% 4.48%
30 Yr Fixed Mortgage-MBA 4.44%
AMERICAS
BRAZIL
SELIC Rate-Daily 9.40% 9.40%
MEXICO
3 Month T-Bill 3.47% 3.46%
6 Month T-Bill 3.55% 3.56%
1 Year T-Bill 3.60% 3.61%
PERU
Central Bank Reference Rate 4.00% 4.00%
AFRICA
GHANA
3 Month T-Bill 19.68% 19.35%
6 Month T-Bill 19.75% 19.25%
1 Year T-Bill 18.60% 18.50%
2 Year T-Bill 19.00% 18.95%
3 Year T-Bill
5 Year T-Bill
KENYA
3 Month T-Bill 9.98% 10.00%
6 Month T-Bill 10.50% 10.56%
1 Year T-Bond 10.95% 10.99%
4 Year T-Bond
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.10% 11.20%
182 Day Gov’t Security-PMO 12.29% 12.31%
364 Day Gov’t Security-PMO 13.25% 13.37%
SOUTH AFRICA
3 Month T-Bill 5.07% 5.03%
6 Month T-Bill 5.24% 5.22%
1 Year T-Bill 5.43% 5.46%
10.5% (2026) 8.07% 8.20%
13.5% (2015) 6.01% 6.14%
UGANDA
3 month T-Bill 10.74% 10.74%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 14.17% 14.17%
3 Year T-Bond 14.02% 14.02%
5 Year T-Bond 14.77% 14.77%
10 Year T-Bond 14.38% 14.38%
ZAMBIA
3 Month T-Bill 7.50% 7.50%
6 Month T-Bill 13.69% 14.15%
1 Year T-Bill 15.00% 15.25%
2 Year T-Bill 13.50% 13.50%
3 Year T-Bill 15.25% 15.25%
5 Year T-Bond 16.48% 16.48%
10 Year T-Bond 17.25% 17.25%
15 Year T-Bond 17.25% 17.25%
INDIA
3 Month T-Bill 8.56% 8.98%
6 Month T-Bill 8.77% 8.77%
1 Year T-Bill 8.58% 8.99%
Base Lending Rate 10.25% 10.25%
Policy Rate 8.75% 8.75%

 

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Emerging Markets Exchange Rates & Interest Rates – 8 November 2013

 

EXCHANGE RATES 11/1/2013 11/8/2013 %CHG
AMERICAS
ARGENTINA 5.9215 5.9625 -0.69%
BRAZIL 2.2597 2.3368 -3.30%
CHILE 512.5000 519.7100 -1.39%
COLUMBIA 1,902.6200 1,936.1800 -1.73%
COSTA RICA 499.8700 500.5350 -0.13%
JAMAICA 104.5250 104.5250 0.00%
MEXICO 13.0815 13.2720 -1.44%
PERU 2.7755 2.8050 -1.05%
TRINIDAD & TOBAGO 6.4200 6.4100 0.16%
VENEZUELA 6.2921 6.2921 0.00%
AFRICA
BOTSWANA 8.6096 8.6693 -0.69%
COTE D’IVOIRE (CFA) 486.3440 491.3720 -1.02%
GHANA 2.2250 2.2350 -0.45%
KENYA 85.4500 85.4500 0.00%
NAMIBIA 10.1689 10.3538 -1.79%
NIGERIA 158.7300 158.4000 0.21%
SENEGAL (CFA) 486.3440 491.3720 -1.02%
SOUTH AFRICA 10.1689 10.3538 -1.79%
TANZANIA 1,606.0000 1,606.0000 0.00%
UGANDA 2,523.0000 2,520.0000 0.12%
ZAMBIA 5.5100 5.5450 -0.63%
ZAMBIA-Boz Bid 5.5369 #DIV/0!
ZAMBIA-Boz Ask 5.5569 #DIV/0!
ZIMBABWE 378.0000 378.0000 0.00%
INDIA 61.8450 62.7300 -1.41%
INTEREST RATES 11/1/2013 11/8/2013
UNITED STATES
3 month T-Bill 0.04% 0.06%
6 Month T-Bill 0.08% 0.09%
10 Year T-Bond 2.65% 2.77%
30 Yr Fixed Mortgage-Bankrate.com 4.27% 4.35%
30 Yr Fixed Mortgage-MBA 4.32%
AMERICAS
BRAZIL
SELIC Rate-Daily 9.40% 9.40%
MEXICO
3 Month T-Bill 3.41% 3.47%
6 Month T-Bill 3.55% 3.55%
1 Year T-Bill 3.61% 3.60%
PERU
Central Bank Reference Rate 4.25% 4.00%
AFRICA
GHANA
3 Month T-Bill 19.89% 19.68%
6 Month T-Bill 19.87% 19.75%
1 Year T-Bill 19.00% 18.60%
2 Year T-Bill 19.30% 19.00%
3 Year T-Bill
5 Year T-Bill
KENYA
3 Month T-Bill 9.94% 9.98%
6 Month T-Bill 10.49% 10.50%
1 Year T-Bond 10.83% 10.95%
4 Year T-Bond
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.10% 11.10%
182 Day Gov’t Security-PMO 12.29% 12.29%
364 Day Gov’t Security-PMO 13.25% 13.25%
SOUTH AFRICA
3 Month T-Bill 5.05% 5.07%
6 Month T-Bill 5.24% 5.24%
1 Year T-Bill 5.39% 5.43%
10.5% (2026) 8.00% 8.07%
13.5% (2015) 5.86% 6.01%
UGANDA
3 month T-Bill 10.74% 10.74%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 12.89% 14.17%
3 Year T-Bond 14.02% 14.02%
5 Year T-Bond 13.61% 14.77%
10 Year T-Bond 14.38% 14.38%
ZAMBIA
3 Month T-Bill 7.50%
6 Month T-Bill 13.69%
1 Year T-Bill 15.00%
2 Year T-Bill 13.50%
3 Year T-Bill 15.25%
5 Year T-Bond 16.48%
10 Year T-Bond 17.25%
15 Year T-Bond 17.25%
INDIA
3 Month T-Bill 8.60% 8.56%
6 Month T-Bill 8.68% 8.77%
1 Year T-Bill 8.58% 8.58%
Base Lending Rate 10.25% 10.25%
Policy Rate 8.75% 8.75%
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Emerging Markets Exchange Rates & Interest Rates – 1 November 2013

 

 

EXCHANGE RATES 10/25/2013 11/1/2013 %CHG
       
AMERICAS      
       
ARGENTINA 5.8788 5.9215 -0.72%
BRAZIL 2.1835 2.2597 -3.37%
CHILE 505.1550 512.5000 -1.43%
COLUMBIA 1881.5800 1,902.6200 -1.11%
COSTA RICA 499.8700 499.8700 0.00%
JAMAICA 104.4750 104.5250 -0.05%
MEXICO 12.8629 13.0815 -1.67%
PERU 2.7570 2.7755 -0.67%
TRINIDAD & TOBAGO 6.4100 6.4200 -0.16%
VENEZUELA 6.2921 6.2921 0.00%
       
       
AFRICA      
       
BOTSWANA 8.4069 8.6096 -2.35%
COTE D’IVOIRE (CFA) 475.5380 486.3440 -2.22%
GHANA 2.2100 2.2250 -0.67%
KENYA 84.9500 85.4500 -0.59%
NAMIBIA 9.8213 10.1689 -3.42%
NIGERIA 158.6000 158.7300 -0.08%
SENEGAL (CFA) 475.5380 486.3440 -2.22%
SOUTH AFRICA 9.8213 10.1689 -3.42%
TANZANIA 1606.0000 1,606.0000 0.00%
UGANDA 2530.0000 2,523.0000 0.28%
ZAMBIA 5.3500 5.5100 -2.90%
ZAMBIA-Boz Bid 5.3342    
ZAMBIA-Boz Ask 5.3542    
ZIMBABWE 378.1000 378.1000 0.00%
       
INDIA 61.5950 61.8450 -0.40%
       
       
       
       
       
INTEREST RATES 10/25/2013 11/1/2013  
       
UNITED STATES      
3 month T-Bill 0.04% 0.04%  
6 Month T-Bill 0.08% 0.08%  
10 Year T-Bond 2.53% 2.65%  
30 Yr Fixed Mortgage-Bankrate.com 4.27% 4.27%  
30 Yr Fixed Mortgage-MBA 4.33%    
       
       
AMERICAS      
       
BRAZIL      
SELIC Rate-Daily 9.40% 9.40%  
       
MEXICO      
3 Month T-Bill 3.45% 3.41%  
6 Month T-Bill 3.48% 3.55%  
1 Year T-Bill 3.54% 3.61%  
       
PERU      
Central Bank Reference Rate 4.25% 4.25%  
       
AFRICA      
       
GHANA      
3 Month T-Bill 20.22% 19.89%  
6 Month T-Bill 20.38% 19.87%  
1 Year T-Bill 19.20% 19.00%  
2 Year T-Bill 19.50% 19.30%  
3 Year T-Bill      
5 Year T-Bill      
       
KENYA      
3 Month T-Bill 9.79% 9.94%  
6 Month T-Bill 10.45% 10.49%  
1 Year T-Bond 10.79% 10.83%  
4 Year T-Bond      
       
NAMIBIA      
3 month T-Bill      
6 Month T-Bill      
1 Year T-Bill      
       
NIGERIA      
91 Day Gov’t Security-OMO      
182 Day Gov’t Security-OMO      
364 Day Gov’t Security-OMO      
91 Day Gov’t Security-PMO 11.10% 11.10%  
182 Day Gov’t Security-PMO 12.29% 12.29%  
364 Day Gov’t Security-PMO 13.25% 13.25%  
       
SOUTH AFRICA      
3 Month T-Bill 5.05% 5.05%  
6 Month T-Bill 5.23% 5.24%  
1 Year T-Bill 5.35% 5.39%  
13.5% (2015) 7.75% 8.00%  
10.5% (2026) 5.71% 5.86%  
       
UGANDA      
3 month T-Bill 9.92% 10.74%  
6 Month T-Bill      
1 Year T-Bill      
2 Year T-Bond 12.89% 12.89%  
3 Year T-Bond 14.02% 14.02%  
5 Year T-Bond 13.61% 13.61%  
10 Year T-Bond 14.38% 14.38%  
       
ZAMBIA*      
3 Month T-Bill 8.00%    
6 Month T-Bill 13.50%    
1 Year T-Bill 14.24%    
2 Year T-Bill 13.50%    
3 Year T-Bill 15.25%    
5 Year T-Bond 16.48%    
10 Year T-Bond 17.25%    
15 Year T-Bond 17.25%    
       
INDIA      
3 Month T-Bill 8.77% 8.60%  
6 Month T-Bill 8.68% 8.68%  
1 Year T-Bill 8.71% 8.58%  
Base Lending Rate 10.25% 10.25%  
Policy Rate 9.00% 8.75%  

*Zambia central bank data currently unavailable.

 

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Major Latam Stock Indexes and Exchange Rate Changes in Q3-2013

 

 

Advansa International follows exchange rates and stock market indexes for several emerging and frontier markets. Exchange rates and stock indexes are recorded on the last trading day of the week. The tables below show changes from the last trading day of the last full week of the quarter for several key markets in Latin America, and the Caribbean.

Table 1 

 STOCK MARKET INDEX TRACKER3RD QUARTER 2013

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QUARTER PCT CHANGE

ARGENTINA MERVAL-Local Currency

61.52%

ARGENTINA MERVAL-US$

54.47%

BRAZIL BOVESPA-Local Currency

19.30%

BRAZIL BOVESPA-US$

17.30%

COLUMBIA IGBC-Local Currency

11.39%

COLUMBIA IGBC-US$

12.25%

JAMAICA MAIN INDEX-Local Currency

-1.81%

JAMAICA MAIN INDEX-US$

-3.80%

MEXICO-Local Currency

-0.72%

MEXICO-US$

-1.57%

MSCI LATIN AMERICA-Local Currency

5.95%

MSCI LATIN AMERICA-US$

4.71%

MSCI EMERGING MARKETS-Local Currency

6.26%

MSCI EMERGING MARKETS-US$

6.33%

Sources: Stock exchangewebsites, Financial Times, Advansa International data

 

Table 2

3RD QUARTER 2013 EXCHANGE RATE CHANGE

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QTR PCT CHG

YTD

SEP PCT CHANGE

ARGENTINA

-7.04%

-15.16%

BRAZIL

-2.00%

-9.31%

CHILE

0.70%

-4.70%

COLOMBIA

0.86%

-7.70%

COSTA RICA

-0.11%

1.95%

JAMAICA

-1.99%

-10.11%

MEXICO

-0.85%

-1.16%

PERU

0.18%

-8.23%

TRINIDAD & TOBAGO

-0.16%

-0.01%

Sources: Financial Times, Advansa International data

 

Table 1 shows stock market returns for several markets through September 27, 2013. Several of the regions stock markets posted strong gains, consistent with the MSCI index which rose almost 6% in local currency. The Merval exchange in Argentina was up 61% for the quarter driven by big gains by YPF, Tenaris, and Grupo Financiero Galicia, which are among the volume leaders in that market. The Bovespa in Brazil was up 19% as most major issues registered big gains.

Exchange rates changes were small in Q3 except for Brazil whose economy has slowed considerably and Argentina where persistent inflation has lead to continued weakness in the peso.

In Mexico the peso has fluctuated within a narrow range, declining slightly this quarter as money market rates have fallen, however it is not clear that the pattern has changed appreciably.

 

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