Bloomberg News

Sub-Sahara Africa Stocks: Oando of Nigeria, Safaricom of Kenya

January 09, 2012

Jan. 9 (Bloomberg) -- Mauritius’s SEMDEX Index fell for the first time in five days, retreating 0.3 percent to 1,888.38 by the end of trading.

Kenya’s All-Share Index rose for a third day, gaining 0.1 percent to 55.31 in Nairobi. The Nigerian Stock Exchange All- Share Index climbed 0.4 percent to 20,802.33 in Lagos, according to an e-mailed statement from the bourse. The FTSE/Namibia Overall Index slid less than 0.1 percent to 860.75 in Windhoek.

The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Oando Plc (OANDO NL), a Nigerian oil company, fell for a second day, dropping 3.3 percent to 21 naira. Nigerian trade unions began a nationwide strike to protest surging gasoline prices and oil dropped a third day in New York.

Safaricom Ltd. (SAFCOM KN), east Africa’s biggest mobile- phone operator, gained for a second day, advancing 3.3 percent to 3.1 shillings after an industry regulator announced it added more customers than competitors did.

  “Increased trading on Safaricom is expected as investors react to the regulator’s released statistics,” Nairobi-based Kestrel Capital East Africa Ltd. said in an e-mailed note to clients today. “The counter closed with pent up demand at the 3 shilling level on Friday.”

--Editors: Peter Branton, Wojciech Moskwa

To contact the reporter on this story: Chris Kay in Abuja at ckay5@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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