Bloomberg News

Sub-Saharan Africa Stocks: Sterling Bank of Nigeria, Safaricom

April 13, 2012

The Mauritius SEMDEX Index (SEMDEX) rose for a second day, increasing 0.1 percent to 1,802.8 at the close in Port Louis.

Kenya’s All-Share Index (NSEASI) fell less than 0.1 percent to 60.98 in Nairobi. The Nigerian Stock Exchange All-Share Index (NGSEINDX) was little changed at 20,743.16 as of 2:30 p.m. in Lagos, according to data compiled by Bloomberg. The FTSE/Namibia Overall Index (FTN098) rose less than 0.1 percent to 889.22 in Windhoek.

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

Sterling Bank Plc (STERLNBA) , a Nigerian lender, surged by the 5 percent daily limit to 1.26 naira, the biggest gain since Feb. 15. The Lagos-based bank said full-year profit through December rose 60 percent to 6.69 billion naira ($42 million) and announced a 10 kobo per share dividend.

Safaricom Ltd. (SAFCOM) , Kenya’s biggest mobile-phone company, jumped 1.6 percent to 3.15 shillings, the biggest gain since March 22, as Renaissance Capital raised the target price for the stock to 4.10 shillings from 3.90 shillings, Johan Snyman, a RenCap analyst, said in a phone interview today from Johannesburg.

To contact the reporter on this story: Chris Kay in Abuja at

To contact the editor responsible for this story: Stephen Kirkland at

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