S&P Dow Jones Indices expands African index family

By Staff Writer | Africa Global Funds September 13, 2017
Kenyans walk in the business district in Nairobi.

S&P Dow Jones Indices (S&P DJI), an index provider, has expanded its African index coverage with the launch of the S&P Extended East Africa BMI.

The new index seeks to measure the performance of companies from five East African markets—Kenya, Malawi, Rwanda, Tanzania, and Uganda.

S&P DJI’s Africa index coverage now includes 17 equity markets in total.

The East African indices fall under the S&P All Africa Index Family, a comprehensive benchmark for the African continent.

S&P DJI’s extensive coverage of the continent allows for a consistent framework to measure the performance of a wide range of African markets.

Michael Orzano, Head of Equity Indices, S&P Dow Jones Indices, said: “We are excited to offer market participants this expanded data set. The launch of these new East African indices underscores our commitment to the region and highlights S&P Dow Jones Indices’ unique coverage and historical index data on African equity markets.”

“The S&P All Africa Index Family includes indices such as S&P Kenya 10, which seeks to measure the largest and most liquid securities in Kenya, similar to the core exposure offered to Nigeria and South Africa as measured by the S&P Nigeria Select and S&P South Africa 50,” he said.

The 17 African equity market indices that S&P DJI calculates are: S&P Botswana BMI, S&P Cote d’Ivoire BMI, S&P Egypt BMI, S&P Ghana BMI, S&P Kenya BMI, S&P Malawi BMI, S&P Mauritius BMI, S&P Morocco BMI, S&P Namibia BMI, S&P Nigeria BMI, S&P Rwanda, BMI S&P South Africa BMI, S&P Tanzania BMI, S&P Tunisia BMI, S&P Uganda BMI, S&P Zambia BMI, and S&P Zimbabwe BMI.

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