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Sub-Sahara Africa Stocks: Safaricom of Kenya, Shell Mauritius

May 16 (Bloomberg) -- Mauritius’s SEMDEX Index climbed 0.2 percent to 2,113.61 by the 1:30 p.m. close in Port Louis, the highest since at least 1989.

The Ghana Stock Exchange Composite Index jumped 1 percent to 1,167.24 at the 3 p.m. close in Accra, the highest since at least Jan. 4. Namibia’s FTSE/Namibia Overall Index rose for the second day, gaining 0.3 percent to 854.40 by the 4 p.m. close of trading in Windhoek. Kenya’s All-Share Index slid 0.2 percent to 75.74 by the 3 p.m. close in Nairobi. The Nigerian Stock Exchange All-Share Index advanced for the fifth day rising less than 0.1 percent to 25,826.50 by the 2:30 p.m. close in Lagos, according to an e-mailed statement from the bourse.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Safaricom Ltd. (SAFCOM KN), East Africa’s biggest mobile phone company, increased 10 cents, or 2.6 percent, to 4 shillings, the biggest gain since April 4, on speculation that the Nairobi-based company’s revenue and profit in the year through March will rise.

Revenue is expected to jump 14 percent to 96.1 billion shillings ($1.1 billion) while earnings per share will rise 8.6 percent to 0.415 shilling, Eric Musau, an analyst at Nairobi-based African Alliance Securities Kenya Ltd., said by phone today. African Alliance’s forecast is higher than the 0.353 shilling mean estimate by seven analysts polled by Bloomberg.

Shell Mauritius Ltd. (SHELL MP), a fuel retailer in the Indian Ocean Island nation, climbed 4 rupees, or 2.6 percent, to 157 rupees, the highest close since April 14. Net income increased 42 percent in the first quarter, to 105.2 million rupees ($3.7 million) from 73.9 million rupees, the company said in a statement after the market closed May 13. Revenue increased to 3 billion rupees from 2.1 billion rupees.

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

To contact the editor responsible for this story: Gavin Serkin at

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