about sphere

Why NR Indexes

  • User friendly - consistent formatting and categorization across all exchanges
  • Access timely information on new issues, including prospectuses, summary of transaction    terms.
  • Extensive market data and analytics to help identify arbitrage opportunities, for portfolio tracking and risk management by Fund managers.
  • Due diligence and valuation appraisal
  • Identifying strengths /weaknesses by speaking with management and our local network when relevant.
  • NR Indexes provides a comprehensive mapping system, giving the user the option of identifiers such as ISIN and CUSIP*, as well
  • NR Indexes can provide users with access to a new index in te shortest possible time –invaluable for test trading a new market.
  • Rigorous checks and validation are carried out both at index and constituent companies

Missing data is checked and cleaned

Corporate actions are checked and validated

Indices are recalculated to cross check the composition

  • Tools to ensure a higher chance of outperforming the index – p&l revaluation
  • Risk reporting support to run alongside our centralized trade repository to aid Fund and Asset managers monitor portfolio and aggregate risk.
  • Eliminate the more humdrum tasks of the IT department; free up the staff for more important projects; and save money in the process.


In addition, the Index Company provides ongoing support and consulting to institutions looking to develop solutions like Exchange Traded Funds and other listed derivatives for their Africa focused Investors.

Through our core expertise in providing bespoke Index Products that meet international regulatory requirements, our strategy is to deliver solutions for Funds and Fund of Hedge Funds focusing on emerging markets.


For Benchmarks, Style Indexes, Methodologies & Market Data enquiries, email us at This email address is being protected from spambots. You need JavaScript enabled to view it.




CEGX | ZAR | 95.4 | +12%
GXAFR | USD | 33.3 | -10%

In the Press & Commentary

(NR Capital) Apr 2017 - African Business Magazine: Why the smart money is heading for African infrastructure

(NR Capital) Jun 2016 - CNBC: The state of infrastructurre developement in Senegal

(NR Capital) Nov 2013 - Nex Rubica Capital presents at the Thomson Reuters 3rd Annual Tradng Africa Summit in Cape Town, South Africa

(NR Capital) Nov 2013 - Nex Rubica Capital panelist at the Inaugural of South African Competiveness Forum an Initiative by Brand South Africa

(NR Capital) Sep 2013 - Triple A Frontier Investments & South African Petroleum Industry Assosiaction Funding Workshop supported by Nex Rubica Capital (Pty) South Africa

(NR Capital) Aug 2013 - Elidata signs with Nex Rubica Capital as Product Partner for Africa Strategy

(NR Capital) Jun 2013 - Nex Rubica Capital presents at the South African Suppliers Diversity Council: 2013 Synergy Conference and Business Opportunity Fair.

(NR Capital) May 2013 -  Nex Rubica Capital joins the Africa panel at The Exporta 5th Annual Trade & Commodity Finance Conference

(NR Indexes) Mar 2012 - Nex Rubica Capital acquires NR Indexes & Ratings LLP

(NR Capital) Jun 2011 - CNBC Africa - Regional Business Roundup on African capital markets

(NR Indexes) Feb 2011: Country Brief: Egyptian Market Highlights 

(NR Capital) Jan 2011 : Deep Impact in Nigeria's Financial Markets

(NR Indexes) Jan 2010: - Electronic Trading Sweeps Africa

NR Indexes: Sep 2008 - Kenya Firms among top performers in Nex Rubica’s African Equity Capital Markets Review

Benchmark Commentary: With the Egyptian Stock Exchange (EGX) still closed, the North African constituent of the NR Africa Top 40 and NR Africa Mid 45 became more sensitive to volatility in the Sub Saharan markets. Nigeria being the major driver in the Top 40 index dropped by -1.4% over the week. Increased price volatility in the Nigerian Banking sector saw more casualties with First Bank, Zenith Bank and Guaranty Trust Bank all losing ground as investors hastily bought shares following the coming M&A activity in the sector. Kenya remained the best performing country in the Top 40 with Telcoms reporting positive numbers of about 5.5% up from last week.

The NR Africa Top 40 saw $118,56mio worth of shares traded this week with liquidity levels on the Benchmark moving up to 0.1% from a year to date high of 0.6%. The NR Africa Mid 45 was less volatile dropping -17.9712 points over the week an equivalent of $31mio. Morocco was the major country looser as it dropped by -2.1% and Industrials by -0.9%. Kenyan stocks dominated the Top 5 list with Mumias Sugar and NIC Bank breaking through this week.

Index Rebalancing Week: The NR Africa Top 40 saw El Ezz Alexandria (Egypt) exit the basket, replaced by Suez Cement (Egypt).



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