Market integration across 3 East African securities exchanges is moving fast with a target of being live and online by 31 December 2020. According to a news report, Uganda Securities Exchange, Dar es Salaam Stock Exchange and Rwanda Stock Exchange are set to start trading as a single market after connecting their trading systems to […]
CIMERWA, the only integrated cement producer in Rwanda, is also helping build the capital market by providing the tenth listing on the Rwanda Stock Exchange. It listed by introduction on 3 August, without a public share offer, however, the shareholders of 49% of its 703.2m shares will make them available for buying by the public […]
Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.
The extended deadline for the initial public offer (IPO) of I&M bank Rwanda is 10 March. The Government of Rwanda is selling its 19.8% stake with an offer of 99m shares at RWF90 ($0.11) each.
Rwanda Stock Exchange (RSE) and the African Securities Exchanges Association (ASEA) will host the 20th Annual ASEA Conference in Kigali, Rwanda on 27-29 November, the flagship event for Africa’s capital markets.
The Rwanda Stock Exchange is expecting 3 IPOs in the coming months, to bring the equities listed for trading to 10.
Rwanda Stock Exchange says it is close to an Automated Trading System using technology from Nasdaq OMX and will link to the National Bank’s central securities depository.
Securities exchanges in East Africa are working together on infrastructure for tighter cooperation and links between Rwanda, Kenya, Uganda and Tanzania and potentially Burundi through the East African Securities Exchanges Association (EASEA).
Rwanda plans to return to Eurobond markets in 2015 and raise up to $1 billion for infrastructure, including an airport and power plants.
An intriguing article just published by The Africa Report highlights the potential of the East African region, where the economy is forecast to grow 18-fold to $3.5 trn by 2050, and the growing links, self-determination, infrastructure and risks.
The Nigerian Government plans to privatize the Abuja Securities and Commodities Exchange by mid-2014, according to Arunma Oteh, Director General of Nigeria’s Securities and Exchange Commission.
IFC signed 2 grant agreements with MicroEnsure Ltd for index-based weather insurance to help small-scale farmers in Rwanda and Zambia manage drought and too much rain.
African countries (apart from South Africa) are set to place $7 billion of debt this year, buoyed by low interest rates and a huge global appetite. It is more than the previous 5 years combined and African capital markets are feeling the boom.
The first Eurobond issued by Rwanda, due to mature in May 2023, raised $400 million at 6.875% and the money will go to start generating hydroelectricity by December with further expansion in June 2014 and also pay for airline expansion and a convention centre.
Rwanda’s Savings and Credit Cooperatives (known as SACCOs) are being encouraged to take more interest in investing into the capital market including bonds and equities. They are estimated to hold deposits worth over RWF15 billion (US$24.7 million).
Five leading Africans and innovators were named Social Entrepreneurs of the Year 2012 Africa by the Schwab Foundtion last week at the World Economic Forum on Africa in Addis Ababa.
The number of investors from other East African countries opening trading accounts at Kenya’s Nairobi Stock Exchange is still very small, but has grown more consistently in the last 2 years than other categories of investors.
Interest in share offers is high on the Rwanda Stock Exchange, after shares of Bank of Kigali (BK) rose 52% to RWF190 in their first day of trading on 1 September.
British American Investment Company (Kenya) Ltd launched its initial public offer (IPO) this week. It aims to raise KES 5.58 billion (US$62.2 million) for expansion. The offer is open until 5 August, and it to list its shares on the Nairobi Stock Exchange.
Rwanda’s biggest brewer, Brasseries et Limonaderies du Rwanda (BRALIRWA), says post-tax profit leapt by 62.8% in 2010, driven by increased sales, higher pricing and improved cost management. BRALIRWA was the first listing on the Rwanda Stock Exchange, which opened on 31 January.