Rwanda Government to raise $42 mn by selling shares in Bank of Kigali and MTN
The Rwandan Government plans to raise Rwf25 billion ($42.2 million) through the sale of its shares in Bank of Kigali Ltd and telecom company MTN Rwanda in coming months. The bank is Rwanda’s biggest lender by assets. Government will sell a 20% stake and the bank will add a further 25% stake in an Initial Public Offering scheduled for June.
Rwanda Chair calls for integrated East African capital market
Dr James Ndahiro, Chairperson of the Rwanda Stock Exchange, said East African countries should form a single stock market by 2015.
Rwanda Stock Exchange opens with brewery IPO
Africa’s newest stock exchange is the Rwanda Stock Exchange (RSE), launched on 31 Jan to start trading the shares of brewer Brasseries et Limonaderies du Rwanda BRALIRWA. The exchange replaces the Rwanda-Over-The-Counter (OTC) market which has operated since 31 Jan 2008.
East Africa securities training for thousands
The International Finance Corporation and East Africa’s Securities Industry Training Institute (SITI), based at the Uganda Securities Exchange have signed an agreement to broaden training over the next 10 years. This will be used to licence market participants.
BRALIRWA, first Rwandan IPO, launches tomorrow
The Rwandan Government said today (22 November) that it aims to raise RwFr 22.1 billion (US$37.3 million) from the sale of its 30% stake in brewer BRALIRWA, according to Reuters. The country’s first initial public offering will run from 23 November to 17 December.
Nation Media Group in Rwanda cross listing, new market tax incentives
Kenya’s Nation Media Group has cross-listed its shares at the Rwanda Over-The -Counter (ROTC) market on 2 November
Rwanda starts pre-offer campaign for BRALIRWA
Rwanda’s Capital Markets Advisory Council has launched a 2 weeks’ pre-offer campaign across the country to sensitize people ready for the initial public offer of BRALIRWA. The Government is selling its 30% shareholding in Rwanda’s main beer and soft drinks manufacturer and distributor.
Rencap has expansion plans
Renaissance Capital (www.rencap.com/eng), the Russian emerging-markets bank with operations in Africa, plans to expand next year into Egypt and at least 3 other African countries, according to a 5 October interview published on Bloomberg.
Rwanda’s capital markets progress – bill in Parliament, IPO coming “this year”
High on the agenda of Rwanda’s Parliamentary Standing Committee on Economy is the bill to regulate the capital market, which has been in Parliament for more than a year, reports the local The New Times newspaper. The initial public offer of brewer BRALIRWA is also still expected this year.
Rwanda regulator approves cross-listing of Nation Media
Rwanda’s capital market regulator told Bloomberg newsagency on 7 September that it had approved the cross listing of shares in Nation Media Group Ltd., and the cross listing could come this month.
Rwanda continues to ready for BRALIRWA public offer
Preparations continue in Rwanda for the listing of BRALIRWA. It will be the first Initial Public Offer on the Rwanda Over-The-Counter stock market
Rwanda expects more Kenyan cross listings
Rwanda’s Capital Markets Advisory Council expects 4 more Kenyan cross-listings this year on the Rwanda Over The Counter market, which is run by CMAC, bringing the total to 5, according to a report in The New Times newspaper.
Rwanda Investment Group postpones $40 mln bond for cement
Rwanda Investment Group S.A. has temporarily suspended plans to issue a bond with a value of RWF 23.1 billion (US$40 million) to RWF 28.9 bln ($50 mln), in order to to finance a new cement factory. The group says costs may be high, due to low liquidity and high interest rates.
Rwanda makes $130 mln from privatisations
The sale of 56 enterprises has made at least Rwf 75 billion (US$131 million) for the Government of Rwanda, according to a report in the New Times newspaper. Minister for Finance and Economic Planning, John Rwangombwa, told members of the Senate in mid-March that initially the plan was to sell 94 of its companies.
Big plans for Rwanda capital market, including first local public offer
The Rwandan capital markets are set for growth in 2010, including plans for a first local initial public offer (IPO) and developing the Rwandan stock exchange. In an interview with East Africa Business Week, the Executive Director of the Rwanda Capital Market Advisory Council Mr. Robert Mathu outlined what to expect.
Boost for $55 mln E African start-up/SME fund
A new fund is making good progress in raising up to US$55 million to be invested in business start-ups and small and medium enterprises in Kenya, Rwanda, Uganda, and Tanzania. The Fanisi Venture Capital Fund was set up with help from Norwegian Investment Fund for Developing Countries (Norfund)
New bond listing on Rwanda’s capital market
The capital market in Rwanda took another step forward with the listing on 22 January of a new Rwf2.5 billion (US$4.4 mln) two-year Treasury bond on the Rwanda Over The Counter (ROTC) exchange. According to the issuer, the National Bank of Rwanda (BNR), the bond has a 9.5% coupon rate.
East Africa’s new training institute will certify market practitioners
The curriculum of the Securities Industry Training Institute (SITI) has been launched in Kampala, Uganda.
SITI aims to standardize training on a wide range of programmes on capital markets and investments, corporate finance, asset management, entrepreneurship, corporate governance and other related fields of study. Eventually, all brokers, fund managers and investment advisors will require certificates to operate.
Bill to regulate Rwanda’s capital market
A bill to regulate the capital markets and collective investment schemes was tabled in the Rwandan Parliament last week.
Tanzania thawing on East African integrated market?
Tanzania seems to be warming to the idea of linking the East African stock exchanges, in what could eventually be the development of a major integrated regional market.