Fina Bank, CFC to sell Safaricom shares

BY JOHN GAHAMANYI of The New Times

"Fina Bank has teamed up with CFC financial services to handle Safaricom IPO investors in Rwanda. CFC Financial Services is a Kenya registered firm with experience in stock broking business in the region.

"The investors will be able to access the services throughout the Fina Bank branch net work in Rwanda," Patrick Nduati the head of trading and marketing at CFC financial services said.

Nduati who was speaking at the launch of Safaricom IPO added that in Kenya, this partnership will provide potential investors a lifetime opportunity to share in the region’s most profitable company."

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Category: Rwanda + Stock + Investment

Safaricom excites Rwanda

By Robert Mukombozi of The Monitor

"Several Rwandese are scrambling to get a piece of Kenya’s telecom service provider, Safaricom’s IPO cake that is making rounds on the globe.

Dyer & Blair Securities Rwanda Ltd, a subsidiary of the Nairobi-based Dyer & Blair Investment Bank together with Morgan & Stanley & Co International PLC have launched Safaricom IPO in Rwanda primarily to ensure the tiny country also gets some shares in the spirit of the East African Community.

And since the opening of the doors on April 1, Rwandese particularly, the elite community and institutions are continuing to flock Chadel Building in Kigali to participate in the Safaricom IPO. According to the picture given at this initial process, the shares are likely to be oversubscribed as indicated by big demand in Kenya mainly because they are priced at a significant discount."

Complete story at "Safaricom excites Rwanda"

Category: Rwanda + Stock + Investment + Economy

Safaricom IPO launched in Rwanda

BY JOHN GAHAMANYI of The New Times

"Safaricom, described as the most profitable Telecom company in East Africa has launched its Initial Public Offer (IPO) in Rwanda paving way for Rwandan investors to have a stake in the company.

This comes shortly after the Government of Kenya announced is unloading 25 per cent of its stake in the company, hoping to raise Ksh50 billion ($735 million) by selling 10 billion shares at Kshs5.00 each.

Of the issued shares, 65 per cent are open to East African citizens while the remaining 35 percent will be sold to institutional foreign investors."

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Category: Rwanda + Investment + Stock + East Africa Community

Rwanda identifies five firms for listing

By Bosco Hitimana of The EABW

"KIGALI, RWANDA — Government shares in five profitable companies will be floated on the planned equity market, expected to take off in a month’s time.

Rwanda’s privatisation secretariat and the Capital Markets Advisory Council (CMAC) have already lined up companies in which the government owns less than 30% shares.

Rwanda’s finance minister, Mr. James Musoni said in Kigali last week that the list comprises the leading insurance company; Sonarwa where government owns 10%.

Sonarwa is ready to be listed as soon as the equities market starts operations and other companies will follow gradually."

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Category: Rwanda + Stock + Investment

Rwanda’s first IPO set for May

By Phillip Nabyama & David Mugabe of The EABW

"KAMPALA, UGANDA — Buyers should hold onto their cash as the Rwandan government readies to sell its stakes in various companies this May.

The sale of government stake, according to Mr. Henry Gaperi, the chairperson of the country’s Capital Market Advisory Council (CMAC) has been pushed forward from April because the month, being a season when national commemorations like the genocide memorial are conducted, experiences low business activity."

Read on at "Rwanda’s first IPO set for May"

Category: Rwanda + Investment + Stock

Regional investors eye Rwanda bourse

By JULIUS BARIGABA Special Correspondent The East African

"East African investors are keenly awaiting the start of equity trading on the recently launched Rwanda Stock Exchange, expected to take place by June this year.

The bourse, which was started last month, is still trading in bonds, with three listed products so far. The country’s Central Bank has issued two Treasury-bonds worth $9.1 million each, while one corporate bond issued by the Rwanda Commercial Bank is worth $1.8 million.

A source told The EastAfrican last week that two more private sector companies are also “on the verge of issuing more bonds to raise capital” on the bourse. The Central Bank will issue a series of bonds — one bond per month."

Read on at "Regional investors eye Rwanda bourse"

Category: Rwanda + Stock + Investment + Economy

EAC capital markets potential swells as Rwanda launches

By Bosco Hitimana & David Mugabe of the EABW

"KIGALi, RWANDA – Rwanda’s historic launch of a first securities exchange last week means East Africa now has an additional market for capital mobilisation.
Essentially this has added value to the existing potential and now investors can look at a broader market and pool for raising capital.

“In the economic sense, capital mobility is enhanced. They have created their own platform now and this means money can be raised from any of the stock markets,” said Ms Harriet Kiwanuka, the head of research and market development at the Uganda Securities Exchange (USE)."

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Category: Rwanda + Stock + Economy

Rwanda bourse welcome

From The EABW website

"The Rwanda Stock Exchange is now here. The country’s new bourse chief is Mr. James Ndahiro. He has been appointed the founding chairman of the Rwanda Stock Exchange.

A highly accomplished scholar with years of research background in capital markets, the 38-year old PhD holder from Manchester Business School, will in the next coming years, be at the helm of a daunting task of identifying companies eligible for listing on the stock market."

Complete story at "Rwanda bourse welcome"

Category: Rwanda + Stock + Economy

Rwandan stock market to open with bonds

BY JOHN GAHAMANYI of The New Times
"On January 28 Rwanda’s stock exchange, Over the Counter Trade (OCT), is to be officially launched. It has been decided that OCT will begin with bonds.
A bond is simply a loan but in the form of a security. The issuer (borrower) owes the bond holder (lender) a debt and is obliged to repay the principal and the interest (the coupon) at a later date, termed maturity."

Complete story at "Rwandan stock market to open with bonds"

Category: Rwanda + Stock + Economy

BCR to list on stock exchange

Are you ready for this? BCR to list on stock exchange ... enjoy this article by KABONA ESIARA of The New Times.

http://www.newtimes.co.rw/index.php?issue=1349&article=2311

Let us know what you think.

Category: Rwanda + Stock + Economy