- Kenya Airways remains in the red as loss hits historic USD290.8 million
- Kenya: Ruto urges German enterprises to invest in MSMEs
- Tanzania filmmakers’ quest to nab billions from global movie fans
- Diageo buys additional shares in EABL to become its leading shareholder
- Africa conference to discuss power affordability and access
- U.S. investment in Tanzania to grow after Samia’s policy shift
- Bamburi Cement appoints new CEO amidst dwindling profits
- Airtel Money partners with Prudential Uganda to launch affordable health insurance
Browsing: Rwanda Stock Exchange (RSE)
ENERGICOTEL (ECTL) PLC, a member of EPC Africa Group, an independent power producer and an engineering consulting company has debut on Rwanda Stock Exchange (RSE).
The firm had in June announced in a statement that it had received regulatory approval to issue and list a Corporate Bond on the RSE.
On Monday August 16, 2021, RSE started trading Energicotel’s first-ever corporate bond.
This is the third corporate bond to be listed since the establishment of the RSE after the ones by the International Finance Corporation (IFC) and local lender BCR—which was acquired by I&M bank
The launch of the listing of the Rwf 6.5 billion ($6.4 million) long-term fixed rate corporate bond was presided over by the Minister of Infrastructure, Claver Gatete.
Several government officials, particularly from the finance sector, as well as investors also attended the bell-ringing ceremony.
Energicotel operate three hydropower plants in Rwanda, with a …
MTN Rwandacell has listed its shares becoming the first telecom company to list on the Rwanda Stock Exchange (RSE).
The listing will see 100 per cent of MTN Rwandancell listed on the market but only 20 per cent of the shares previously owned by Crystal Telecoms’ (CTL) will be floated to the public.
The telecom listed its shares by introduction making shareholders of Crystal Telecoms’ (CTL) direct shareholders in MTN Rwanda. Crystal telecom was established following a share transfer of 20 per cent of shares held in MTN Rwanda from Crystal Ventures to Crystal Telecom in 2015.
Listing by introduction is a way of listing shares that are already in another exchange with the aim of raising capital but since the shares had already been fully paid for that is not the aim but could serve a purpose later.
Rwandans can now own a piece of the country’s biggest …
Rwanda is moving to cement its position as the financial capital of Africa by drawing in different investments and partnerships. Such partnerships include developing Kigali as a financial hub through the Kigali International Finance Centre, a hub supported by government-owned Rwanda Finance.
CDC Group, the UK’s development finance institution and impact investor, in June signed a partnership agreement with Rwanda Finance to support the development of a new international financial capital for Africa.
The Kigali International Financial Center (KIFC) is intended to be a world-class financial hub, designed to promote inward investment and the creation of thousands of highly skilled financial sector jobs for the benefit of Rwanda and the African continent.
This partnership will see CDC provide the expertise that will help shape a strong legal and regulatory framework that is designed to attract institutional investors seeking to finance African businesses through a world-class financial center.
Rwanda Finance was
The onset of Covid-19 brought numerous economic challenges to the region. Significantly affected are the barometers of the economy which are mainly the securities markets as well as money markets. The manner in which these two react clearly depicts where the economy is headed. When Covid-19 descended on the region, the regional markets were the first ones to show, responding to the decline of global shares in known markets like New York Stock Exchange, London Stock Exchange and similar markets in Europe, Asia and Africa.
In East Africa, the main markets are Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange (DSE), Uganda Stock Exchange (USE) and Rwanda Stock Exchange (RSE). The NSE and DSE are both automated while the USE and RSE are still manual using the open-outcry trading system. Unlike the other three Partner States, Uganda also has an over-the-c
East Africa continues to draw attention due to its high growth rate. The positive growth has been projected by both national and multilateral agencies like IMF and World Bank. The growth is expected in both agricultural and manufacturing sectors with great support from the service industry. To harness the power of all this growth is a budding bourse across the region. In this issue, we focus on how the stock markets are expected to behave this year.
The Institute of Chartered Accountants in England and Wales (ICAEW) released a report at the end of 2019 which showed that East Africa’s economy is expected to continue expanding at an average of 6.3 per cent in 2020, with that of Rwanda expected to lead at eight per cent from 7.8 per cent. Kenya’s economy is expected to expand in the margins of six per cent while that of Uganda and Tanzania is…