Centum Investments founder to acquire up to 49.99% of company

The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders. The exemption, pursuant to Regulation 5(1) of the Capital Markets Authority (CMA) Takeovers & Mergers Regulations, 2002, will see Kirubi […]

Nairobi Stock Exchange halts trading as share prices collapse on coronavirus Scare

Trading on the Nairobi Securities Exchange (NSE) was yesterday suspended towards the close of the market as panicky investors made indiscriminate sale of shares. Total market capitalisation dropped by Sh120 billion ($1.2bn) – one of the largest declines in a single day in the history of the bourse. The value of all stocks closed at […]

Uganda Stock Exchange dips as Investors Hold Back

Trading on the Uganda Securities Exchange (USE) have hit an all-time low recording a paltry Ush1.89 million ($504) in Thursday’s trading from only 10,700 shares. Thursday’s trading represented a minimal improvement from Wednesday’s Ush1.2 million ($320) in a situation exacerbated by the coronavirus pandemic that sent global markets into turmoil. The trades value plunged 60.7 […]

Nigeria: Securities Commission set up Investors Protection Fund

The Securities and Exchange Commission (SEC), has leveraged further investors’ confidence and mitigation of losses on the nation’s bourse with the inauguration of a National Investors Protection Fund (NIPF). The quasi investors’ insurance scheme worth, N5 billion, would serve as a buffer for compensating investors for pecuniary losses, liquidation, insolvency, bankruptcy or negligence of non-broker/dealer […]

Zimbabwe: Willdale returns to profitability on the back of volume increases and better cost management

Cost management initiatives undertaken during the year resulted in a 22 percent decline in average production costs. WILLDALE’s after tax profit for the year ended 30 September 2015 grew by 77% to $214 086 from a loss position of $931 011 in prior year and the group says it is now positioned to sustain profitability […]

Ghana: Despite poor performing banking stocks in 2015, Analysts remain optimistic for 2016

Stock market analysts are projecting that banking stocks on the Ghana Stock Exchange (GSE) will perform better next year (2016) than they did this year (2015). All the banking stocks on the stock exchange with the exception of the Trust bank of Gambia recorded declines in their share prices this year as compared to 2014. […]

Zimbabwe stock Pelhams suspended from trading on stock exchange ahead of company liquidation

PELHAMS Limited has applied for voluntary suspension in the trading of its shares with immediate effect having failed to meet its debt obligations. According to a statement from the Zimbabwe Stock Exchange (ZSE) the company notified the bourse on 24 November 2015. “Pelhams Limited wishes to advise all Shareholders that the Company has applied for […]

Global Investor ACTIS takes majority stake in Nigerian pension firm Sigma

Lagos — ACTIS, a global pan-emerging markets investor, has acquired a majority stake in Sigma Pensions in a transaction valued at US$62 million. Sigma is a leading pension fund administrator (PFA) in Nigeria. Natalie Kolbe, Partner at Actis, said building on their extensive experience in the asset management and distribution sector, they were excited to […]