News and developments on African capital markets, includes: African securities, African stock exchanges/stock markets, African equities, African bonds, African private equity/venture capital, and African social impact investment
Kenyan financial services firm British-American Investments Company Ltd. said on 23 August that its initial public offering (IPO) had only attracted 60.09% of the targeted KSh5.85 billion ($63million).
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.
The East African Monetary Union is supposed to be effective from 2012. Senior officials including central bank governors, capital markets authorities, insurance and pensions regulatory agencies and national statistics officials are to meet in the last week of April 2011 for a third negotiation round.
Dr James Ndahiro, Chairperson of the Rwanda Stock Exchange, said East African countries should form a single stock market by 2015.
IFC on 8 March announced it was investing $10 million in equity in Catalyst Fund I LLC. The fund aims to stimulate employment and accelerate economic growth across East Africa by improving access to equity financing for emerging and mid-size companies.