African titans Vodacom, MTN battle for lucrative Ethiopia deal
Monday May 03 2021
Balcha Reba (2nd left), director-general of the Ethiopian Communications Authority, shows a proposal from a bidder during the big opening ceremony for the telecommunications licences award, in Addis Ababa on April 26, 2021. Ethiopia announced it had received two bids for licences that would end the government’s monopoly in the telecoms sector. PHOTO | AFP
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The battle for the lucrative Ethiopian telecommunications market has narrowed down to consortia led by two of Africa’s telecom giants, Vodacom and MTN Group, setting another stage for their sustained competition for the continental market.
Central bank seeks identity of major NSE gold traders
Summary
NSE notified traders to provide information directly to the banking regulator and identity of any investor buying gold stock worth more than $10,000 (Sh1.08 million).
The Absa gold launched in 2017 and with a market capitalisation of Sh576 million is now worth Sh742 million at the price of Sh1,855 a unit.
Monday May 03 2021
By OTIATO GUGUYU
Summary
NSE notified traders to provide information directly to the banking regulator and identity of any investor buying gold stock worth more than $10,000 (Sh1.08 million).
The Absa gold launched in 2017 and with a market capitalisation of Sh576 million is now worth Sh742 million at the price of Sh1,855 a unit.
Regulator to lower cost of listing on Nairobi bourse
Monday May 03 2021
By BRIAN NGUGI
The Capital Markets Authority (CMA) is considering lowering fees for listing on the Nairobi Securities Exchange (NSE) to attract more investors.
The planned changes follow a study by investment adviser RisCura which showed that prohibitive costs had led to “market failure” relating to Initial Public Offerings (IPOs) on African stock exchanges.
The initial and annual fees charged on the NSE Main Investment Market Segment is 0.06 per cent of the market capitalisation subject to a minimum of Sh200,000 and maximum of Sh1.5 million.
Similarly, 0.06 per cent of the value of the securities to be listed subject to a minimum of Sh100,000 and a maximum of Sh1,000,000 is charged as initial fees on those seeking to list in the alternative Investment Market Segment.
THE STANDARD
NATIONAL
File: Standard
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