Four counties rush to get infrastructure bond issue approval
Summary
CMA director for regulatory policy and strategy Luke Ombara said Kisumu, Bungoma, Laikipia and Makueni have started the journey towards getting clearance to raise cash from investors for development projects.
The Constitution allows counties to borrow from the capital markets and foreign sources with clearance from the National Treasury.
Friday April 30 2021
Summary
CMA director for regulatory policy and strategy Luke Ombara said Kisumu, Bungoma, Laikipia and Makueni have started the journey towards getting clearance to raise cash from investors for development projects.
The Constitution allows counties to borrow from the capital markets and foreign sources with clearance from the National Treasury.
Safaricom share hits all-time high on Ethiopia bid
Thursday April 29 2021
Safaricom Plc CEO Peter Ndegwa during the telco s 20-year celebration at the Nairobi Serena Hotel on October 27, 2020. PHOTO | NMG
By VICTOR JUMA
Summary
A total of 11 million shares worth Sh441.7 million changed hands at a price of between Sh39 and an all-time high of Sh40.2.
Foreign investors were net buyers of the telco’s shares, according to a report by stockbroker AIB-AXYS Africa.
Besides news of the possible Ethiopia entry, some investors are also buying Safaricom’s shares in anticipation of the release of its full-year results, which will feature the declaration of a dividend.
Safaricom Bids For Ethiopia Telecom License, Investors Remain Cautious
By Juma / Published April 27, 2021 | 8:42 am KEY POINTS
Ethiopia’s nascent telecommunications sector is considered one of the most lucrative in the economy as the once inward-looking country opens up to foreign investment for the first time.
Safaricom Plc through Vodafone and Vodacom, British development finance agency CDC Group and Japan’s Sumitomo Corporation has made a formal bid to get a license to operate in Ethiopia.
“The ECA has indicated that proposals from interested bidders must be submitted by 26th April 2021, and the successful bidders will be announced within thirty (30) days (subject to timings subsequently advised by the ECA),” said Safaricom on Monday.