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The 70-year-old NSE has not been a beneficiary of cross-listed shares despite having several of its companies cross-listed in Uganda, Rwanda and Tanzania
Umeme’s exit is subject to settlement of outstanding investment bills by the government.
Low government spending, households in financial distress and struggling enterprises dominated Uganda’s economic landscape in the past year.
Investors find it difficult to trade in cross-listed shares since they are largely held by shareholders domiciled in primary markets.
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