MTN to open Sh132bn Uganda IPO to Kenyan investors

[MK254]

MTN Uganda will sell a fifth of its stake to Kenyan and other East African investors when it floats its initial public offer (IPO) on the Kampala bourse.

The telecom, a South African MTN Group subsidiary, said Tuesday that it had received regulatory approvals to list 20 percent of its shareholding.

The firm said Tuesday that it would disclose details of the offer in its prospectus to be released on October 11.

But, Uganda’s Capital Markets Authority (CMA) Keith Kalyegira said the IPO is expected to raise about Sh132 billion ($1.2 billion).

“The intention to float announcement is a major step towards delivering on our plan to list on the USE,” MTN Uganda chairman Charles Mbire told reporters.

MTN to open Sh132bn Uganda IPO to Kenyan investors

MTN Uganda will sell a fifth of its stake to Kenyan and other East African investors when it floats its IPO on Kampala bourse.

www.businessdailyafrica.com

 

[Tony254]

Wanajua bila sisi IPO yao itakunywa maji. Bila sisi baba la East Africa hio IPO itafail. MTN Uganda ni wajanja sana. Jirani yetu wa kusini investors wao ni wahindi tu ndio watakaonunua hizo shares. Wengine hawa weusi ni wapiga ramli tu.

 

[Don YF]

MTN Uganda will sell a fifth of its stake to Kenyan and other East African investors when it floats its initial public offer (IPO) on the Kampala bourse.

The telecom, a South African MTN Group subsidiary, said Tuesday that it had received regulatory approvals to list 20 percent of its shareholding.

The firm said Tuesday that it would disclose details of the offer in its prospectus to be released on October 11.

But, Uganda’s Capital Markets Authority (CMA) Keith Kalyegira said the IPO is expected to raise about Sh132 billion ($1.2 billion).

“The intention to float announcement is a major step towards delivering on our plan to list on the USE,” MTN Uganda chairman Charles Mbire told reporters.

MTN to open Sh132bn Uganda IPO to Kenyan investors

MTN Uganda will sell a fifth of its stake to Kenyan and other East African investors when it floats its IPO on Kampala bourse.

www.businessdailyafrica.com

Hapa tumepewa kwa silver platter, hii tutanyakua yote.., hadi raha.., 132B up for grabs!

 

[Tony254]

Hapa tumepewa kwa silver platter, hii tutanyakua yote.., hadi raha.., 132B up for grabs!

Kwani hio MTN Uganda ni kubwa aje? Hata nimeshangaa.

 

[Don YF]

Kwani hio MTN Uganda ni kubwa aje? Hata nimeshangaa.

Am surprised too., but they have the largest market share., ukiingia Uganda u see yellow everywhere., and red kiasi(Airtel)., yaani adverts kila kona ni MTN kwa wingi.,

 

[Tony254]

Am surprised too., but they have the largest market share., ukiingia Uganda u see yellow everywhere., and red kiasi(Airtel)., yaani adverts kila kona ni MTN kwa wingi.,

It is big. 20% shares valued at $1.2 billion makes the company worth $6 billion. Enyewe it is a big monster. It is one of the biggest companies in EA. Of course Safaricom is still the biggest by far.

 

[MK254]

Am surprised too., but they have the largest market share., ukiingia Uganda u see yellow everywhere., and red kiasi(Airtel)., yaani adverts kila kona ni MTN kwa wingi.,

MTN ni kiboko, nawaona kote kote huku Sudan Kusini, but walishawahiwa kwenye mobile money, here guys are operating a product known as Mgrush owned partly by Kenyans in partnership with Zain.

 

[cordoba]

Is Kenya telecom monopoly? Nimefika Kenya naona safari com tu unlike Tz whr is full of different tele companies eg voda, Airtel,halotel,zantel, ttcl ,tigo to mention a few

 

[MK254]

Is Kenya telecom monopoly? Nimefika Kenya naona safari com tu unlike Tz whr is full of different tele companies eg voda, Airtel,halotel,zantel, ttcl ,tigo to mention a few

"Nimefika Kenya"....huwa siwaelewi Kenya gani huwa mnafikia....

 

[Tony254]

Is Kenya telecom monopoly? Nimefika Kenya naona safari com tu unlike Tz whr is full of different tele companies eg voda, Airtel,halotel,zantel, ttcl ,tigo to mention a few

And what is wrong with telecom monopoly? Hio monopoly ndio imezaa Mpesa ambayo ilianzia Kenya na sasa imesambaa dunia nzima.

 

[joto la jiwe]

Wanajua bila sisi IPO yao itakunywa maji. Bila sisi baba la East Africa hio IPO itafail. MTN Uganda ni wajanja sana. Jirani yetu wa kusini investors wao ni wahindi tu ndio watakaonunua hizo shares. Wengine hawa weusi ni wapiga ramli tu.

Ninyi wakenya Domo tupu hamna lolote zaidi ya sifa za kijinga, MTN watauza share zao kwa mtu yeyote yule, hiyo ndio maana ya IPO, Sasa huyo aliyesema watauza kwa 'Kenya" ni upuuzi wenu wa siku zote. Kumbuka Tanzania tunao $ millionaires kuliko KE+UG+RW +BR combined

Magufuli aliposema watanzania tulime kwa bidii ili tuuze chakula kwa Bei kubwa, mlisema eti amesema tuwauzie wakenya kwa Bei kubwa, wakati nchi nyingi zinanunua chakula Tanzania

 

[Don YF]

Ninyi wakenya Domo tupu hamna lolote zaidi ya sifa za kijinga, MTN watauza share zao kwa mtu yeyote yule, hiyo ndio maana ya IPO, Sasa huyo aliyesema watauza kwa 'Kenya" ni upuuzi wenu wa siku zote. Kumbuka Tanzania tunao $ millionaires kuliko KE+UG+RW +BR combined

Magufuli aliposema watanzania tulime kwa bidii ili tuuze chakula kwa Bei kubwa, mlisema eti amesema tuwauzie wakenya kwa Bei kubwa, wakati nchi nyingi zinanunua chakula Tanzania

Hiyo ya $ millionaire ilashaumbuliwa., Tanzania haina hiyo number, inge reflect in your banking sector, ama wangetajwa wameweka pesa zao tax havens kwa pandora report, ama wanaweka hizo hela chini ya matress? it is not reflecting in your economy, means it was erroneously captured,..,

Kenya under heavy debt, but millionaires rising​

TUESDAY SEPTEMBER 07 2021​

PHOTO | FILE | NMG

Summary​

• Kenya has also recorded high profile government scandals including misappropriation of borrowed funds.
• In Africa, Kenya has the fourth highest concentration of wealthy persons after Nigeria, South Africa and Egypt.
• In Africa, the continent’s estimated wealth per adult stood at $7,922 last year, with debt per adult at $552 in the same period.

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By JAMES ANYANZWA
More by this Author

Kenya is churning out millionaires despite being the most heavily indebted country in East Africa. Every adult in the country is carrying a debt load of about $523. This is according to the latest Global Wealth Report by Swiss investment bank Credit Suisse.

The country has also recorded high profile government scandals including misappropriation of borrowed funds, which has created overnight millionaires while costing taxpayers about 30 percent of the national budget — translating into Ksh2 billion ($18.34 million) per day. Last year, the number of Kenyans with a net worth of at least $30 million, including their primary residence, stood at 90, having declined from 106 in 2019 largely due to the effects of the Covid-19 pandemic, according to Knight Frank Wealth report.

In Africa, Kenya has the fourth highest concentration of wealthy persons after Nigeria, South Africa and Egypt.

The study by Swiss investment Bank’s Research Institute, which was released recently, shows that while Kenya is weighed down by debts estimated at over Ksh7 trillion ($64.22 billion), the country is the richest in the region with total wealth estimated at $338 billion (both financial and non-financial wealth) as of last year. This translates into wealth per adult of $12,313 and an average wealth per adult of $3,683.

Kenya is followed by Rwanda whose wealth per adult stands at $4,188; Tanzania ($3,647), Uganda ($1,994); Democratic Republic of Congo ($1,240) and Burundi ($728).

However, a joint Debt Sustainability Analysis report by the World Bank and the International Monetary Fund shows that Kenya’s reliance on commercial financing (Eurobonds and syndicated loans) has increased and its risk of debt distress has moved to high from moderate due to the impact of the Covid-19 crisis, which exacerbated existing vulnerabilities. Kenya raised a total of $7.85 billion through Eurobond issues in the past seven years, with the latest being $1 billion issued in June this year priced at 6.3 percent with a tenor of 12 years.

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According to the researchers at Credit Suisse the region’s wealth increased significantly over the past 10 years, rising to a high of $560 billion in 2020 from a low of $24 billion in 2000.

The study shows that every adult in Tanzania carries a debt load of $137, followed by Rwanda ($135), Uganda ($107), Burundi ($37) and the Democratic Republic of Congo ($36). According to the report, DR Congo has an estimated 39.74 million adults, followed by Tanzania (27.74 million), Kenya (27.47 million), Uganda (19.83 million), Rwanda (6.58 million) and Burundi (5.38 million).

In Africa, the continent’s estimated wealth per adult stood at $7,922 last year, with debt per adult at $552 in the same period. Total wealth barely changed in Africa, with exchange rate appreciation accounting for the slight change in wealth in the continent

According to Credit Suisse’s 12th edition of the Global Wealth Report the total global wealth grew by 7.4 percent last year and wealth per adult rose by six percent to $79,952. The countries most affected by the pandemic did not fare badly in terms of wealth creation.

“Wealth creation in 2020 was largely immune to the challenges facing the world due to the actions taken by governments and central banks to mitigate the economic impact of Covid-19,” said report.

 

[Don YF]

Kenya is the fourth African country with the wealthiest individuals after Nigeria, South Africa, and Egypt - Report​

VICTOR OLUWOLE

September 7, 2021 5:28 PM

The Swiss Investment Bank's Research Institute has released a new report that ranked Kenya as the 4th African country with the highest concentration of wealthy individuals after Nigeria, South Africa, and Egypt.

Billionaires’ Club: Top 20 richest people in Africa [Updated]


According to the report, Credit Suisse's 12th edition of the Global Wealth Report, Kenya ranks fourth in Africa with the highest concentration of wealthy individuals whose total wealth is estimated at ($338billion) as of 2020.

In East Africa, Kenya ranks 1st place, followed by Rwanda, whose wealth per adult stands at $4,188; Tanzania ($3,647); Uganda ($1,994); Democratic Republic of Congo ($1,240) and Burundi ($728).
In Africa, the report noted that the continent's total wealth barely changed, with exchange rate appreciation accounting for the slight change in wealth in the continent. The report, however, did not release the names of the wealthiest individuals who made it to the 2020-2021 list.
Globally, the report highlighted that wealth grew by 7.4 per cent last year, and wealth per adult rose by six per cent to $79,952. It added that the countries most affected by the pandemic did not fare poorly in terms of wealth creation as "Wealth creation in 2020 was largely immune to the challenges facing the world due to the actions taken by governments and central banks to mitigate the economic impact of Covid-19," the report stated.

Kenya's heavy debt burden and rising millionaires list​

One critical insight the Global Wealth Report revealed is that Kenya is East Africa's most heavily indebted country. According to the report, Kenya has recorded several high profile government scandals, including corruption and misappropriation of funds that has created overnight millionaires.
The report ranked Kenya as a middle-income country with a debt estimated at over $64.22 billion, adding that every adult in the country is carrying a debt load of about $523. Other countries in the region did not fare poorly in terms of debt burden, with the study showing that every adult in Tanzania carries a debt load of $137, followed by Rwanda ($135), Uganda ($107), Burundi ($37) and the Democratic Republic of Congo ($36).
VICTOR OLUWOLE

 

[MK254]

Kenya is the fourth African country with the wealthiest individuals after Nigeria, South Africa, and Egypt - Report​

VICTOR OLUWOLE

September 7, 2021 5:28 PM

The Swiss Investment Bank's Research Institute has released a new report that ranked Kenya as the 4th African country with the highest concentration of wealthy individuals after Nigeria, South Africa, and Egypt.

Billionaires’ Club: Top 20 richest people in Africa [Updated]


According to the report, Credit Suisse's 12th edition of the Global Wealth Report, Kenya ranks fourth in Africa with the highest concentration of wealthy individuals whose total wealth is estimated at ($338billion) as of 2020.

In East Africa, Kenya ranks 1st place, followed by Rwanda, whose wealth per adult stands at $4,188; Tanzania ($3,647); Uganda ($1,994); Democratic Republic of Congo ($1,240) and Burundi ($728).
In Africa, the report noted that the continent's total wealth barely changed, with exchange rate appreciation accounting for the slight change in wealth in the continent. The report, however, did not release the names of the wealthiest individuals who made it to the 2020-2021 list.
Globally, the report highlighted that wealth grew by 7.4 per cent last year, and wealth per adult rose by six per cent to $79,952. It added that the countries most affected by the pandemic did not fare poorly in terms of wealth creation as "Wealth creation in 2020 was largely immune to the challenges facing the world due to the actions taken by governments and central banks to mitigate the economic impact of Covid-19," the report stated.

Kenya's heavy debt burden and rising millionaires list​

One critical insight the Global Wealth Report revealed is that Kenya is East Africa's most heavily indebted country. According to the report, Kenya has recorded several high profile government scandals, including corruption and misappropriation of funds that has created overnight millionaires.
The report ranked Kenya as a middle-income country with a debt estimated at over $64.22 billion, adding that every adult in the country is carrying a debt load of about $523. Other countries in the region did not fare poorly in terms of debt burden, with the study showing that every adult in Tanzania carries a debt load of $137, followed by Rwanda ($135), Uganda ($107), Burundi ($37) and the Democratic Republic of Congo ($36).
VICTOR OLUWOLE

Hii imefunga mijdala yote humu....