{{Kenya’s Uchumi supermarket chain is expected to cross-list shares on the Rwanda Stock Exchange (RSE) on October 14.}}
Dr. Jonathan Ciano the CEO of Uchumi says, the cross-listing will enable Rwandans to own part of Uchumi.
He said, “Uchumi will be among the few listed securities on the Rwanda Capital Market, which is great for us. It will also give us the visibility that we and our customers need. Our objective is to make Uchumi a business that is owned, managed and supported by East Africans.”
Dr. Ciano added, “Listing Uchumi shares in Rwanda will also help in the development of the local capital market and provide an investment opportunity to thousands of Rwandans since it now makes it convenient for them to invest in the company without going to Kenya.”
Robert Mathu, the Capital Markets Authority executive director noted, “The CMA board has approved the cross-listing of 265,426,614 ordinary Uchumi shares of par value Ksh5 (Rwf38) each on the Rwanda Stock Exchange.”
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