The Nairobi Security Exchange is set to admit Bank of Kigali Group Plc (BK) after the Capital Markets Authority (CMA) granted approval for the cross-listing of the first Rwandese firm at the Kenyan bourse.
The regulator says the cross-listing will facilitate cross-border investments and further strengthen the Memorandum of Understanding entered into between capital markets regulators in Kenya, Uganda, Tanzania, Rwanda and Burundi through which a common blueprint on the integration of the East African capital markets was adopted.
According to CMA CEO Paul Muthaura, the listing is expected to enhance Kenya’s position as an international financial centre and gateway for regional and international capital flows.
‘’The cross-listing of the issuer on the Nairobi Securities Exchange is expected to address challenges BK Group faces in Rwanda, due to the small size of the capital markets, by unlocking liquidity constraints and providing access to a wider pool of investors.’’ He said.
Further adding that Investors are expected to benefit from the opportunity to participate in the diverse income streams of the BK Group and its future capital growth.
