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Kenya

Equity bank lists in Uganda

NAIROBI, Kenya, Jun 18 – Equity Bank has now listed all its 3.7 billion ordinary shares at the Uganda Securities Exchange (USE).

A statement form the bank indicates the shares began trading on Thursday after the bank listed on the Ugandan Bourse.

Equity Bank’s Group Managing Director James Mwangi said the listing would allow Ugandan investors and citizens easier access to the ownership of the Bank.

“Equity Bank is committed to giving investors a chance to participate in our inclusive business model since our vision is to champion social and economic prosperity for all people in Africa,” said Mr Mwangi.

USE Chief Executive Simon Rutega said the Ugandan bourse’s supervisory practices and regulatory structure was well prepared for Equity Bank’s listing.

“The USE has a sound operating framework with high standards of regulatory practices which provided a safe investment environment. We welcome and celebrate the cross listing of Equity Bank shares as it only lends more credence to the development of Uganda’s capital market,” said Mr Rutega.

Equity bank opened its operations in Uganda in March 2009 following a merger with Uganda Microfinance Limited the previous year.

“The purpose of our cross listing is to give our actual and potential investors  in the Ugandan market the opportunity to invest in Equity Bank shares at the Uganda Securities Exchange,” said  Mr Mwangi.

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