‘Uchumi cross-listing a vote of confidence in economy’

Uchumi supermarket’s cross-listing on the Rwanda Stock Exchange is a key turning point for the local bourse and a vote of confidence in the local financial sector.
A broker updates a stock trading board in Kigali yesterday. The New Times/  T. Kisambira.
A broker updates a stock trading board in Kigali yesterday. The New Times/ T. Kisambira.

Uchumi supermarket’s cross-listing on the Rwanda Stock Exchange is a key turning point for the local bourse and a vote of confidence in the local financial sector.

Stock Exchange Executive Chairperson James Ndahiro said the listing will encourage local firms, especially those of similar or bigger size, to list on the security market.

“With this cross-listing, I am confident that the private sector in the country will follow suit and put their shares on the market,” Ndahiro said after the inaugural trading in Kigali yesterday.

Ndahiro said the move would also provide investment opportunities for Rwandans willing to invest in stocks “since it is now convenient for them to invest in Uchumi right here in the country.”

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