Samuel Kantai

Nairobi

Business Editor at CGTN Africa

Journalist, Business Editor at CGTN Africa, tweet whenever I can...

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Articles

Egypt’s surprise rate hike a boon for foreign investors

Mar 8, 2024 | africa.cgtn.com | Samuel Kantai

Read 2 minutesInternational investors purchased more than 800 million U.S. dollars in Egyptian government Treasury bills on Thursday, a day after the country devalued its local currency and increased its main lending rate by 600 basis points to 27.25 percent. The Egyptian pound dropped from a level of 30 pounds per dollar to 49.50. Traders said the surprise move by the Central Bank of Egypt on Wednesday injected much-needed investor confidence.
Airtel Uganda listed on Uganda Securities Exchange

Nov 8, 2023 | africa.cgtn.com | Samuel Kantai

Read < 1 minuteAirtel Uganda’s share price so far remains unchanged from Monday’s Initial Public Offer price of 100 Uganda shillings (15.13 U.S. dollars). Investors maintained a cautious approach to the stock whose offer was undersubscribed at 54.5 percent of the 8 billion shares floated on the market. Seemingly, even the offer of 10 shares for every 100 shares applied for by retail investors buying more than 2,500 shares during the IPO, failed to attract full subscription.