East African Business Week (Kampala)
Bosco Hitimana
14 April 2008
Kigali — As Safaricom Initial Public Offer (IPO) rolls on the globe, stock brokers and institutional investors are rushing in to sell its pieces in Rwanda.
The increasing need for the shares there is a looming temporally marriage between stock brokers and institutional investors to enjoy commissions through transactions for the Rwanda buyers to access the IPO.
Dyer & Blair Securities Rwanda Lt-a subsidiary of Dyer & Blair investment bank, Morgan& Stanley, Co. International PLC and Continental Discount House Lt (CDH) as well as Finabank and CFC Financial Services, have launched the campaign to attract the Rwandan investors to subscribe to some shares in the Kenya's most profitable Telecom company.
The chief executive officer Dyer & Blair Securities Rwanda, Mr. Simon Karenzi whose firm initially brought the Safaricom IPO to Rwanda, said that Rwandans in Diaspora and Kenyan residents in Rwanda have shown extra ordinary interests to own shares in the Safaricom.
"As you are aware, investment in shares in Rwanda is not common as an investment opportunity but locals have started picking interest after the launch," Mr. Karenzi said.
He said, since the launch, on average, 20 people turn up daily to pick the forms and the numbers are still increasing. Dyer & Blair Securities Rwanda is a registered member of the Rwanda Over the Counter (OTC) market at the Rwanda capital market.
Mr. Karenzi said that enough is being done to disseminate information to the Rwandan nationals who have shown interest in owning shares in Safaricom.
Another grass root campaign to sell the Safaricom shares in Rwanda has also been officially launched by Fina Bank in partnership with CFC financial services. The campaign initiated by the Finabank Kenya and CFC financial services which has appeared in Rwanda for the first time, is being done at the offices of Fina Bank in Kigali.
During the launch in Kigali, Fina Bank group head of treasury, Mr. John Thagana said the role of the bank was to collect money and deliver it in safe hands of CFC financial services.
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