MJ- no am still alive and Thrilled
Dear Readers'
My deep sincere apologies to all those who follow this blog;yeah have been away for long engaged in other projects. I cannot say fully back: but am around!
Thanks for all the Support, comments and people this is your blog as well write anything about the Stock Markets in East africa I shall publish your article.
NATIONAL INSURANCE CORPORATION IPO
Hah, if this IPO were a girl awaiting marriage she would have long gone in menopause before the actual marriage: in all honesty thats what NIC's IPO is, with a pinch of salt i read in the papers that they are coming on the 17th of July 2009; my foot!
Mark my words, i shall close this blog if they do.
Tentaively lets talk about the Last Quarter of the year 2009
RENAISSANCE CAPITAL SUSPENDED
A Broker suspended for 2 months and it is published in the Leading newspaper Dailies; i was abit taken aback, but knowing its for minimum capital requirements at Bank it did not surprise,
Uganda's Capital Markets Authority should have started on this (Public suspension) of brokers especially those involved in "real" unethical practices like creaming off the provident fund (NSSF). A typical case of remanding Chickhen thieves to Luzira Maximum prison and then Granting bail to the "Fat Cats".
My argument here is about the stinking Double Standards only.
NSSF Return
If you have ears you have probably heard about the meagre returns NSSF Uganda is going to offer to its savers of around 4% vis a vis the 14% embellished "Jamwa" ones.
Well Jamwa was undeniably a sort of saviour at the Uganda stock Market; shaking up the Investment Portfolio in Uganda equities from 5% to 30%, no doubt that ever since he left the Market has dearly missed.
There is talk that since he was a performer and is only serving his suspension we could see him back at the Monopoly Pension Fund.....
Cross-Listing of Kenya Commercial bank and Equity Bank
Two of Kenya's celebrated Banks were cross=listed here in Uganda. Not that am against the East African Community but sincerely when you come to look at this- Is it not Public Relations stunts (not withstanding the proposed East African Stock Exchange- which may need a single currency).
The cross listed companise now account for over 85% (7-07-09) of our market Capitalisation.
Imagine this: a Ten percent fall or rise in the Cross Listed Companies would result into a an exaggerated rise or fall on the Uganda Stock Market, which is not reflective of Trade in the primary Listings... I think this is misleading to those investors who track Indexes.
