Rwanda News
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East African Breweries Ltd., Kenya’s best-performing stock over the past month, is poised to end a 29 percent rally that valued the nation’s biggest company at double that of the benchmark index, according to Contrarian Investing Kenya Ltd. and technical indicators.
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PPC Ltd., South Africa’s biggest cement maker, plans a new $200 million plant in Democratic Republic of Congo, a net importer of the material, as the company expands in sub-Saharan Africa.
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Tanzania may sell as much as $2 billion of Eurobonds after obtaining its first sovereign credit rating by the end of September, Deputy Finance Minister Janet Mbene said.
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Rwanda’s central bank will probably keep its key interest rate unchanged this year as inflation remains below 10 percent and better harvests support growth in the East African economy, Governor John Rwangombwa said.
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Merck & Co. and GlaxoSmithKline Plc will cut the prices of their cervical cancer vaccines for some countries in the first large-scale effort to get the shots to millions of girls in the world’s poorest regions.
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Rwanda will use part of the funds from its debut dollar-bond sale to pay for the construction of a 28- megawatt hydropower plant that will be fully operational by June 2014, Finance Minister Claver Gatete said.
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Army officers from Democratic Republic of Congo are smuggling gold through neighboring Burundi to Dubai using false documents, London-based advocacy group Global Witness said in a report.
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Sub-Saharan African nations outside South Africa are selling $7 billion of debt this year, more than in the past five years combined, as yields more than double those of Treasuries lure investors repelled in the past by violence and corruption.
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Equity Bank Ltd., Kenya’s second- biggest lender by market value, said profit in the first three months of the year climbed 22 percent as lending increased while interest rates fell across East Africa.
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Rwanda’s Stock Exchange plans to have its first listing since June 2011 this year with I&M Bank’s local unit, Banque Commerciale du Rwanda Ltd., Capital Market Authority Chief Executive Officer Robert Mathue said.
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