Malawi: Airtel Share Sale On Malawi Stock Exchange Under Intense Scrutiny - allAfrica.com

Malawi: Airtel Share Sale On Malawi Stock Exchange Under Intense Scrutiny - allAfrica.com: Multi-national mobile telecommunications network operator Airtel management decision to sell shares in the company has attracted mixed reactions as well as intense scrutiny with some Malawians already expressing reservations.

Aitel is offering a total of 2.2 billion shares at a price of K12.69 per share on the Malawi Stock Exchange (MSE), allowing the public for the first time to own part of the telecommunications firm.

he company's offer represents Malawi's largest Initial Public Offer (IPO) in the history of MSE listing.

Malawi Stock Exchange hopes for more new listings in 2020 - The Times Group Malawi

Malawi Stock Exchange hopes for more new listings in 2020 - The Times Group Malawi: Expectations are high among officials of the Malawi Stock Exchange (MSE) that two new companies will join the stock market in the course of the New Year, 2020.

In an interview, MSE Chief Executive Officer, John Kamanga, without revealing the names of the companies said they come from the financial sector

Our Comment on Airtel Shares Offer

The big financial news during the last days of 2019 has been the announcement by Airtel that it is offering  2.2 billion shares primarily to Malawians pegged MK12.69 per share. This will be listed on Malawi Stock Exchange (MSE) for individuals.

There are at least three arguments for attracting foreign investment. The first is that it brings in new capital. The second is that it will bring technology and the third is that will help open up foreign markets for the host country.  The Airtel deal fails in at least two of these. It does not bring in new capital. Instead, it is borrowing locally. Its services are necessarily not tradable so it will not be contributing to Malawi’s export and forex earnings. As for technological, the technologies it used are quite standard.

Unless a foreign company is bringing in new technology and expanding the country’s export there is really no reason for allowing the company to raise funds locally.  Allowing Airtel to borrow locally without insisting on the reciprocal augmentation of Malawi’s technological capacity or export simply leads to the crowding out of domestic enterprises.

Domestic entrepreneurs complain about the lack of credit. Airtel’s offer suggests that there are large sums of funds looking for outlets. We know that pension funds are sitting on more than two billion dollars.  The offer also confirms the indigenous capitalist's complaint that the stock market does not serve them.

What all this point towards is the need for the revival of national development institutions like MDC to lend to national capitalists or, through joint ventures, to acquire new technology and open up export markets. The Airtel deal is bad one. It is short-sighted and indicative of a complete lack of development strategy by the government.

Share value drops by 32.68% in October - The Times Group Malawi

Share value drops by 32.68% in October - The Times Group Malawi: The Malawi Stock Exchange (MSE) registered a 32.68 percent drop in share value in October, figures from the local bourse show.

A monthly market performance report for the month indicates that the market transacted a total of 185,453,439 shares at a total consideration of K2,495,407,311.96 in 243 trades compared to 154,699,117 shares at a total consideration of K3, 706,719,389.44 in 246 trades in September.

PCL prepares subsidiaries for potential listing – The Nation Online

#PCL prepares subsidiaries for potential listing – The Nation Online: Press Corporation plc (PCL) says it is preparing some of its businesses for potential listing on the #Malawi Stock Exchange (MSE).

PCL group chief executive officer George Partridge said this during the dual-listed conglomerate’s 2018 Annual General Meeting (AGM) in Blantyre on Thursday afternoon

Firm invests K50bn, set to list on MSE - The Nation Online

Firm invests K50bn, set to list on MSE - The Nation Online: Newly-formed property development and management firm, Icon Properties Limited, says it has invested over K50 billion and plans to list on the Malawi Stock Exchange (MSE) before the year ends.

The firm, which was born after restructuring property companies in the MSE-listed Nico Holdings group portfolio as well as through a collaborative process with other property investors, was incorporated in Malawi on June 4 2018 and converted to a public limited company on October 11 this year.

Malawi Stock Exchange pens Escom on borrowing | The Times Group

Malawi Stock Exchange pens Escom on borrowing | The Times Group: Malawi Stock Exchange (MSE) has written Electricity Supply Corporation of Malawi (Escom) and Secretary to the Treasury over the power utility firm’s proposal to borrow K30 billion from the money market.

MSE Chief Executive Officer, John Kamanga, confirmed in an interview Tuesday that his institution penned Escom a fortnight ago.

Funfair as Old Mutual lists on Malawi Stock Exchange | The Times Group

Funfair as Old Mutual lists on Malawi Stock Exchange | The Times Group: There was pomp and funfair in Blantyre Tuesday when Old Mutual Limited finally listed on the Malawi Stock Exchange (MSE).

The development followed the listing of the firm on the Johannesburg Stock Exchange earlier in the day.

Yesterday also saw the firm making a standard listing in London and secondary listings on the stock exchanges of Namibia and Zimbabwe.

Electronic trading starts on Malawi Stock Exchange | The Times Group

Electronic trading starts on Malawi Stock Exchange | The Times Group: "Electronic trading starts on Malawi Stock Exchange
Posted By: Taonga Sabolaon: June 12, 2018In: BusinessNo Comments
The Malawi Stock Exchange (MSE) on Thursday opened a new chapter in its history when it kick started electronic share trading.

MSE Chief Executive Officer, John Kamanga, confirmed the development during FMB Capital Holdings and National Bank of Malawi annual general meetings on Thursday and Friday, respectively."



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Listed firms eye ballooning profits | The Times Group

Listed firms eye ballooning profits | The Times Group:



Listed firms eye ballooning profits

Posted By: Grace Thipa on: April 09, 2018 In: Business No Comments

Malawi Stock Exchange-listed Mpico Limited, Nico Holdings and Press Corporation PLC are

expecting profits for the year ended 2017 to be significantly higher than the earnings realised in

2016.

A weekly market report circulated by Cedar Capital, a brokering and dealership company formerly

operating as African Alliance, says Mpico has forecast a jump in profits 100 percent higher than,

what the company realised in 2016.

Towards the end of the 2016 Financial Year, Mpico raised K9 billion in a renounceable rights

issue, which converted its loans into equity.





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Challenges facing Malawi Stock Exchange | The Times Group

Challenges facing Malawi Stock Exchange | The Times Group: "Challenges facing Malawi Stock Exchange
Posted By: Taonga Sabolaon: August 02, 2017In: BusinessNo Comments
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says there are a number of reasons why local firms are failing to access cheap capital through listing on the Malawi Stock Exchange (MSE).

The development comes at a time when the local stock market, which has 13 listed companies, has not seen any new listings since 2008."



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