7 C
Madrid
Friday, March 29, 2024

Rwanda, Tanzania Stock Markets Ranked Among Top Six in Sub-Saharan Africa

Analysts at the African Financials Group stated in their report that Rwanda Stock Exchange (RSE) and Dar es Salaam Stock Exchange (DSE) registered 7.2 per cent and 9.1 per cent returns respectively during the 12 months to June this year

Must read

Mohammed Yakubu
Mohammed Yakubu
Mohammed Yakubu is an investigative journalist reporting on public health, human rights, climate change, education, gender issues, and much more.

AFRICA: Rwanda and Tanzania stock markets were ranked among the top six that have impacted positively their shareholders in Sub-Sahara Africa.

Analysts at the African Financials Group stated in their report that Rwanda Stock Exchange (RSE) and Dar es Salaam Stock Exchange (DSE) registered 7.2 per cent and 9.1 per cent returns respectively during the 12 months up till June this year.

- Advertisement -

The report titled, Sub-Saharan Africa Top 30 Companies (excluding South Africa) listed other African countries that performed well during the period including Nigeria which recorded a return of 20.9 per cent, Zambia, 12.1 per cent, Seychelles five per cent and Botswana, 2.8 per cent.

In addition, the report dated July 2022 reveals that investors on the Nairobi Securities Exchange (NSE) and Uganda Securities Exchange (USE) lost 28.2 per cent and 20 per cent of the value of their investments. This was recorded between June 2021 and June 2022.

- Advertisement -

In the month of June, the Kenyan stock market plunged by 4.3 per cent, while Tanzania and Ugandan markets declined by 0.7 per cent and three per cent respectively. Similarly, the Rwandan stock market improved by one per cent during the month.

The President of Tanzania, Samia Suluhu gave priority to some policy shifts aimed at attracting investment in the country. However, this significantly contributes to the increase of trading activities on DSE which grew by 9.8 per cent during five months to May this year.

- Advertisement -

For instance, In early June, the Bank of Tanzania (BoT) relaxed rules allowing, for the first time, investors from the East African Community (EAC) and Southern African Development Community (SADC) to trade in Treasury bills and bonds issued in Tanzania.

Between January and May, the Nairobi Securities Exchange (NSE) and Uganda Securities Exchange (USE) fell by 25 per cent and 17.6 per cent respectively. However, in May, DSE and RSE increased by 2.2 per cent and 2.6 per cent against the NSE and USE which fell by 14.5 per cent and 6.9 per cent respectively.

As per the report, the Nairobi bourse is the third worst-performing major stock market in Africa since January. This owed to foreign investor capital flight and ease of repatriation of equity sales compared with other capitals in the continent.

Accordingly, NSE was ranked eighth among the 10 top stock markets in the continent with a return of negative 30 per cent in dollar terms since the year started.

Also Read: Defence Minister Takes Stock of Defence Production Activities in Nagpur

Author

  • Mohammed Yakubu

    Mohammed Yakubu is an investigative journalist reporting on public health, human rights, climate change, education, gender issues, and much more.

- Advertisement -

Archives

spot_img

Trending Today