ICPAK to act on Ciano only after Uchumi adopts forensic report The Institute of Certified Public Accountants (ICPAK) has said Uchumi Supermarkets board needs to adopt a forensic report that accuses former CEO Jonathan Ciano of misconduct before it can take disciplinary action on him. The…

South Africa, Nigeria, Kenya bourses in funds cross-list talks The South Africa, Kenya and Nigeria stock exchanges together with market participants have opened discussions with a view to cross-list exchange traded funds (ETF) across the countries. The move is expected to boost liquidity of the…

Nairobi, Johannesburg stock markets to cross-list securities The Nairobi and South African bourses are set to launch dual-listing of collective investment funds in the coming months. The listing will focus on exchange traded funds (ETFs)—modelled on unit trusts—at beginning based on the most liquid stocks, principally on the FTSE…

Ecobank unveils plan, promises to strengthen presence in Kenya Pan-African lender Ecobank plans to wind down its expansion strategy across Africa and focus on existing businesses, especially in Nigeria, Ghana, Angola and Kenya, its  Chief Executive Officer Albert Essien said. “These four countries together are very important to the future…