Dangote Makes New Move to Give Kenyans Access to His Shares at Just Sh49

Kenyans could soon get a chance to own a piece of one of Africa’s biggest business empires without having to travel outside the country.

Aliko Dangote’s group is working on a plan that would allow Kenyan investors to access shares in Dangote Industries through the Nairobi Securities Exchange (NSE), subject to regulatory approval.

The development was revealed during an engagement between Dangote Refinery officials and Kenyan and East African institutional investors at the NSE offices in Nairobi on Tuesday, September 29.

For ordinary investors, one detail stands out — the entry price.

According to the proposal, Kenyans could access the investment through a new vehicle on the NSE, with an investment starting from about Sh490.

That means the opportunity could be within reach of investors who may not have millions of shillings to put into the market.

But there is another option that could attract even more attention.

Investors may also be able to buy Dangote shares at about Sh49 per share through global depository receipts, commonly known as GDRs.

GDRs are financial instruments that allow investors to gain exposure to companies listed in another country without directly trading on a foreign stock exchange.

For a Kenyan investor, this could remove some of the difficulties associated with opening an overseas brokerage account and dealing directly with foreign markets.

The proposal therefore gives local investors a potential route into Dangote’s business empire using familiar investment channels.

Dangote, one of Africa’s wealthiest businessmen, has built a diversified business empire covering industries such as cement, fertiliser, food production and petroleum.

His refinery in Nigeria has also attracted significant attention across Africa as the company expands its petroleum operations.

However, Kenyan investors will have to wait before making any purchase.

The proposed arrangement still requires regulatory approval before it can become available through the NSE.

So, if you have ever wondered whether an ordinary Kenyan could own shares linked to Dangote’s businesses, this development may be worth watching.

The key question now is when regulators will give the green light and how the proposed investment vehicle will work once it becomes operational.

Source:https://www.businessdailyafrica.com/bd/markets/capital-markets/dangote-offers-kenyans-shares-for-sh49-via-nse-5614044?fbclid=IwZXh0bgNhZW0CMTEAcGRvZgRzcnRjBmFwcF9pZA8yNzUyNTQ2OTI1OTgyNzkAAR5Q7Jq2yJdORUJ6_CKM2Puw78_bFeeILsjeX8SAXzjnEcSUIBSGydt51hipuQ_aem_BRNTcKbdZtfH_N_VAZhjlA

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