Centenary Group to list 5%-10% stake on local bourse
Magoba said Centenary Bank, the Group's flagship subsidiary stands solid with a total balance sheet of sh7.1 trillion ($2bn).
According to Brenda Magoba, the Group Company Secretary and General Counsel, two of their shareholders will soon be exiting and their shares will be up for sale.
By Simon Okitela
Journalists @New Vision
KAMPALA - Centenary Group has revealed it will soon list 5%-10% stake on the Uganda Securities Exchange
According to Brenda Magoba, the Group Company Secretary and General Counsel, two of their shareholders will soon be exiting and their shares will be up for sale.
Although she did not indicate how much and the timelines, she noted that it will depend on what will be approved by the board.
Magoba was speaking during the opening of the Global Alliance for Banking on Values (GABV) Annual Meeting hosted by the Centenary Bank at Speke Resort Convention Centre.
She said Centenary Bank, the Group's flagship subsidiary stands solid with a total balance sheet of sh7.1 trillion ($2bn). The bank has total assets worth approximately ($96m) jointly owned with the Archdiocese of Lilongwe.
Centenary Group has aspirations to set up other subsidiaries within the financial and non-financial sectors. These include insurance, investment management, and banks outside Uganda, among others.