Malawi Stock Exchange
|Malawi Stock Exchange|
|Founded||November 11, 1996|
|Key people||Krishna Savjani
Wilson T. Banda
The Malawi Stock Exchange (the MSE) is a fully fledged stock market, with a single licensed broker. It was inaugurated in March 1995 and opened for business for the first time on 11 November 1996, under the aegis of the Reserve Bank of Malawi, with 2300 Malawian citizens buying shares in the first company to be listed – Malawi's largest insurance firm, the National Insurance Company.
International Finance Corporation, a World Bank affiliate, and the Financierings Maatschappij Ontwikkelingslanden, a Dutch development bank with close ties to the Dutch Ministry for Development Co-operation, provided 40% of the $500,000 required for establishing the stock market in Blantyre, and the European Union sponsored seminars and publicity campaigns. The exchange operates in terms of the Capital Markets Development Act of 1990 and the Capital Market Development Regulations of 1992. It has a supervisory committee which comprises representatives of the central bank, the government and the private sector. It is a member of the African Stock Exchanges Association.
The MSE has a modest market listing. More stringent listing rules are currently being prepared. Membership of the Exchange is corporate and individual.
|1.||BHL||Blantyre Hotels Limited||Lodging, Resorts|
|2.||FMB||First Merchant Bank||Banking, Finance|
|3.||ILLOVO||Illovo Sugar Malawi||Sugar|
|4.||MPICO||Malawi Properties Investment Company Limited||Real Estate|
|5.||NBM||National Bank of Malawi||Banking, Finance|
|6.||NBS||NBS Bank||Banking, Finance|
|7.||NICO||NICO Holdings Limited||Finance, Mortgages, Insurance|
|8.||NITL||National Investment Trust Limited||Investments|
|9.||PCL||Press Corporation Limited||Food Distribution, Aquaculture, Real Estate, Beverages|
|10.||Standard||Standard Bank Malawi Limited||Banking, Finance|
|11.||SUNBIRD||Sunbird Tourism Limited||Tourism, Hotels, Resorts, Real Estate|
|12.||OML||Old Mutual Plc.||Banking, Finance|
|13.||REAL||Real Insurance Company||Insurance|
|14.||TNM||Telekom Networks Malawi||Mobile Telephony|