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Sovereign Wealth Funds Briefing - Categorized | Financials

Uganda: National Social Security Fund Sells Stanbic Shares for Sh4.6 Billion

Posted on 03 February 2011

From Allafrica.com: National Social Security Fund (NSSF) sold 16.4 million Stanbic Bank shares worth sh4.6b to Crane Financial Services, the second gigantic transaction by the fund in a month.
Last week, Stanbic announced that its earnings for 2010 were expected to be 20-25% lower than the previous year. Richard Byarugaba, the NSSF chief executive officer, confirmed the deal……………………………………….Full Article: Source


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