Articles > Business magazines > International magazines > African Business articles > February 1998

Article: Heading for the big time?

Article from:
African Business
Article date:
February 1, 1998
Author:
Copyright

Malawi's tiny stock market received a major shot in the arm with the recent listing of the blue chip Sugar Corporation of Malawi Ltd. (Sucoma), a member of South Africa's Illovo group, Africa's biggest sugar production conglomerate with subsidiaries in Swaziland, Mozambique and Mauritius. Sucoma, only the third company on the stock exchange, was listed at a capitalisation of 1.6bn kwacha. The other two companies are the National Insurance Company (NICO) and Blantyre Hotels Ltd. (BHL). The listings of Sucoma pushed the market capitalisation of BHL and NICO to K41.9m and K200m respectively. This boosted the stock exchange's overall capitalisation from K205m to K1.93bn ...

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