They should have appointed KCB the Reciving Bank to make life easy. Oh well...that's room for growth.

what exchange rate are they using?

COMPARATIVE
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CFC STANBIC FINANCIAL SERVICES

1. CFC Stanbic minimum application is for 100 shares at RF 125 a piece with additional shares in blocks of 100.
No additional processing fee.

This amount is payable to the following account:

CFCStanbic Financial Services
A/C No - 58904
Chiromo Branch
[Quote your NSE CDS A/C No]

(2) The application forms have arrived. Carry along (2) or email Passport size photo, copies of your Passport/ID and Original Passport for verification.

(3) If you are a new CFC Client, you need to open a CDS A/C with CFC. Following are requirements:
- 2 PP Photos. If you have a softcopy email to csfs@stanbic.com
- ID/PP, recommend ID. 1 copy
- Utility Bill(Power/ Water) and/or draw residential route map.
- Bank A/C statement or Payslip as proof of income. Not more than 6 months. Anything current should suffice.
- Copies and originals for verification, have a/c statements stamped by bank.

(4) Open a Rwandese CSD Account by filling the CDS 1 Form available at CFC. Passport copies and Photos required.

They are physically located at Kenyatta Avenue, CFC Stanbic Bank Building, 1st Floor, phone +254 20 3638900 or email csfs@stanbic.com. They are also open Saturdays 9AM - 12 Noon.

For Kigali Bank, CFC seem a lot simpler to deal with than African Alliance.

bought mine at faida securities @19 bob. minimum 100, requires copy of passport,copy of PIN and damn 5 passport photos!

Hows the going with this in terms of interest regionally and in Kigali? About to make my application.

i ll get mine through NIC by end of the week, first time am trying something outside, hope exchange rate wont mess everything

This is certainly a BUY. The only caveat is that the shares are way too few. So one will have to be prepared for refunds.

That's where the exchange rate will bite. The spreads on EAC currencies are way too punitive. Can't wait for the day when the EAC will have one common currency. I am sure the banks do not look forward to this!

Yeah, refunds will definitely be massive. The alternative would be to keep the refunds with your broker and invest in the same market at an appropriate time. Otherwise you need to have a good venture on which to spend the refunds to cover the losses incurred in exchange rate both ways - and that can be an uphill task.

Bank of Kigali does not impress me

A week after the IPO opened on June 30th, the bank's MD James Gatera said the international pool was oversubscribed 3.5 times...40% of the offer already taken. 'We' are all scrambling for the remaining 60% with the lead brokerage firms intent on almost only serving high net worth individuals...between Kenyans and foreigners, this offer should be well and truly taken up...