Continental Holdings (CHL) has become the 17th company to be listed on the Malawi Stock Exchange, following the successful completion of its Initial Public Offering (IPO).
Reserve Bank of Malawi Deputy Governor responsible for Economics and Regulation, Henry Mathanga, has described the listing as an important step towards mobilising capital for Malawi’s economic growth.
Speaking during the listing ceremony in Blantyre, Mathanga commended retail and institutional investors for their positive response to the IPO.
He said their participation was critical to the success of the listing.
He said increased mobilisation of capital from both domestic and international sources is essential to achieving the aspirations of Malawi 2063.
Mathanga said the financial sector has been a trailblazer in developing Malawi’s capital market, particularly through promoting transparency, good corporate governance and effective risk management.
Meanwhile, Malawi Stock Exchange Board Chairperson Professor James Kamwachale Khomba said CHL’s listing demonstrates confidence in Malawi’s economy and the country’s capital market.
MSE Chief Executive Officer John Robson Kamanga said CHL’s listing fulfils one of the Exchange’s key performance indicators since 2021, which was to attract new companies to the market.
He said the overwhelming response from retail investors demonstrates growing interest among ordinary Malawians to participate in wealth creation through the capital market.
CHL Group Chief Executive Officer Robert Abbey said the listing has opened another channel through which a wider cross-section of Malawians can participate in investment and wealth creation.
Abbey said more than 10,000 shareholders have acquired a platform through which they can benefit from the company’s growth.
The listing of CHL is expected to broaden public participation in the financial services sector while providing the company with access to long-term capital to support its growth strategy.
By Arthur Chokhotho
