By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- Matthew Knowles, the father of world superstar, Beyoncé’ Knowles, and other US celebrities who are board members of Bangi Inc, are carefully noticing the Kenyan financial market.
The Company’s name emanates from the Swahili translation of marijuana. News from the media reported that, the firm’s board has confirmed its move to cross list on the NSE, despite the drug remaining banned in Kenya.
“A dual listing in Africa would be a natural step for the company considering its corporate name, “BANGI” means “Marijuana” or “hemp” in Swahili, one of the most spoken languages in Africa”, Neil Parsan – Chairman and Chief Executive Officer of BANGI Inc was quoted.
Yahoo Finance published that, the company also announced that, its cross – listing will represent the first U.S and the NSE.
The company’s listing on the NSE will allow investors to use various seamless financial payment systems such as mobile money amongst others, to purchase the company’s shares.
“The Kenyan capital market has grown rapidly in recent years and has also exhibited strong capital raising capacity, which will allow us to access an entirely untapped market valued in the hundreds of billions of dollars”, Yahoo quoted the company’s CEO.
Geoffrey Odundo CEO of NSE noted that the firm was yet to make application.
“I have not learned about the organization”, he stated, even as he promised to establish its identity.
Beyoncé’s father is listed as Bangi’s Chief Marketing Officer while renowned actor and rapper – Ray J (William Norwood Jr.) a brother to another U S superstar artist – Brandy, and TV actor Hill Harper, are also listed as board members.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent
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