Sub-Saharan African Stocks: Co-Operative, Dangote Flour, Unga Are Active

Mauritius’s SEMDEX Index advanced for a second day, rising 0.3 percent to 1,698.17 by the 1:30 p.m. close in Port Louis.

Kenya’s All-Share Index increased 0.4 percent to 79.19 by the close at 3 p.m. in Nairobi, a fourth day of gains. The Nigerian Stock Exchange All-Share Index fell 1.1 percent to 23,531.55 by the 1 p.m. close in Lagos, according to the bourse’s website. Namibia’s FTSE/Namibia Overall Index surged 2.2 percent to 786.24 by the 4 p.m. close in Windhoek. The Ghana Stock Exchange All-Share Index retreated 0.3 percent to close at 6,744.49 by 1 p.m. in Accra.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Co-Operative Bank of Kenya Ltd. (COOP KN), the nation’s fourth-biggest lender by assets, climbed 20 cents, or 1.2 percent, to 16.95 shillings, the highest since Aug. 25. The bank agreed to allow agents of the money-transfer service operated by Bharti Airtel Ltd.’s Zain Kenya unit, which has more than 2 million customers and 10,000 agents in the East African nation, to obtain cash at the lender’s outlets, the Standard reported yesterday, citing Zain Kenya Managing Director Rene Meza. The service, known as Zap, wants to increase the number of agents to 20,000 before the end of the year, it said.

Dangote Flour Mills Plc (DANGFLOU NL), a Nigerian miller, fell 89 kobo, or 5 percent, to 17.01 naira, its lowest in almost six months. Dangote proposed a dividend of 50 kobo per share for the 12 months through December, smaller than expected, Renaissance Capital analyst Akinbamidele Akintola said. “The expectation for Dangote Flour was a dividend of 1 naira per share and probably a bonus of one share for every four held,” Akintola said by phone from Lagos today.

Unga Group Ltd. (UNGL KN), a Kenyan maker of grain products, climbed to the highest in a month, adding 30 cents, or 1.8 percent, to 14 shillings. The company signed an agreement to import as much as 4,000 metric tons of millet a year, which is in short supply in Kenya, from Uganda, Managing Director Nick Hutchinson said in an interview in Nairobi today.

To contact the reporters on this story: Eric Ombok in Nairobi at eombok@bloomberg.net; Vincent Nwanma in Lagos via Johannesburg at vnwanma@bloomberg.net

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