The Rwanda Stock Exchange is seeking a minimum of five new listings in the next three years, Reuters reports. The move follows the sale of investments in major state-owned firms by the government to bolster the bourse.

Nearly 20 companies may be up for sale to the public by the Rwandan government, which intends to divest a 20 percent stake in Rwandan insurer Societe Nouvelle d'Assurance du Rwanda and its holding in telecom operator MTN Rwanda. Other firms likely to cross-list include hotel chain TPS Eastern Africa and Kenya Airways.

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