Why investors in Africa should tap global depositary receipts

A trader talks on the phone as he works on the floor of the New York Stock Exchange. PHOTO | REUTERS

On April 16, the Russian government passed a law preventing ordinary shares underlying the global depositary receipt (GDRs) from having voting rights and receiving dividends.

Assailed by Western sanctions, Moscow took the drastic step to de-list Russian receipts from foreign exchanges to convert them into local Russian securities in a bid to reduce foreigners’ control over these companies.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.