Rwanda Bourse Drops as Savings Week Kicks Off

The savings week kicks off today in Rwanda under the theme; “Our savings, Our Wealth.”

The week is aimed at sensitising the Rwandan population on the importance of savings not only for individuals and households, but also for the country.

The 2016 Finscope Survey indicates that 89% of Rwandans are financially included compared to 72% in 2012 and 48% registered in 2008.

Currently, over 86% of Rwandans save compared to 71% in 2012. This has seen the number of deposit accounts increase from 1, 736, 203 in June 2016 to 1,871, 858 in June 2017 as number of borrowers dropped from 299,498 to 261,871 in the same period.

Savings collected compared to withdrawals within the period indicate that Rwandans managed to spare over Rwf129 million in 2017 compared to Rwf128 million in 2016.

Introduction of Umurenge SACCOs, creation of the National Investment Trust, promotion of agent banking, mobile money, ATMs and Mobile banking insurance among others have attributed to this growth, enabling Rwandans to be financially included.

Meanwhile, on the local bourse, both the stock and shares index went down 1.65 and 0.23 points to close at 127.44 and 132.35 respectively.

Today on RSE market only a few equities changed hands while the bonds market was quiet as two Rwandan stock listed companies faced low performance.

For example Crystal telecom (CTL) counter closed at Frw69 (Frw 69 previous). The trading session recorded a total turnover of Frw 96,600 from 1,400 shares traded in one deal.

While on Rwanda’s largest beverage company Bralirwa (BLR) counter closed at Frw 135(Frw 140 previous). The trading session recorded a total turnover of Frw 2,983,500 from 22,100 shares traded in two deals.

The equities counters closed as follows: Bank of Kigali (BK): Frw 285; I$M Bank (IMR): Frw 95; Equity Bank (EQTY): Frw 350; Nation Media Group NMG: Frw 1200; Kenya Commercial Bank (KCB): Frw 340; and Uchumi (USL): Frw 104.

Formal trading hours, closed with BK counter having outstanding offers of 137,000 shares between Frw 285-300 and no bids.

On BLR counter there was an outstanding bid of 1,000 shares at Frw130 and no offers.

On CTL counter, there were outstanding offers of 483,100 shares between Frw 69-73 and no bids.

IMR counter, there were outstanding offers of 2,082,000 shares between Frw 96-100 and an outstanding bid of 210,000 shares at Frw 95.

On Equity counter there was an outstanding bid of 4,600 shares at Frw350 and no offers.

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