At the RSE, where the IFC on Friday listed it’s latest African bond
The International Finance Corporation (IFC), a member of the World Bank Group, has successfully listed an Rwf 24 billion ($17 million) corporate bond on the Rwanda Stock Exchange (RSE), marking a significant milestone in Rwanda’s efforts to deepen its capital markets and attract sustainable investment.
The 8-year bond, carrying a 10.25% annual interest rate, was officially listed on Friday, July 18, at a ceremony attended by senior government officials, market players, and representatives from IFC and the World Bank.
The bond proceeds will be used to support private sector growth in Rwanda, with a particular focus on climate-smart, inclusive, and sustainable investments.
This is not IFC’s first listing in Rwanda. In 2014, the institution issued a Rwf 15 billion bond, which was fully subscribed and successfully matured, demonstrating investor confidence in IFC and Rwanda’s financial system.
The new bond, larger and with a longer maturity period, signals IFC’s renewed commitment to Rwanda’s development ambitions.
Speaking at the listing ceremony, Finance and Economic Planning Minister Dr. Uzziel Ndagijimana praised the move as a strong endorsement of Rwanda’s macroeconomic stability and regulatory framework.
“This bond is not only a vote of confidence in our financial markets but also a tool that will enable the private sector to access long-term financing,” he said.
IFC Vice President for Africa, Sérgio Pimenta, emphasized that the funds raised will be deployed to support companies involved in green projects, infrastructure, and small business development.
“We are here to create markets and help mobilize capital for development. Rwanda is a key partner in our strategy,” he noted.
The Rwanda Stock Exchange continues to grow steadily, with this listing bringing the total number of listed securities to 10, alongside more than 90 debt instruments issued by various entities.
The listing of such a high-value bond from a global development finance institution is expected to increase the visibility of Rwanda’s capital market and encourage more private sector participation.
This latest bond listing is also in line with Rwanda’s broader goal of positioning Kigali as a regional financial hub through the Kigali International Financial Centre (KIFC), which aims to attract capital, talent, and financial innovation to the country.
