Kigali – In a landmark development for Rwanda’s capital markets, Africa Medical Supplier Plc (AMS) today listed a corporate bond worth FRW 5 billion on the Rwanda Stock Exchange (RSE).
The bond, which was fully subscribed and carries a 13.25% annual coupon over five years, marks the first time a healthcare supplier has raised capital through the RSE’s bond market.
The proceeds will be used to refinance existing debt and fund AMS’s growth strategy, enabling the company to expand its distribution of essential medical supplies – including equipment, pharmaceuticals, and diagnostic products – to healthcare institutions, pharmacies, NGOs, and international agencies.
AMS Chief Executive Officer, Fabrice Shema Ngoga, hailed the listing as the start of “a new chapter defined by innovation, trust, and a shared vision of progress.”
In his keynote address, he emphasized: “This is not an endpoint but a beginning. It is a call to action for all stakeholders to join hands in the pursuit of lasting impact.”
The achievement also underscores the success of Rwanda’s efforts to deepen its capital markets. Pierre Celestin Rwabukumba, CEO of the RSE, noted that AMS is the first company from the healthcare sector to graduate from the Capital Market Investment Clinic and list on the exchange.
“This serves as a good example for other SMEs and corporates on what’s possible in our capital market today,” he said.
Thapelo Tsheole, Chief Executive Officer of the Capital Market Authority, added: “When a company chooses to raise capital through the capital market, it is not only securing funds – it is elevating its profile and enhancing its credibility.”
The RSE, which now lists 10 companies and 91 bonds including today’s listing, continues to play a pivotal role in mobilizing investment for Rwanda’s economic development.
Established in 2008, AMS has grown to become a key player in Rwanda’s healthcare supply chain. Its successful bond issuance reflects growing investor appetite for corporate debt and the expanding opportunities for private sector financing in Rwanda.
The Rwanda Stock Exchange was established in 2005 to facilitate the trading of securities and promote investment in Rwanda’s economy. It currently lists equities and corporate and government bonds.
Africa Medical Supplier Plc specializes in the distribution of medical equipment, hospital furniture, rapid diagnostic tests, consumables, and pharmaceuticals across Rwanda and the region.
