The Rwanda Stock Exchange (RSE) closed the month of July on a remarkable high note. The market activities reached new milestones across both public and private sector.
With a surge in fundraising initiatives, deepening investor engagement, and improved secondary market performance, the RSE continues to demonstrate its pivotal role in driving sustainable economic development.
The market mobilized at least Rwf98 billion in the primary market. At the forefront two Treasury bonds were issued and listed on the RSE with a high subscription level of 246% through the regular Treasury bond program.
This significant capital is set to advance key national development goals including capital market deepening while reinforcing investor trust in Rwanda’s sound fiscal policies and stable macroeconomic environment.
Another key highlight was the issuance and listing of the International Finance Corporation’s second tranche under its Medium-Term Note Programme, raising Rwf24 billion. This was also highly subscribed at 171.4% from local investors.
In a groundbreaking move for the private sector and the health industry, Africa Medical Supplier PLC has obtained regulatory clearance to raise Rwf5 billion through the issuance of Rwanda’s first healthcare-dedicated corporate bond. The five-year bond, set at an annual yield of 13.25%, represents a key advancement in leveraging private investment to boost Rwanda’s healthcare capacity and ensure wider availability of critical medical supplies.
Mahwi Grain Millers, a prominent agri-processing company, also announced plans to issue the second tranche of its corporate bond, previously listed on the exchange. The upcoming tranche underscores the growing appetite among local corporates to access long-term capital through the stock market to expand their operations and enhance food security.
During this same month, MTN Group advanced its investor engagement efforts through focused interactions with both the Rwanda Stock Exchange and the Capital Market Authority. These engagements aimed to strengthen corporate transparency, regulatory compliance, and investor communication.
At the same time, the secondary market continued to demonstrate solid performance, with increased trading volumes reflecting growing investor participation now approaching 100.000 active in the market.
Lastly, the other was the official reporting on the REPO market transactions which registered a cumulative value of Rwf367.6 billion This progress represents a major advancement in providing financial institutions with more flexible tools to manage short-term funding needs.
The heightened level of market activity in this July reflects increasing trust in Rwanda’s capital markets as a reliable avenue for raising capital and fueling long-term investment plans.
As the year progresses, Rwanda Stock Exchange remains committed to promoting a robust and inclusive financial ecosystem. The RSE continues to encourage more companies, including SMEs and institutional investors, to explore the capital markets as a sustainable source of financing and wealth creation.
About the author: Pierre Celestin Rwabukumba is the CEO of Rwanda Stock Exchange and President of the African Securities Exchanges Association(ASEA).
