Browsing: Investing in Rwanda

Innovation key to Rwanda’s financial sector growth 

Countries

The East African country is in a booming phase. Innovations in the financial sector have played a significant role in catapulting Rwanda’s economy. Economic growth has ballooned at an average of 7.2% per year. 

 

Mobile banking, communication networks development and growth-oriented policies have seen the country’s financial sector fostering growth in the economy. Rwanda is one of the fastest-growing nations in Africa. Significant progress has been made, considering the political landscape the country was coming from, post the horrific 1994 genocide. …

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Rwanda expects $40m economic growth boost

Rwanda expects $40m economic growth boost

Investing

Rwanda is eyeing an economic boost from its inaugural $40 million bond, which was issued at the UK-Africa Investment Summit 2020.

The  World Bank issued the Rwandan franc-denominated paper to finance government projects in the 2019-2020 financial year budget. The bond offers investors an annual coupon of 9.25 per cent which will mature on January 20, 2023.

“The World Bank has a big portfolio of investors, which the country will be banking on,” said Celestin Rwabukumba, the chief executive officer of Rwanda Stock Exchange.

The bond is the seventh in sub-Saharan African that the World Bank has issued. It is expected to increase confidence and help attract foreign private investment that the country needs to achieve sustainable long term economic growth.

Also Read: Rwanda launches campaign to collect 1M smartphones

“Capacity building in local capital markets is a critical component of international development finance. This transaction highlights the potential to …