According to a statement issued by the Central Bank, the money will be invested in infrastructure projects and Capital Market development.
The reception of bids will be opened from 19th to 21st February. The maximum bid will be Rwf50 million while the minimum bid will be Rwf100.000.
According to BNR, the bond is mainly targeted to individuals that are saving for the future and those with short term cash looking for returns above bank deposit rates.
“The Bond Market in Rwanda is very active and investing in a five-year bond does not mean your money will be locked for five years. You can sell them at any time and recover your money plus the accumulated interest,” reads the statement.
BNR says that the bond market has attracted many individual investors and has been growing at rate of 300% since 2014. This growth is due to the fact that individual investors are able to sell or buy Government Bonds easily.
The payment process will take place from August 24th 2018 until February 17th, 2023.