The acquisition, announced through a statement released on August 27, 2026, follows RSSB’s previous ownership of 40% in Inyange Industries and 50% in Ruliba Clays.

Inyange Industries is one of Rwanda’s major food and beverage processing companies, having built a strong reputation in both the local and regional markets. Meanwhile, Ruliba Clays plays an important role in the construction industry, particularly in the production of building materials.

RSSB said the move reflects its confidence in the long-term growth potential of the two companies and is in line with its mandate to protect and grow members’ funds through investments that can generate sustainable, risk-adjusted returns.

Inyange Industries has established a strong position in the market and continues to record business growth, according to RSSB.

Ruliba Clays, meanwhile, is entering a new phase of expansion following the completion of its second manufacturing plant, which has doubled its initial production capacity and positioned the company to meet growing demand in Rwanda and the region.

With full ownership, RSSB said it will support the companies’ next phase of development, focusing on stronger governance, operational performance, disciplined use of capital, regional expansion and sustainable profitability.

The pension fund also said it will explore strategic partnerships and capital-market opportunities over time, including the possible involvement of institutional investors or public listings where such moves can create long-term value for its members.

RSSB has co-invested with CVL in Inyange Industries since 2014 and in Ruliba Clays since 2009. The transaction is also consistent with CVL’s strategy of divesting from mature businesses after they reach an appropriate level of scale and stability.

RSSB Chief Executive Officer Regis Rugemanshuro said the acquisition demonstrates the institution’s confidence in the future of the two businesses.

“Moving to full ownership reflects our conviction in the long-term potential of these businesses,” Rugemanshuro said.

He added that RSSB’s ambition is to help build stronger, more competitive and profitable companies that can expand beyond their current markets, attract strategic partners and generate sustainable returns for members.

Beyond financial returns, RSSB said the continued growth of the two companies is expected to contribute to Rwanda’s industrial development through stronger domestic manufacturing, support for local value chains, job creation and improved competitiveness of Rwandan products in regional markets.

RSSB said it will continue to pursue prudent and active investment management aimed at protecting and growing members’ funds while supporting the long-term financial sustainability of the social security schemes it manages.