Two companies set to list on Rwanda Stock Exchange Market

By Elina Jonas Ruzindaza
On 8 July 2020 at 02:43

Rwanda Stock Exchange (RSE) has confirmed that this year four companies are expected to join this market, including two that have almost completed all requirements for floating their shares on the stock market.

Last month, South Africa’s RH Bophelo Ltd, an investment in health services, officially entered the Rwandan Financial and Stock Exchange, becoming the ninth in the market.

It is expected to open its doors to those interested in investing in Rwanda and the region.

RSE Chief executive Celestin Rwabukumba told The East African that the approval process of preparing to host other Rwandan companies operating in the industrial sector is at an advanced stage.

“I expect to see more companies come to the market. We have four transactions in the pipeline this year, of which two are at advanced stages in terms of approvals. These two companies are ready and can come onto the market at any time,” said Mr. Rwabukumba.

He said this year has not been bad for them in terms of financial and stock markets, although investors are likely to be cautious with the stock market because of the Covid-19 pandemic that has caused some to sell off their investments.

The management of the cement factory, CIMERWA, recently announced that it is meeting all the requirements to enter other institutions listed in the Rwanda stock exchange, in line with its development goals.

Speaking to reporters in May, Cimerwa Mayor Albert K. Sigei said he was preparing to go to the stock exchange market even though it was still in the hands of the regulators.

When the company goes to the stock exchange market, it is taxed for five years, which varies depending on the shares sold and can reach 20%.

Currently, the Rwanda Financial and Stock Exchange has nine companies namely RH Bophelo Ltd, Crystal Telecom, Bralirwa, Uchumi Supermarket Ltd, National Media Group, BK Group Plc, Kenya Commercial Bank (KCB), Equity Bank Group Ltd and I&M Bank Rwanda.

Rwabukumba Pierre Célestin says they are ready to host more companies this year