The National Bank of Rwanda head office in Kigali. Sam Ngendahimana.
The government, through the Central Bank, has issued 2020’s first Treasury bond, a seven-year Rwf15 billion.
Like previous bonds, the National Bank of Rwanda says the bond has been issued for purposes of...
capital market development.
Bids for the new T-Bond will be received beginning January 22.
Institutional investors (pension
funds and insurance companies) with accounts at the Central Bank can
deposit their bond application forms directly to BNR, while retail
investors can approach investment intermediaries.
The bond will be listed on the Rwanda Stock Exchange (RSE) and trading on the secondary market will commence on January 24.
The prospectus indicates that
once the trading activities for the Government debt securities have
begun, investors’ interest will be subject to withholding tax at the
rate of 5 per cent.
Investor interest will be paid semi-annually between May 2020 and November 2026
Appetite of individual investors
in the bond market has been increasing over the years with the
Government indicating that their participation has increased over the
years.
Currently, there are over 20 outstanding bonds trading on the secondary market.
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