Treasury bond cross listed on RSE

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Treasury bond cross listed on RSE

The recently released Treasury bond has today been launched on the Rwanda stock Exchange today for the secondary market.

The move by the National Bank of Rwanda is aimed at getting more investors interested in subscribing to the bond.

The bond was initially oversubscribed by over 232 percent in the primary market. The Treasury bond is the eleventh bond to be listed since the inception of the Rwanda stock exchange in 2008.

Speaking at the event the governor of the national bank John Rwangobwa noted the need for more individuals to engage in trade.

“There is a lot of appetite from banks for these bonds however we need more of retailers to participate.” the governor noted.

But some would be investors have expressed concern towards the lack of trading on the secondary market, “The challenge here is that most buyers r buying to hold not to sale hence the secondary market is not active.” Joseph Msiko a trader noted.

Meanwhile today on RSE, the market recorded the total turnover of Rwf20,297,700 from 40,500 Bralirwa shares traded and closed at Rwf450 within 3 deals and 8,200 BK shares traded between Rwf250-260 and closed at Rwf260 within 4 deals.

On Bralirwa share price went down Rwf5, and BK share price remained constant compared to yesterday closing price. On KCB shares last transacted at Rwf185 while NMG and Uchumi Supermarket shares last transacted at Rwf1,200 and Rwf175 respectively.

 

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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