Rwanda | - Part 3

Rwanda sets I&M Bank IPO share price at 90 francs

KIGALI (Capital Markets in Africa) – The initial public offering of shares in I&M Bank Rwanda Ltd have been priced at 90 francs ($0.1085) each, the Rwandan finance ministry said on Tuesday. The government is selling 99,030,400 shares, representing a 19.81 percent stake in the lender, with the proceeds set to fund the construction of a second airport near the capital. The offer opened on Tuesday and is expected to close on March 3, the…

Rwanda to sell 20 pct stake in I&M Bank next week

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NAIROBI (Capital Markets in Africa)) – The Rwandan government plans next week to sell its 20 percent stake in I&M Bank operations in Rwanda, with the aim of raising 11.5 billion francs ($14.1 million), a minister and a senior executive said. The initial public offering (IPO) would be launched on Feb. 14 and the proceeds would be used to help finance a new airport at Bugesera, east of the capital Kigali, the officials said. “The…

High Interest Rates: How do they impact Small Businesses in East Africa?

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JOHANNESBURG (Capital Markets in Africa) – Small & Medium Businesses in East Africa should be looking at ways to maximise their efficiency and improve debt management to navigate the risks that high interest rates pose for their businesses. That’s the word from Billy Owino, Regional Director for Sage East Africa (www.Sage.com), the market leader for integrated accounting, payroll, and payment systems. He says that business builders feel the pressure of rising interest rates more severely than…

CMA and IFC in improving corporate governance practices in Rwanda

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KIGALI (Capital Markets in Africa) – The Capital Market Authority (CMA) in partnership with International Finance Corporation (IFC), a member of the World Bank Group host a breakfast meeting themed “Corporate Governance; the pathway to sustainable business growth in Rwanda” on Wednesday, November 16th , 2016 to raise awareness on issues related to Corporate Governance as a sustainable driver of business growth. Good corporate governance practices will attract investors to emerging markets’ businesses and address…

Best Western Continues Impressive Expansion into East Africa

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KIGALI (Capital Markets in Africa) – Best Western® Hotels & Resorts adds another hotel to its East African portfolio. The newest addition is BW Premier Collection The Alba, located in Nairobi, Kenya. Centrally located, with easy access to businesses, offices, banks, shopping and tourist attractions, it is the ideal place to stay in Nairobi for either business or pleasure. The new construction property, set to open in Q3 2017, features 83 carefully designed rooms all…

Moroccan and Rwandan Central bank keep rate unchanged in Sept

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CASABLACA/KIGALI, Capital Markets in Africa: – Morocco’s central bank kept its benchmark interest rate unchanged at 2.25 percent on Tuesday, saying the inflation forecast was consistent with its price stability objective. The bank, known as Bank al-Maghrib, said it expected inflation to remain around 1.6 percent in 2016 and fall to 1.2 percent in 2017. Expecting agricultural output to rebound in 2017 from the worst drought in decades to hit North Africa, the bank said…

Rwanda’s economic growth slows to 5.4 pct in Q2

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KIGALI, Capital Markets in Africa: Rwanda’s economy grew by 5.4 percent in the second quarter of the year, down from an expansion of 7.2 percent in the same period last year, the statistics office said on Tuesday. The country has had a stellar run in recent years, posting faster growth than other East African economies, but it has been curbed by a weakening of the currency this year, after imports surged. Yusuf Murangwa, the director…

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