Central Bank’s Governor John Rwangombwa has promised investors in Rwandan Bond that they will not regret their decision of investing in.
Rwangombwa was speaking to the participants to the UK-Africa Investment Summit in London on January 20, 2020 after launching the first Rwandan Franc denominated bond listed on the London Stock Exchange.
The Summit laid the foundations for new partnerships between the UK and African nations based on trade, investment, shared values and mutual interest. Billions of pounds of new commercial deals were announced highlighting the strength of the UK’s offer and existing relationship with Africa.
The UK also announced new initiatives and funding which is expected to strengthen the joint trading relationship, support African countries in their ambition to transform their economies, launch a major new partnership with the city of London, turbo-charge infrastructure financing, and enable Africa’s clean energy potential.
“To the investors that have trusted our currency by taking on the currency risk in this investment in the Rwandan bond, I want to assure you that you won’t regret your decision.The Rwandan Government is a mature and reliable economic manager and I can guarantee you positive returns to your investment.” Rwangombwa said.
“In fact, let me take this opportunity to invite you to pick interest in investing directly in Rwandan Government Domestic Bonds issued on the Rwandan Stock Exchange on a monthly basis.” He added.
Performance of the Rwandan Economy
Rwangombwa highlighted that in the past five years, the Rwandan Economy was one of the highest performing economies in the world, with an average growth of 7.6 %.
In 2018 itself the growth was 8.6% and it rose to 10.8% in the 1st three quarters of 2019. The economic growth is projected to remain robust above 8% over the next three years.This good growth is anchored by stable inflation, averaging 3.4 % over the past five years. The Rwandan Franc has also remained stable, depreciating by 4% on average against the USD over the last three years.
“As we all know the World Bank has today issued an offshore Rwandan Francs denominated bond worth USD 40 million (roughly RWF 37 billion). Linked to today’s event you have played a key role in the development of our financial sector and more specifically in the capital markets development. This issuance of a Rwandan franc denominated bond on the international market by the World Bank, demonstrates the trust you have in our economy and more so in our economic management.” He said.
You have used your global rating to invite international investors to have trust in our currency. We also appreciate that the proceeds of this bond will be invested in Rwanda Government bond issued on our local capital market and listed on the Rwanda Stock exchange.
Rwangombwa said that this will greatly contribute to the development of Rwandan capital market.
He lauds efforts by Jingdong HUA. Jingdong Hua, Vice President and Treasurer of the World Bank for his personal commitment to promoting the development of capital markets in developing and emerging economies.
The Express News