KIGALI (Xinhua) -- The
Rwandan government’s sale of its stake of 19.81 percent in I&M Bank (Rwanda)
Limited to the public has been oversubscribed, the finance ministry said in a
statement on Monday night.
The Offer for
Sale involved the issuance of 99,030,400 shares that were made available to
program allotted 60 percent of the shares to Rwandan and East African investors
and balance of 40 percent was allotted to foreign investors.
of shares applied from across all pools were 206,893,000 over and above the
99,030,400 shares that were on offer, which represents an oversubscription rate
of 209 percent, the finance ministry said.
subscription ... is a testimony to the confidence investors have in the economy
of Rwanda generally and the bank in particular. Oversubscription of the shares
also gives credibility to the government of Rwanda’s privatization program,”
said Claver Gatete, Rwanda’s Minister of Finance.
successfully carried out allotment of the shares to the successful applicants,
we are confident that the listing of the shares on Rwanda Stock Exchange will
facilitate the growth of our capital markets,” Gatete added.
in 1963, I&M Bank Rwanda (erstwhile Banque Commerciale du Rwanda Limited - BCR)
is the Rwanda subsidiary of I&M Bank Group Limited and the first bank in Rwanda.
in Nairobi, Kenya, the bank is a leading financial services provider with
operations in four countries in Africa.
the company’s product offering includes business banking, personal banking,
diaspora banking as well as corporate banking.
Rwandan opposition Green Party names
presidential flag bearer
KIGALI Rwanda (Xinhua) --
Rwanda’s opposition Democratic Green Party has nominated Frank Habineza as its
flag bearer for the coming presidential elections slated for August 4.
released by the party on Tuesday said the flag bearer was elected at the party’s
first national congress held last Sunday.
issued by Jean Claude Ntezimana, the party’s secretary-general, outlines several
areas in their manifesto.
fighting food insecurity by introducing better farming methods, addressing
unemployment, introducing sustainable progressive taxation, and promoting
freedoms of expression, association, worship, and media.
to establish at least one hospital per district and a reference hospital each
province, and set up health centers in all administrative sectors of the
go to polls on August 4 to elect the Head of State in the country’s third
multiparty presidential elections, while Rwandans abroad will cast votes a day
constitutional amendment passed last year means that President Paul Kagame of
the ruling Rwandan Patriotic Front is eligible to stand for re-election for
another seven-year term.
the National Electoral Commission indicate that about 6.6 million Rwandans are
expected to cast their vote in the election.
first multiparty democratic presidential poll took place in 2003 while the
second in 2010. Both were won by Kagame. Political analysts believe Kagame will
easily win another term.