Kigali, 06 July 2011
President Kagame today entered the books as one of the first Rwandans to purchase shares in Bank of Kigali. The President’s action is aimed at directly supporting the development of a vibrant Rwandan capital market as a channel for long term savings mobilization.
Speaking to the press after the president made the transaction, the Bank of Kigali Managing Director said: “This action (of buying shares) by the President will do a lot to not only support our young Capital Market but also serve as an example to Rwandans – he is leading by example by encouraging Rwandans to develop a culture of saving and investing.”
The Government is privatizing 20 per cent of its shareholding while another 25 per cent new additional shares will be issued by BK itself. The total of 45% shares will be listed at the Rwanda Stock Exchange. In total, 300,304,400 shares are on offer, of which 60% will be allotted to domestic and regional investors and 40% to international investors.