Rwanda: Bourse Trades FRW202 Million Worth of Bonds
The New Times (Kigali)
2 September 2008
Posted to the web 2 September 2008
The Rwanda over the Counter market has gained momentum with Frw202 million worth of treasury bonds traded in two weeks.
Céléstin Rwabukumba, Operations Manager Capital Markets Advisory Council (CMAC) attributed the increase in the turnover to the confidence expressed by both local individual and institutional investors.
"What is needed is to boost more investor confidence in order to have more participants on the Rwanda OTC Market," he said.
This week bonds worth Frw2 million were traded in one recorded transaction at Rwf 99.35 compared to Frw200 million traded in the previous week.
A market report from the CMAC says that "at the close of business on Friday, there were Frw150 million worth of bonds on offer at Frw100.25 but there were no buyers."
BCR bank bonds worth Frw150 million were also on offer at Frw100.50.
Last week, the Rwanda OTC market recorded Frw200 million in one recorded transaction at the price of Rwf 99.
At the close of business in the same week, there were Frw150 million worth of bonds on offer at Frw100.25 but there were no buyers. There were also BCR bank bonds worth Frw150 million on offer at Frw100.50.
Financial experts have suggested that a strong and buoyant capital market is necessary if capital is to be efficiently allocated in the economy.
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