The Development Bank of Rwanda (BRD) recently announced that the latest bond issuance was overwhelmingly embraced by small investors, surpassing expectations with a participation rate of 212%.
This bond investment opportunity required a minimum contribution of 100,000 Rwandan Francs, and BRD had made significant efforts to encourage small investors and individuals to participate. Leveraging technology, BRD successfully attracted a high number of participants from this group.
As a result, the bond issuance exceeded the targeted amount, raising 39.05 billion Rwandan Francs instead of the projected 30 billion, achieving an overall subscription rate of 130.2%. Due to the high demand, BRD decided to accept an additional 3.5 billion Rwandan Francs, bringing the total funds raised to 33.5 billion.
BRD’s CEO, Kampeta Sayinzoga, emphasized that this strong participation would further empower the institution to pursue solutions that enhance the country's development programs.
Investors who purchased these bonds will benefit from an annual return of 12.9% over a seven-year period.
