Mahwi Grain Millers Plc has successfully listed its inaugural corporate bond on the Rwanda Stock Exchange, a significant milestone for both the company and Rwanda’s capital markets. This debut underscores the company’s growth ambitions and highlights the expanding appeal of Rwanda’s financial market.
The bond listing represents the latest success of RSE’s Capital Market Investment Clinic program, which supports small and medium enterprises (SMEs) in becoming “investment-ready.” Mahwi Grain Millers is the second company to graduate from this program, joining the fixed-income market as a key player.
According to Rwanda Stock Exchange Chief Executive Officer, Celestin Rwabukumba, the listing is a milestone for the RSE as they celebrate Mahwi Grain Millers’ inaugural corporate bond, the achievement highlights the impact of our Capital Market Investment Clinic program.
“With this addition, we now have three corporate bonds and a market of 10 listed companies, plus 35+ government bonds. Thank you to our investors and teams for your support,” Rwabukumba said.
The new bond increases the number of corporate bonds on the RSE to three, joining Energicotel and a sustainability-linked bond from the Development Bank of Rwanda (BRD). The market also features 10 listed companies and over 35 government bonds.
“Today marks a significant milestone for Mahwi Grain Millers as we list our corporate bond on the RSE. This achievement reflects our team’s dedication and the potential of Rwanda’s financial market,” Mahwi Grain Millers Chairperson, Chantal Habiyakare said.
The Capital Market Investment Clinic, run by RSE in collaboration with the Capital Market Authority and the Ministry of Finance, has been crucial in preparing SMEs like Mahwi Grain Millers for capital-market issuance.
Baraka Capital, the lead transaction advisor, facilitated the bond listing. “This milestone showcases the company’s commitment to growth and offers exciting new opportunities for investors in the capital market,” Baraka Capital Chief Executive Officer, the lead transaction advisor, Davis Gathaara said.
Mahwi Grain Millers’ listing is a beacon for other SMEs, reinforcing Rwanda’s commitment to developing a vibrant and inclusive financial market.
“This achievement not only demonstrates the potential of SMEs in Rwanda but also shows how the capital market can be a long-term funding source,” Rwabukumba emphasized.
