In a significant move showcasing the potential of Rwanda’s capital market, Mahwi Grain Millers Plc successfully raised Rwf3.3 billion through the first tranche of a Rwf5 billion note program, a strategic initiative aimed at supporting its expansion and diversification efforts.
Established in 2018 and based in the Bugesera Special Economic Zone, Mahwi has positioned itself as a key player in the grain processing sector, producing and distributing 150 tones of refined maize flour daily.
Mahwi Grain Millers specializes in turning grains into high-quality food products for both human and animal consumption. Its product lineup includes fortified maize flour targeted for school feeding programs, premium flour for the discerning consumer, and offerings designed for export markets. With a processing capacity of 250 tones per day, the company is well-equipped for further operational scaling.
The successful fundraising was made possible through the approval of the Rwanda Capital Market Authority (CMA), which emphasized the importance of corporate governance, financial record availability, and comprehensive prospectus issuance to inform potential investors.
“This milestone not only aids Mahwi in expanding its operations but reinforces Rwanda’s vision of achieving self-reliance in agriculture,” Managing Director of Mahwi Grain Millers, Jean Claude Uwizeyemungu stated.
According to Pierre Célestin Rwabukumba, CEO of the Rwanda Stock Exchange, Mahwi’s journey in capital raising began at the “Capital Market Investment Clinic,” a program designed to help SMEs navigate the complexities of the stock market. Rwabukumba is optimistic and encourages other SMEs to consider the capital market as an accessible avenue for funding.
CEO of Rwanda’s Capital Market Authority, Thapelo Tsheole, emphasized the crucial role of capital markets in supporting Rwanda’s developmental goals under the Second National Strategy for Transformation (NST2).
He noted that capital markets are essential for unlocking additional funding opportunities for SMEs to propel their growth.
As Rwanda’s capital market evolves, it promises to enhance businesses’ access to capital and offer institutional and retail investors compelling long-term investment opportunities. Mahwi Grain Millers’ successful fundraising initiative serves as a beacon for other enterprises looking to leverage this growing financial landscape.
