Next week the National Bank of Rwanda will issue its first treasure bond of the year. The Rwf15B t-bill (approximately £12 Million) has a maturity of 7 years and will be accepting bids beginning January 20.
The bond will then be listed on the Rwanda Stock Exchange (RSE), trading on the secondary market from January 24 onwards. Institutional investors will be able to deposit their application forms directly to Bank of Rwanda , while retail investors should use investment intermediaries.
According to the prospectus, interest will be paid semi-annually between May 2020 and November 2026 and once the trading begins, investors’ will be subject to 5% tax withholding on their interest.
There are currently over 20 outstanding Rwanda bonds trading on the secondary market.