KIGALI Rwanda (Xinhua) --
Bank of Kigali Group has become the first
Rwandan-registered company to list on a foreign bourse, CEO of
Rwanda Stock Exchange Celestin Rwabukumba said Friday.
The group’s listing
on a regional stock market—Nairobi Securities Exchange based in
Kenya—is a significant step towards achieving sustainable
economic growth and prosperity in Rwanda, said Rwabukumba on the
celebration of the listing in Kigali, capital city of Rwanda.
The bank group,
which had listed on Rwanda Stock Exchange, raised 70 billion
Kenyan shillings (about 684 million U.S. dollars) to cross-list
on Nairobi Securities Exchange, said Diane Karusisi, CEO of the
group, adding that the proceeds of the capital raise will go to
finance the group’s growth strategy, most especially in
innovation and digitization of the bank’s operations.
She also said
trading on the Kenyan bourse would help the group have a larger
access to investors from the international market.
1967, the group made a net profit of 3.4 billion Rwandan francs
(about 15.4 million U.S. dollars) in the first half of 2018 and
projects post-tax profits of about 28 billion francs in profits
at the end of 2018, according to Bank of Kigali.