Government woos local investors to buy shares in I&M BANK
Written by: Tuyizere Daniel
Tuesday, February 28th, 2017, 22:17
Following an Initial Public Offer (IPO) and listing on the Rwanda Stock Exchange (RSE) of I&M Bank Rwanda, the Ministry of Finance and Economics Planning (MINECOFIN) kicked off a countrywide citizen outreach to encourage people to buy the listed government shares.
The offer for sale of 19.81% shareholding held by the government in I&M Bank was launched on the 14th February and has already been extended to 10 March 2017. Government says its already receiving enthusiastic local and regional investors.
The Ministry said, the sale of its stake to the public is part of the government’s policy of divesting from public enterprises.
Edward Kabangura, from MINECOFIN during the outreach initiative in Karongi said, the objective is to encourage investment amongst citizens in Rwanda and promote the development of the country’s capital markets.
Resident of Karongi emphasized their interest in acquiring some shares because they already know the impact of buying the shares at Rwanda Stock Exchange.
“I would like to tell you that as citizens and traders in Karongi, we are ready to buy those shares because, those who bought shares at this market before are already earning,” Aimable Urimubenshi told Radio Rwanda.