- Mahwi Grain Millers issues $1.37mn bond on Rwanda’s bourse
- Move signals growing investor confidence in Rwanda’s capital market
KIGALI, RWANDA – Mahwi Grain Millers Plc has raised $1.37mn in a second tranche bond under its $3.34 million five-year note programme, underscoring rising investor confidence in Rwanda’s financial market.
The country’s largest grain miller said the funds would finance maize aggregation – the purchase of maize during harvest seasons – and secure raw material supply to sustain production during dry spells.
The bond marks the company’s second issuance and the second corporate bond on the Rwanda Stock Exchange (RSE) in less than a week, signalling renewed appetite among local firms to raise long-term capital through the bourse.
Mahwi’s move also highlights Rwanda’s growing capital market depth, bringing the total number of listed instruments to more than 100. These include seven corporate bonds across agriculture, energy, health and finance, 86 government bonds, and 10 listed companies.
Boost to investor confidence
Chantal Habiyakare, chairperson of Mahwi’s board of directors, thanked investors for their trust and reaffirmed the company’s commitment to the local market.
“We are grateful to those who trusted us, and it has shown that Rwandans and our corporates are ready to increase the investments into our private companies and to increase the savings that are channelled into the stock exchange,” she said.
The company, which produces grain and milling products, said the proceeds will also be used to enhance operations and expand capacity to meet growing demand in Rwanda and neighbouring markets.
Thapelo Tsheole, Chief Executive Officer of the Capital Markets Authority (CMA), praised the bond’s success as a milestone for the country’s financial sector.
“This success is a testament to the evolution of Rwanda’s capital market,” he said.
“The new tranche increases the diversity of fixed-income instruments and signals a market that shows steady maturation, broader opportunities, and stronger collaboration across issuers, intermediaries, and investors.”
Rwanda’s CMA has been central to positioning the country as a competitive financial hub by mobilising long-term capital and fostering transparency in the marketplace.
Each new listing, it says, strengthens the RSE’s role as a sustainable platform for businesses to raise funds, innovate, and contribute to national economic growth.
