Health care group RH Bophelo lists on the Rwanda Stock Exchange

In a monumental move, South African multi-million dollar healthcare company RH Bophelo successfully listed on the Rwanda Stock Exchange (RSE) today, marking the 9th company to be listed on the RSE stock market. The CEO of the Rwanda Stock Exchange, Celestin Rwabukumba, joined CNBC Africa for an exclusive discussion on this significant event. The listing of RH Bophelo on the RSE comes at a pivotal time as the company aims to raise $20 million in revenue from the exchange by the end of the year. Rwabukumba expressed confidence in the company's ability to meet this target based on the market's response to previous listings. He highlighted the success of companies utilizing the RSE platform to raise capital and emphasized the support provided by African community investors. The CEO also shed light on the increasing investor appetite on the RSE, despite the global crisis triggered by the COVID-19 pandemic. Rwabukumba noted that Rwanda's economy is showing resilience across all sectors. The country is transitioning from its 2020 vision year to the National Strategy for Transformation 1 (NST1), a seven-year plan aimed at driving economic growth and development. He mentioned that strategic sectors such as healthcare and infrastructure manufacturing are likely to attract investors looking for resilient investment options. The CEO acknowledged the positive signs in ongoing infrastructure projects that indicate a potential economic rebound post the pandemic-driven slowdown. Rwabukumba also addressed the trading volumes on the RSE, stating that May showed stability compared to last year, with a slight increase in activity from April. When questioned about the progress of Cimerwa PPC’s listing on the RSE and other companies in the pipeline, Rwabukumba revealed that Cimerwa PPC is finalizing its documentation and nearing completion. He anticipated a formal update in the upcoming weeks. Additionally, he hinted at several other companies in the process of preparing their listings on the RSE, refraining from disclosing further details due to confidentiality agreements. The successful listing of RH Bophelo on the RSE symbolizes a growing trend of companies seeking opportunities in the Rwandan market, reflecting investor optimism and confidence in the country's economic potential. As Rwanda continues to navigate through the uncertainties posed by the global pandemic, the resilience of its economy and the attractiveness of sectors like healthcare and manufacturing are expected to drive continued interest from investors both within and beyond the region.