{A total of 99,030, 400 Government of Rwanda shares in I&M Bank equaling 19.81% are on sale with each trading at Rwf 90. } <\/p>\n
Rwanda invested in I&M Bank from 1963 but has recently decided to sell the shares to get funds for construction of Bugesera International Airport. <\/p>\n
As he presented the 2017\/208 budget preview on 7th February 2017before parliament,the Minister of Finance and Economic Planning, Amb. Gatete Claver said that the government is set to sell its shares in I&M Bank part of which proceeds will be used to fund construction of Bugesera International Airport.<\/p>\n
Bugesera International Airport is expected to be completed in 2018 at a cost of over USD 800 million. Rwanda owns 25% of the shares in the project while the remaining 75% belongs Portuguese company, Mota-Engil Africa.<\/p>\n
In the official ceremony of putting shares for sale , Minister Gatete encouraged Rwandans to maximize benefits from the opportunity by investing in the shares. <\/p>\n
\u201cThis is a great opportunity for Rwandans, the region and beyond of investing and saving,\u201d he said. <\/p>\n
\u201cThe government puts for sale shares to motivate other private investors to enable Rwandans and other foreigners own shares in the respective institutions,\u201d he added. <\/p>\n
The chairman of the board of I&M Bank Rwanda, Bill Irwin has commended the government of Rwanda for having demonstrated good cooperation as a shareholder leading to its progress and Rwandans in general. <\/p>\n
I&M Bank becomes the 4th Bank to be listed on Rwanda Stock Exchange following Equity Bank, KCB and Bank of Kigali (BK).<\/p>\n
The CEO of Rwanda Stock Exchange, Pierre C\u00e9lestin Rwabukumba has said that more people will be attracted as I&M Bank is a credible bank.<\/p>\n
\u201cIt is a credible bank in the country. We believe people\u2019s appetite in buying shares will increase because it is a local bank,\u201d he said. <\/p>\n
The sale of shares in I&M Bank will close on 3rd March 2017. Customers can buy at the least a minimum of 1000 shares from Rwanda, Nairobi in Kenya and London in England. <\/p>\n","protected":false},"excerpt":{"rendered":"
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