Over 20 state-owned companies are set to be privatized starting this year through the capital and stock market.
This decision was made by the regulators of these companies following a recent press conference where the Head of State discussed the matter.
The companies slated for privatization primarily operate in the services, banking, insurance, transportation, and agro-processing sectors.
The government plans to sell some of its shares in these companies through the capital and stock market, transferring ownership to private investors interested in purchasing them.
These companies have been under review for a year, as noted by President Paul Kagame during his recent discussion with journalists last week. He mentioned, “This is in progress, it’s being done, and there is a team of people following up on it. You know the Agaciro Fund oversees state-owned companies and their affiliates, and in this process of privatizing these companies, we’re talking about.”
Ulrich Kayinamura, the CEO of the Agaciro Development Fund, which supervises these companies, confirmed this information and explained that they are still conducting studies on the structure of these companies to ensure proper governance and management before they are listed on the market.
These companies will be listed on the capital and stock market to help develop the market and increase the number of companies trading their shares, which will also attract more investors. Currently, there are about 10 companies listed on the market with a total value of 2.7 billion US dollars.
Data from last year indicates that 41 bonds were also traded on this market, with a total value of 1.5 billion US dollars.
