Rwanda’s Capital Markets Advisory Council (www.cmac.org.rw) has launched a 2 weeks’ pre-offer campaign across the country to sensitize people ready for the initial public offer (IPO) of BRALIRWA. The Government is selling its 30% shareholding in Rwanda’s main beer and soft drinks manufacturer and distributor. Heineken previously bought 70%. from the Government and remains the major shareholder.
According to a report in the New Times newspaper (www.newtimes.co.rw), no date has yet been set for the IPO and discussions continue, but it is still expected this year.
The paper quotes Celeste Rwabukumba CMAC Operations Manager:”This is the first phase of the campaign and we are targeting opinion leaders, business people as the IPO take place soon.” He said that the campaign would inform the public about the benefit of buying the Government shares which are intended to benefit them.
The pre-offer campaign started in the Northern Province and will then move to other parts of the country. It will include media such as radio, television and newspapers.
After this IPO, Government is expected to sell its shares in other major companies, including MTN Rwanda and Sonarwa, an insurance company.
CMAC is the overseer and regulator of Rwanda’s stock markets. It also charged with contributing to Rwanda becoming a competitive financial centre in the region.