The tranche, which was oversubscribed, follows the successful listing of the first tranche valued at Frw 3 billion, bringing the company's total raised funds under the program to the full Frw 5 billion.
Speaking at the listing ceremony, RSE Chief Executive Officer Pierre Celestin Rwabukumba said the development reflects investor confidence in Rwanda's capital market and the agricultural sector.
'This achievement highlights the vitality of our market as a preferred platform for capital raising. The funds raised through this bond will be directly channeled into projects that ensure the benefits of agriculture extend far beyond the field,' he stated.
Echoing the sentiment, Capital Market Authority CEO Thapelo Tsheole noted that Mahwi's success demonstrates the steady evolution of Rwanda's capital market.
'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,' Tsheole said.
For Mahwi Grain Millers, the listing signifies market trust, moving beyond a simple financing transaction. Company Chairperson Chantal Habiyakare explained that issuing the bond in two tranches was a deliberate confidence-building strategy.
'We issued the bond in two tranches because we wanted to build confidence in the market, and today's listing proves that we have succeeded. As a company, we have experienced tremendous growth since the listing of the first tranche,' she said.
Founded in 2018, Mahwi Grain Millers specialises in processing grains into food and animal feed at an industrial scale. The company currently produces 150 metric tons of refined maize flour per day, supplying both domestic and regional markets.
The latest listing further strengthens the RSE's corporate bond board, which now counts five corporate bonds alongside 85 treasury bonds and 10 listed companies. Since its incorporation in 2005, the RSE has been a central player in mobilising long-term domestic and international capital for Rwanda's economic transformation.
Wycliffe Nyamasege
