No shares exchanged hands yesterday at Rwanda Stock Exchange despite many offers on the table, Tuesday’s market report indicates.

Bank of Kigali had 144,100 shares at between Rwf292 and Rwf300, but there were no buyers. On the Bralirwa counter, there were offers of 128,400 shares at between Rwf385 and Rwf410 and bids for 70,000 shares at between Rwf365 and Rwf370, with no deals sealed.

Cross-listed firm, Uchumi Supermarkets had an offer of 6,500 shares at Rwf104 each, but there were no buyers.

Olivier Muneza, a broker with MBEA Securities, told Business Times that it was not a question of oversupply of shares in the market but low demand as buyers wanted to buy shares at lower prices than yesterday's.

Bank of Kigali counter closed at Rwf293, Bralirwa’s Rwf385 and Uchumi Supermarkets at Rwf104.

On the bond market, there was a bid for 500,000 bonds at Rwf100 for the Rwf15 billion Treasury bond issued in August, and an offer of two million bonds at Rwf104 for the seven-year Rwf15 billion TB that was listed at the bourse in December.

"Most people who wanted bonds bought them at the primary market…that is why there is low demand now,” noted Muneza.