The Rwanda Over-The-Counter (OTC) market was in a record business, with Frw80 millions worth of Treasury bonds traded at the price of Frw100.000.

This is the highest transaction since the Rwanda capital market was launched.

"It is a sign that investors are gaining confidence in the market as time goes," said Pierre Celestin Rwabukumba the Capital Markets Advisory Council (CMAC) operations manager. The confidence gained by both investors and savers is partly attributed to more products on the market. Government last week issued a third treasury bond with higher interest rate of 8.25 per cent and maturity period of 3 years. This means the bond is more profitable to the investors compared to the other two Treasury bonds on the market. It also means that investors would take an extra year to receive the principal amount paid for the bond.

The number of products on the Rwanda OTC market has now reached four including one corporate bond. Government is willing to even list more long term securities on the OTC market.

James Musoni, minister of finance and economic planning recently said that government will continue to support longer term maturity bonds to finance productive investment.

However the 10-year Rwanda Commercial Bank (BCR) bond continued not to register any transaction at the close of business.

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