Rwanda seeks more funding through second Eurobond launch


(Posted 07th August 2014)

Following the success of Rwanda’ first Eurobond placement earlier in the year, which was oversubscribed by as many as eight times, will a second Eurobond be launched soon to bring the overall amount raised to at least one billion US Dollars.

Rwanda government sources confirmed that part of the money will be used to kickstart the construction of the new Bugesera International Airport, due to begin when all the remaining land acquisition compensations have been paid to landowners. Part of the proceeds of the first bond were directed towards the ongoing construction of a new national convention centre and an adjoining hotel, which will be managed by Radisson Blue when complete. Funds were also dedicated to back up the acquisition of new aircraft by national airline RwandAir, both areas thought to be instrumental in bringing more visitors to the country from across the African continent.

Tourism has over the past few years maintained its position as the number one foreign exchange earner, last year alone brining nearly 300 million US Dollars into the country’s economy and both airline and convention centre are at the heart of further planned increases in visitor numbers, with RDB Tourism & Conservation targeting in particular the lucrative MICE segment in the market. No date for the launch of Rwanda’s second Eurobond was available at this stage.

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