By Bosco Hitimana of The EABW"KIGALI, RWANDA–African Development Corporation (ADC), a Germany group has acquired a 25% stake equivalent to 1,750,005 shares worth Rwf4.4billion ($8million) 25% in Rwanda Development Bank (BRD).
Each share was sold at Rwf2, 528($4.59). The deal announced recently in Kigali marked an increase of the bank’s share capital from Rwf5.1billion ($9.2million) toRwf7 billion (about$12.7million), paving way to the strengthening of its financial muscle so as to accomplish its goals by investing in long term ventures.
Rwanda Development Bank (BRD) finances projects in agriculture, ICT, tourism, education, export, water, health and energy."
Complete story at "German investors buy 25% stake in Rwanda Development Bank"
Category: Rwanda + Banking + Investment + Economy
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