South African healthcare company cross-lists on Rwanda Stock Exchange

Xinhua
02 Jun 2020, 11:59 GMT+10

KIGALI, June 1 (Xinhua) -- South African healthcare company RH Bophelo (RHB) on Monday cross-listed on the Rwanda Stock Exchange (RSE) as it ventures into East Africa.

Pierre Celestin Rwabukumba, chief executive of the RSE, said in a statement issued here that the listing signals the diversification for investors in Rwanda and the region.

"This is a double plus and a major milestone to the nascent Kigali International Financial Center in its formation stage. It sends another message out there, that we can achieve capital formation from Africans, by Africans and for Africans," Rwabukumba said.

Quinton Zunga, chief executive of RHB, said the company was excited by its position as the first private equity from outside the region to be listed on the young market.

"We believe this will provide investment opportunities to thousands of Rwandans and other regional investors willing to invest in the stock market since it now makes it convenient to invest in the company right here in Rwanda," Zunga said.

As a healthcare centered investment company, RHB's goal is to make cross-listing part and parcel of its expansion strategy, he said.

The RHB is the ninth company to list on the Rwanda market and the first cross-listing from outside the East African region, according to the RSE.

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