Success of I&M Bank IPO vote of confidence in local economy

Gatete and the I&M Bank board chair Bill Irwin at the unveiling the IPO prospectus in February. The IPO was oversubscribed by 209%. / File

The I&M Bank Rwanda initial public offering (IPO) has been oversubscribed by 209 per cent, a development Amb Claver Gatete, the Minister of Finance, attributes to growing investor confidence in the local economy.

“The huge success of I&M Bank Rwanda IPO is testimony of the confidence investors have in the Rwandan economy generally and the bank in particular,” he said. “This great performance of the IPO also gives credibility to government’s privatisation programme,” he added. READ MORE 

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