Africa Medical Supplier PLC (AMS) on Monday, July 21 announced plans to issue a corporate bond worth Rwf5 billion, following approval from the Rwanda Capital Market Authority (CMA). This positions AMS, a leading supplier and distributor of medical products in Rwanda as the first healthcare company in Rwanda to issue a public corporate bond. According to the company, the public offer will open on July 24 and close on August 7, before the bond is listed and begins trading on the Rwanda Stock Exchange on August 22. ALSO READ: Rwanda’s stock market turnover crosses Rwf100bn mark in 2024v The bond will have a tenor of five years and will be issued in a single tranche. It carries a fixed annual interest rate of 13.25 per cent, with a minimum subscription amount of Rwf1 million. The bond features an amortizing structure with semi-annual interest payments, while principal repayments will begin 18 months after settlement, resulting in a weighted average life of approximately 3.25 years. Yves Sangano, Chairman of Africa Medical Supplier, said that securing approval for the first-ever corporate bond issued by a healthcare company in Rwanda confirms that the sector remains a key part of the country’s transformation journey. He noted that this issuance will enable the firm to accelerate its mission of providing reliable and affordable health products and equipment to health institutions throughout Rwanda and the surrounding region. “We’re excited to expand our existing capacity and explore new opportunities to bring healthcare services closer to more communities across Rwanda,” he said. According to the firm, the proceeds from the bond will be allocated to refinancing USD-denominated debt amounting to Rwf3.1 billion and providing working capital for growth totaling Rwf1.9 billion. This funding will support the company’s expansion by increasing its capacity to secure and fulfill new contracts and tenders in both existing and emerging markets. ALSO READ: RSE's Rwabukumba highlights plans to attract more listings The Chief Executive Officer and Founder of Africa Medical Supplier, Fabrice Shema Ngoga, emphasized that the proceeds will enable the company to strategically invest in expanding its capacity to deliver more medical services, ensuring long-term financial sustainability. “Furthermore, this kind of financing allows us to directly connect with investors who share our vision for a future where every Rwandan has access to affordable healthcare. This is a win-win for both AMS and for impact investors,” he added. AMS operates across Rwanda, DR Congo and Central Africa supplying medical products and equipment to over 400 clients including hospitals, clinics, pharmacies, NGOs, UN agencies, and government health programs. The company provides comprehensive solutions including delivery, installation, sales, and after-sales support, focused on addressing a range of medical needs, particularly for noncommunicable diseases. Its products include medical equipment, hospital furniture, diagnostic tests, pharmaceuticals, orthopedic devices, laboratory tools, emergency vehicles, and temperature monitoring systems.
