When Rwanda ventured into the international bond market for the first time in 2013, it must have been taken aback with its issue was gobbled up by hungry bidders.
It just wanted $400 Million to fund a few infrastructure projects but it was overwhelmed with $3 Billion. It politely declined the offer; maybe it was still dazed by the show of confidence by the international business community.
Now it has decided to capitalize on the vote of confidence and announced that it was considering putting another bond on the market; this time it seeks to take it a notch higher and raise $ One Billion and it will not come as a surprise if it is offered ten times the amount.
This is due to a proven track record of sensible economic management and setting its priorities right. But can this bond windfall be capitalized on to help push this country higher? a definite yes.
The bond market should do for Rwanda what the Marshall Plan did to post World War 2 Germany, let the country’s economic gurus milk it while it its available to strengthen other sectors of the economy.
The achievements of this country on the past twenty years were not by chance, but it was by a leadership that does not go by any political script. The country’s only known recipe is drafting its policies according to the challenges its meets; that is what is known as “thinking outside the box and the same should be done to take advantage of the bond market.