Finance

Rawbank Carries out the First Issue of Negotiable Commercial Paper Debt Securities on the Congolese Money Market

Thursday, 24 November 2022 15:23
Rawbank Carries out the First Issue of Negotiable Commercial Paper Debt Securities on the Congolese Money Market

( RAWBANK ) - Rawbank announces the completion of a unique money market operation within its trading room: the issuance of negotiable debt securities for one of its clients. The bank, acting as arranger, once again demonstrates its ability to offer alternative sources of financing to companies operating in the DRC.

As the first bank in the Democratic Republic of Congo to launch its own trading room in accordance with international standards in May 2021, and today the first bank to obtain approval from the central bank to issue negotiable debt securities, Rawbank continues to demonstrate its pioneering spirit in the development of the financial market in the DRC. This operation has allowed its client to obtain short-term financing on the market while giving investors access to new and particularly advantageous investment vehicles.

The Central Bank of Congo (BCC), through instruction 50, carried on December 17, 2020, sets the conditions for issuing negotiable debt securities in the DRC. After a thorough examination of the file, the regulator has admitted the bank's client company in Katanga as an issuer of negotiable debt securities. The amount of the issue program is 10 000 000 USD.

Within the framework of this first issue, Rawbank acted as an intermediary between the issuer and the investors, under the supervision of the BCC, to ensure the protection of the investors. The investors concerned are companies and private clients of Rawbank.

"It is essential that companies operating in the DRC be able to find local solutions for their financing strategy. Negotiable debt securities are a way for companies to meet their financing needs: it is essential for local business development. For our clients, it is a new and attractive investment opportunity" said Mustafa Rawji, Rawbank's Managing Director.

Meeting international standards, Rawbank's trading room contributes to making Kinshasa a financial center of choice by providing value-creating financial tools to national economic actors.

About RAWBANK

With more than 1,850 employees, 100 points of sale, a representative office in Brussels, 240 ATMs, more than 500,000 customers and a market share of more than 28%, RAWBANK supports the development of the Congolese economy. Serving individuals, SMEs, companies and institutions, Rawbank is rated by Moody's, ISO/IEC 20000 and ISO/IEC 27001 certified and has established financing partnerships with several international donors (IFC, BADEA, Shelter Africa, TDB, Afreximbank and AGF). Safety, profitability and sustainability are Rawbank's operational priorities to consolidate its growth strategy, especially in the direction of individuals and the private sector. Our vast network of branches is one of the most developed in the Congolese banking sector, established in the 19 provinces of the country, including Greater Katanga, Greater Kasai, the two Kivus, Equateur and Central Kongo. The objective of RAWBANK is to give access to its Corporate, SME and Individual customers to the most modern techniques, services and products of the banking and financial sectors, hence the relevance of its slogan: "RAWBANK is my bank". 

To know more about it: Rawbank - www.rawbank.com

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