Kigali, 9 August 2021:  Minister of Infrastructure, Hon. Claver Gatete officiated the launch of Energy Conception and Transmission of Electricity (ENERGICOTEL) Corporate bond and its official listing on the Rwanda Stock Exchange.

The bell-ringing ceremony was also attended by several government officials, particularly from the finance sector, as well as investors.

ENERGICOTEL is an Independent Power Producer (lPP) and an Engineering Consulting Company with Power Purchase Agreements and Concessions Rights to Design, Finance, and Build Power Generating Plants in the Republic of Rwanda, soon in Zimbabwe, Kenya, DRC and Malawi.

Speaking at the ceremony, Minister Gatete applauded the company for being the first firm in the energy and infrastructure sector generally to list a corporate bond.

“This adds more resources to energy sector development that will help to achieve the Government’s target of 100% electricity access countrywide by 2024.”

He also pointed out that it was a good signal that the market is slowly getting ready for the private sector to tap into the opportunities the market has to offer with a target to have a private sector-led economy.

Gatete highlighted that the government is currently working with the energy firm on various projects, including construction of power transmission lines, distribution lines and energy access, in most parts of the countries, connecting homes, schools, health centres and other economic activities.

ENERGICOTEL is the latest company to list on the stock exchange.  It is a subsidiary of EPC Africa Group, which is a private structure of several companies with a head office based in Kigali, that specializes in Power Generation, transmission and Distribution, among other services.