RSSB Acquires Full Ownership of Inyange Industries and Ruliba Clays

Before the transaction, RSSB already held 40% of the shares in Inyange Industries and 50% in Ruliba Clays. The acquisition of the remaining shares has now given RSSB full ownership of the two companies.

RSSB said the move is aimed at strengthening the companies’ capacity to grow and improve their operations, enabling them to make a greater contribution to Rwanda’s economy and the development of the private sector.

Inyange Industries has established a strong reputation in the Rwandan market and continues to demonstrate solid business performance and growth.

Meanwhile, Ruliba Clays is known for manufacturing construction materials and supplying products used in the building industry. RSSB said the company has significant potential to increase production and play a greater role in the development of the construction sector in Rwanda and the wider region.

According to RSSB, full ownership of the two companies will help improve corporate governance, operational efficiency, employee capacity and overall productivity.

The institution also plans to continue identifying strategic partners and suitable investment opportunities for the companies in order to increase production and further strengthen Inyange Industries and Ruliba Clays.

RSSB said it has been an investment partner of Crystal Ventures Limited in Inyange Industries since 2014, while its partnership in Ruliba Clays dates back to 2009.

RSSB Director General Regis Rugemanshuro said the acquisition would strengthen the institution’s ability to support the companies’ sustainable growth.

“The objective is for these companies to continue building strong businesses and generating returns that can create value for our members. As these companies continue to grow and develop, we will continue to leverage our capacity to identify opportunities that improve the returns on our investments and create greater value,” he said.

RSSB added that its investment in Inyange Industries and Ruliba Clays has the potential to contribute to Rwanda’s industrial development, increase domestic production and reduce reliance on imported goods.

The institution said it will continue using its investments to support national economic development while protecting and increasing the value of members’ contributions and strengthening Rwanda’s economic capacity.