Jean-Marie Rugambwa ukora muri Banki Nkuru’u Rwanda asanga byagirira akamaro Abanyarwanda n’igihugu cyabo baramutse bitabiriye gushora imari mu kugura impapuro mpeshamwenda.

Mu nyandiko yageneye Taarifa Rwanda, avuga buri Munyarwanda wifuza ko igihugu cye kigera ku iterambere rirambye, gifite imihanda myiza, amashanyarazi ahagije, amazi meza kuri bose, serivisi z’ubuzima zinoze n’ibindi akwiye kwitabira gushora imari muri izo mpapuro.

Kugira ngo igihugu kigere kuri izo ntego, nk’uko abivuga, bisaba ishoramari rirambye rikozwe na Leta kandi kimwwe mu biyifasha kurikora ni impapuro mpeshamwenda bita Mu Cyongereza Treasury Bonds cyangwa T-bonds mu mpine.

Leta izishyira ku isoko igamije ko abaziguze baguria Leta amafaranga ayunganira mu ngengo y’imari.

Mu Rwanda, impapuro mpeshamwenda za Leta zishyirwa ku isoko binyuze muri Banki Nkuru y’u Rwanda (BNR).

Rugambwa asobanura ko kugira ngo bishoboke, abashoramari bifuza gushora mu mpapuro mpeshamwenda za Leta bagura izo mpapuro binyuze muri Banki bakorana nazo cyangwa abahuza bo ku isoko ry’imari n’imigabane bita Rwanda Stock Exchange (RSE).

Bityo rero baba bagurije Leta nayo izabishyura inyungu kugeza igihe izo mpapuro zizavira ku isoko.

Usibye inyungu kandi, iyo igihe cyagenewe izo mpapuro kirangiye, abashoramari baziguze bahabwa amafaranga yabo yose.

Amafaranga y’u Rwanda (FRW) ni yo akoreshwa mu kugura impapuro mpeshamwenda za Leta kandi zishobora gushyirwa ku isoko bwa mbere (new issuance) cyangwa zigasubizwa ku isoko(reopening) bitewe na gahunda ziba zarateganyijwe.

Kugeza ubu, impapuro mpeshamwenda za Leta zishyirwa ku isoko buri kwezi kandi zimara igihe gitandukanye bitewe n’igihugu kuko, urugero nko mu Rwanda, hari izimara imyaka itatu, itanu, irindwi, 10, 15 n’imyaka 20.

Nk’urugero, muri Kamena, 2025, BNR irashyira ku isoko Miliyari Frw 10 z’imyaka itanu.

Muri Gicurasi uyu mwaka,  BNR yasubije ku isoko impapuro mpeshamwenda za Miliyari Frw 15 zizamara imyaka makumyabiri (20).

Muri rusange, kuva muri Werurwe kugeza kugeza muri Kamena, BNR imaze gushyira ku isoko impapuro mpeshamwenda za Leta zifite agaciro ka Miliyari Frw 60.

Ni amafaranga aba yarateganyijwe mu ngengo y’imari y’igihugu muri gahunda y’inguzanyo zituruka imbere mu gihugu.

Uko uzungukira muri iyi gahunda…

Iyo ushoye imari mu mpapuro mpeshamwenda za Leta buba ari uburyo bwiza bwo kwiyubakira igihugu, ukagifasha mu kuziba icyuho ku ngengo y’imari yacyo.

Binyuze muri iyo migirire, uba ugize uruhare rutaziguye mu iterambere ryacyo, butubakiye ku nguzanyo zivuye mu mahanga.

Uretse kugira uruhare mu iterambere ry’igihugu cyawe, gushora imari mu mpapuro mpeshamwenda za Leta bitanga inyungu kuwabikoze kuko hari amafaranga yinjira mu mufuka.

Gushora imari mu mpapuro mpeshamwenda ni ukwizigamira, ukiteganyiriza ejo hazaza kugira ngo uzashobore kwishyirira abana amashuri, kugera mu zabukuru utandavura kuko uba washoye mu mishinga minini yunguka menshi.

Jean-Marie Rugambwa yanditse ati: ʺIyo ushoye imari mu mpapuro mpeshamwenda uba ukoze ishoramari ryizewe kuko uba wizeye guhabwa inyungu ku gihe, ukazasubizwa amafaranga washoye iyo igihe cyagenewe izo mpapuro mpeshamwenda kirangiye”.

Ikindi ni uko gushora imari mu mpapuro mpeshamwenda bitanga uburyo bwo kuzigurisha unyuze ku isoko ry’Imari n’Imigabane ry’ u Rwanda(RSE) igihe ushatse amafaranga mbere y’igihe zateganyirijwe kuvira ku isoko.

Ibi bivuze ko uba ufite amafaranga yawe azakungukira kandi ushobora no kuyabona igihe uyashakiye.

Iyo uhisemo kuyahashora wegera abahuza bo ku isoko ry’imari n’imigabane (brokers) ukababwira umubare w’izo ashaka kugurisha, bakagufasha gushaka umukiliya wifuza kuzigura.

Wumvikana nawe ku giciro cy’impapuro zawe (market price), ugahabwa ikiguzi cyazo noneho izo mpapuro nazo zikandikwa ku waziguze mu buryo bw’ikoranabuhanga.

Igihe ugurisha impapuro mpeshamwenda atabonye umuguzi ku isoko ry’imari n’imigabane (RSE) mu gihe kigera ku minsi 15, BNR igura izo mpapuro nyuma yo kubisabwa mu nyandiko n’ikigo gishinzwe isoko ry’ imari n’imigabane yemeza ko izo mpapuro mpeshamwenda zabuze umuguzi.

Gushora imari mu mpapuro mpeshamwenda za Leta ni ishoramari ribyara inyungu kandi itangirwa ku gihe kuko buri mezi atandatu uhabwa inyungu yawe.

Iyo nyungu ibarwa ku mwaka ariko igatangwa buri mezi atandatu. Inyungu ku mpapuro mpeshamwenda iterwa ahanini n’igihe izo mpapuro mpeshamwenda zimara n’uko isoko rihagaze.

Iyo nyungu kandi isora 5% gusa.

Uwashoye muri izi mpapuro mpeshamwenda ashobora no kuzitanga nk’ingwate akabona inguzanyo mu bigo by’imari akorana na byo mu buryo bwihuse.

Bisaba iki ngo ushore imari mu mpapuro mpeshamwenda?

Ntibisaba ibintu byinshi ngo ushore imari mu mpapuro mpeshamwenda.

Icya mbere, umushoramari wifuza gushora imari mu mpapuro mpeshamwenda agomba kuba afite konti y’ishoramari yitwa Central Securities Depository Account (CSD), ifungurwa anyuze ku bahuza b’isoko ry’imari n’imigabane (brokers) cyangwa muri banki akorana nayo.

Iyi konti ni yo ibikwaho impapuro mpeshamwenda mu buryo bw’ikoranabuhanga.

Umushoramari wifuza gushora imari mu mpapuro mpeshamwenda agomba kuba afite nibura amafaranga y’u Rwanda ibihumbi ijana (Frw 100.000) kuri konti nk’igiciro fatizo cy’urupapuro mpeshamwenda rumwe.

Umushoramari ashobora kugura imigabane ashatse bitewe n’ubushobozi bwe.

Uko umenya ko izi impapuro mpeshamwenda ziri ku isoko

Mbere na mbere, abashoramari babyifuza bagomba kureba inyandiko yitwa “Treasury Bond Issuance Calendar” ishyirwa ku rubuga rwa murandasi rwa Banki Nkuru y’u Rwanda  ku ntangiriro z’umwaka w’ingengo y’imari.

Iyo nyandiko igaragaza amatariki BNR iteganyaho gushyira impapuro mpeshamwenda ku isoko.

Mbere yo kubikora, BNR ikora imenyekanisha ryazo binyuze mu  nyandiko yitwa “T-Bond Prospectus” ikubiyemo amakuru yose arebana nazo.

Umushoramari wese ubyifuza, yuzuza ifishi yabugenewe akayicisha kuri Banki ye cyangwa abahuza bemewe bo ku isoko ry’imari n’imiganane, na bo bakayigeza kuri BNR.

Iyo isoko birangiye, BNR itangaza uko ryagenze muri rusange (global results) biciye ku rubuga rwayo rwa interineti (www.bnr.rw)

Ikindi kandi, buri wese watsindiye kugura izo mpapuro, amenyeshwa kuri aderesi yatanze  agaciro k’impapuro mpeshamwenda za Leta yatsindiye, urwunguko rwazo (ku ijanisha), amataliki azajya aboneraho inyungu n’igihe azasubirizwa amafaranga ye yashoye n’ibindi.

Nk’uko Jean-Marie Rugambwa abivuga, gushora mu mpapuro mpeshamwenda za Leta ni ukwiyubakira igihugu no kuzabona urwunguko rushimishije ukanateganyiza ejo heza hawe n’abawe.

Ubwanditsi: Ibitekerezo biri muri iyi nyandiko ni ibya Rugambwa Jean-Marie bwite. Ni  umuyobozi ushinzwe iterambere ry’isoko ry’imari muri Banki Nkuru y’u Rwanda.