Rawbank Conducts a USD 10 Million Commercial Paper to Support the Mining Industry and Strengthen the Congolese Economy
14.1.2025 11:52:00 CET | Business Wire | Press release
Rawbank, the leading bank in the Democratic Republic of Congo, announces the launch of its second issue of commercial paper for a local mining operator in the Katanga region for the sum of USD 10 million. This transaction, arranged by Rawbank's trading room, confirms the bank's role as a key player in financial innovation in the DRC, while satisfying the strategic financing needs of companies operating in major sectors of the national economy.
Following the success of its first issuance in 2022, which marked a significant step forward for the financial market in the Democratic Republic of Congo, Rawbank has affirmed its pioneering role by introducing solutions that are ever-increasingly adapted to local conditions. A major innovation in this issuance is the inclusion of a corporate guarantee - a first in the DRC - which strengthens investor security and extends the financing options available on the money market. This transaction was approved by the Central Bank of the Congo (CBC) under Instruction 50, which regulates commercial paper.
Mustafa Rawji, Chief Executive Officer of Rawbank, declared: “This transaction strengthens our leadership position in the banking sector in the DRC and underscores our commitment to support the country's economic development. By facilitating access to financing for key businesses, we are contributing to the growth and diversification of the national economy.”
Etienne Mabunda, Commercial Director of Rawbank, stated: "This second issue of commercial paper bears witness to our ability to innovate and meet the specific needs of our institutional clients. Thanks to our trading room, which complies with international standards, we were able to structure this transaction in the best possible way, thus offering our investors better yields in a competitive market environment."
The mining industry, which accounts for more than 70% of the DRC's exports, remains a vital pillar of the Congolese economy. By giving a national operator access to competitive financing, this new issuance contributes directly to boosting economic activity in the region and strengthening investor confidence while, at the same time, stimulating local savings through attractive financial products.
About Rawbank
For 23 years, with total assets of USD 5 billion, Rawbank has supported the development of the Congolese economy. The leading bank in the DRC for 12 years, Rawbank provides the most modern products and services to over 500,000 corporate, SME, and individual clients through a network of more than 100 branches across 19 provinces, a digital offering with Illicocash, internet banking, and over 250 ATMs.
Its efforts have been recognized with the African Banker Awards for Best Regional Bank in Central Africa in 2022 and 2024, a Moody’s CAA 1 rating, and ISO/IEC 20000 and ISO/IEC 27001 certifications. Rawbank’s trusted partners include IFC, BAD, TDB, BADEA, Shelter Africa, AGF, among others.
Partners who have placed their trust in RAWBANK include: AfDB, AGF, IFC, BADEA, Shelter Africa, TDB and Afrexim. For more information, visit our website:www.rawbank.com
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250109301667/en/
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