The Rwanda Social Security Board (RSSB) has acquired all the remaining shares in Inyange Industries Ltd and Ruliba Clays Ltd previously held by Crystal Ventures Limited (CVL), making the two companies fully owned by RSSB.
The transaction marks a major shift in the ownership structure of two prominent Rwandan companies operating in the food-processing and construction-materials sectors.
Before the acquisition, RSSB held a 40 percent stake in Inyange Industries and 50 percent in Ruliba Clays. The purchase of CVL’s remaining shares now gives the social security institution full ownership of both companies.
Inyange Industries is one of Rwanda’s leading food-processing companies, producing dairy products, beverages and other food products. Crystal Ventures describes it as a major player in the country’s food and beverage industry.
Ruliba Clays, meanwhile, operates in the construction-materials sector and produces clay-based building products, including bricks and tiles. Its products are certified under Rwanda’s standards system.
The acquisition expands RSSB’s direct investment portfolio at a time when the institution is increasingly using its investment arm to participate in major businesses and projects. RSSB’s financial statements have previously listed its 40 percent holding in Inyange Industries among its equity investments.
For Crystal Ventures, the transaction represents a further change in its investment portfolio. The company, established in 1995 and rebranded from Tri-Star Investments in 2009, has built a diversified portfolio spanning fast-moving consumer goods, engineering, construction materials and services.
The acquisition means RSSB will now have greater control over the strategic direction, investment decisions and future expansion of both Inyange Industries and Ruliba Clays.
The move could also strengthen RSSB’s position as a long-term institutional investor, with the returns generated by its investments ultimately supporting the financial sustainability of the social security schemes it manages.
Further details on the value of the transaction and the terms under which the remaining shares were acquired were not immediately available.
