The Rwanda Social Security Board (RSSB) has acquired full ownership of Inyange Industries, an agricultural and livestock products processing company, Ruliba Clays, a manufacturer of construction materials, and BK General Insurance, which provides general insurance services.
The decision gives RSSB full control of the three companies, as the institution seeks to ensure that its investments generate sustainable returns for its contributors.
Speaking to IGIHE, RSSB Chief Executive Officer Regis Rugemanshuro said contributions made by members should not simply be kept in reserve but should be invested carefully to generate returns and help the institution meet its long-term obligations.
“A pension fund does not manage members’ money simply by keeping it in storage. It manages those funds by investing them prudently so that they grow and are available when members’ benefits need to be paid,” he said.
RSSB believes that owning companies operating in different sectors, including food and beverage processing, construction materials and insurance, will help diversify its investment portfolio and reduce risk.
The institution said its objective is not simply to acquire more companies but to invest in assets capable of generating sustainable long-term returns.
If the companies are properly managed, profitable and continue to increase in value, their performance could strengthen RSSB’s ability to pay pensions and provide other benefits to its members.
Rugemanshuro said the companies must be managed professionally to ensure that they generate profits and create value for RSSB members.
“If these companies are well managed and professionally operated, they will become profitable, generate returns through dividends and increase the value of RSSB’s investments for the benefit of its members,” he said.
He added that stronger company performance would directly contribute to the growth of RSSB’s overall assets.
“As these companies continue to perform better, generate more profits and increase in value, that growth will contribute to increasing RSSB’s assets. This will strengthen the institution’s capacity to pay pensions and other benefits provided to members,” he said.
Long-Term Benefits for Members
RSSB said members should not expect immediate financial benefits from the acquisitions, stressing that the investments are intended to generate value over the long term.
“The truth is that not everyone will immediately see direct financial benefits. What members should expect is for these companies to become stronger, improve their governance and provide better services,” Rugemanshuro said.
He explained that farmers supplying milk to Inyange Industries could benefit from a more stable and expanded market.
Meanwhile, employees at Ruliba Clays could also benefit from the company’s growth and expansion.
Beyond benefits for RSSB members, the institution said the investments are also aimed at building strong Rwandan companies capable of competing in regional markets.
Plans for Expansion and Regional Growth
In the insurance sector, RSSB plans to merge BK General Insurance with SONARWA General Insurance to create a stronger company capable of handling larger insurance services and expanding into regional markets.
For Inyange Industries and Ruliba Clays, RSSB plans to increase production, promote exports and seek strategic partners capable of bringing new technologies and opening new markets.
In the future, RSSB may also consider listing some of the companies on the Rwanda Stock Exchange or the Nairobi Securities Exchange.
Such a move could create opportunities to raise additional capital and allow other investors to participate in the companies.
RSSB said the main measure of success for these investments will be whether they protect and grow members’ contributions while building companies that become more valuable and competitive.
RSSB Assets Reach Rwf3.9 Trillion
During the 2025/2026 financial year, which ended in June 2026, RSSB’s total assets reached Rwf3.9 trillion.
The institution recorded profits of Rwf438 billion, compared with Rwf401 billion in the 2024/2025 financial year.
RSSB expects its asset base to increase further following the acquisition of full ownership in the three companies, particularly because the businesses are already profitable.
The institution believes that strengthening its investment portfolio will help secure the long-term financial sustainability of Rwanda’s social security system while also contributing to the growth of major Rwandan businesses.
