The Rwanda Social Security Board (RSSB) has acquired the remaining shares held by Crystal Ventures Limited (CVL) in Inyange Industries Ltd and Ruliba Clays Ltd, giving the pension fund full ownership of both companies.
RSSB announced the transaction on Thursday, August 27, 2026. Before the acquisition, it held a 40% stake in Inyange Industries and 50% in Ruliba Clays. The purchase of CVL’s remaining shares makes RSSB the 100% shareholder in both companies.
RSSB said the acquisition reflects its confidence in the two companies’ growth prospects and is intended to strengthen their contribution to Rwanda’s economy while protecting and increasing the value of members’ assets.
The institution said full ownership will give it greater scope to influence the companies’ strategic direction, strengthen their management and support long-term expansion.
RSSB Director General Régis Rugemanshuro said the move is aimed at building stronger, competitive and profitable companies capable of expanding beyond Rwanda’s domestic market.
Inyange Industries is a major food-processing company producing milk and other food and beverage products, while Ruliba Clays manufactures construction materials.
RSSB said Ruliba Clays is entering a new phase of expansion, including investment in infrastructure for a second production plant, which is expected to increase its production capacity and expand its markets in Rwanda and the region.
The pension fund said it will continue working with strategic partners and exploring investment opportunities to support the growth of the two companies.
RSSB has been an investor in Inyange Industries since 2014 and in Ruliba Clays since 2009, according to information published following the transaction.
The acquisitions form part of RSSB’s investment strategy of placing members’ funds in businesses with potential for sustainable returns and long-term value creation.
RSSB expects the growth of the two companies to support Rwanda’s industrialisation, increase domestic production, reduce reliance on imported products, create employment and strengthen the competitiveness of locally manufactured goods in regional markets.
