Rwanda securities industry looks ahead

ROUNDTABLE: Experts from 14 countries turned up to advise Rwanda on how to position capital markets as focal points for mobilising long-term funding to support the economic development of the country. (COURTESY PHOTO)

KIGALI, RWANDA - The Capital Market Authority of Rwanda last week hosted a strategic planning roundtable to begin developing a 10-year capital market development master plan (CMMP).

“Rwanda invited capital market experts from around the world to share lessons on how to develop the Rwanda’s capital market. The idea is to create an ecosystem to accelerate and sustain economic growth that leads to more savings and investments via the capital markets,” Staci Warden, the Chairperson of the Rwandan Capital Market Authority told a news conference at the close of the discussions.

Rwanda’s Minister of Finance and Economic Planning, Amb. Claver Gatete who also attended the event said: “The 10-year Capital Market Master Plan will cement efforts by the CMA to position Rwanda’s capital markets as the preferred financial economic centre for domestic, regional, and international fund flows.

“The 10-year Capital Market Master Plan is expected to position the capital markets to play a pivotal role in mobilising long-term funding to support the development of Rwanda,” he said.

According to a release, capital market experts from 14 countries across the globe who were in the roundtable they included: USA, Israel, India, Malaysia, Spain, UK, Netherlands, Uruguay, Mauritius, South Africa, Kenya, Uganda, Zambia and Tanzania.

Warden, who is also the Executive Director of the Center for Financial Markets at the Milken Institute, said: “Investment to be channeled to companies will help them grow bigger, hire more people, more people have more savings and they have more money to invest.”

Market Master Plan is expected to position the capital markets to play a pivotal role in mobilising long-term funding to support the development of Rwanda.”

Consultants will now start the process of drafting the master plan with various input from experts at the meeting.

Sunil Benimadhu, the Chief Executive of the Stock Exchange of Mauritius (SEM) congratulated Rwanda for starting the development of the 10-year capital market master plan now.

He said Mauritius looks forward to a partnership with Rwanda’s capital market in the future.

The Capital Market Authority (CMA) was established by the Government of Rwanda to nurture wealth by facilitating the development of an orderly, fair, transparent and efficient capital market in the country.

By John Sambo, Sunday, October 25th, 2015


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