Capital markets is the way forward, residents told

NORTHERN PROVINCE GICUMBI — The district Executive Secretary Maximilien Niyonzima, has urged residents to invest in Capital Markets in order to uplift their economic status.

NORTHERN PROVINCE

GICUMBI — The district Executive Secretary Maximilien Niyonzima, has urged residents to invest in Capital Markets in order to uplift their economic status.

"You should take this as an opportunity to learn new business ventures in order to compete with the rest of people within the East African Community member states," said Niyonzima. He was speaking during a one-day seminar organized by the Capital Market Advisory Council (CMAC) in Gicumbi district recently.

The seminar was attended by district Sector representatives, heads of financial institutions, representatives of cooperatives and local entrepreneurs among others.

Addressing participants the Executive Secretary for CMAC Robert Mathu said the newly-born financial development sector would offer credit facilities to people and targets savings from companies, cooperative societies and private individuals.

"It is a market which offers credit for long term projects," said Mathu. He encouraged coffee, tea and livestock farmers to buy shares and bonds in order to get long term profits.

During the workshop, participants were briefed on the structure and functions of CMAC. According to the facilitators, CMAC provides protection to the business community. They were also briefed on how shares and bonds are acquired through Primary or Secondary Markets and the role of stock brokers in helping people to transact business.

One of the participants and the Manager of BCR branch in Byumba Prosper Ruboneza asked why people should pass through stock brokers while intending to conduct business under Capital Markets arrangements. "Stock brokers are professionals that help clients to transact their businesses efficiently," Mathu explained.

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