Thapelo Tsheole has been appointed as the Chief Executive Officer of the Rwanda Capital Market Authority (CMA), the regulatory body of capital markets industry, The New Times has learnt. ALSO READ: CMA warns against illegal stock trading He is expected to officially join CMA in a month period, following his resignation from Botswana Stock Exchange (BSE) where he has been CEO since 2016. He was consequently replaced as president of African Securities Exchanges Association (ASEA) by Celestin Rwabukumba, the current CEO of Rwanda Stock Exchange, on April 10. Tsheole takes over from Eric Bundugu who has been acting at the helm of CMA since 2018 since the exit of Robert Mathu in 2017. Bundugu has contributed to the growth of corporate sector with increased capital access, oversaw sizeable company listings on the domestic bourse, and several regulations were enacted under his leadership, all aimed to stabilize the market. Under his leadership, Bundugu has oversaw the creation of more public awareness for the participation of retail investors. Since 2018, CMA has seen the listing of CIMERWA and MTN Rwanda Plc, as well as issuance of new instruments including one corporate bond and a Sustainability-linked bond by Rwanda Development Board. CMA also conducts an annual university challenge aimed at inculcating the culture of saving and investment particularly through capital market among students. The incoming CEO this week held discussions with the National Bank of Rwanda Deputy Governor, Soraya Hakuziyaremye, on the existing collaboration between BNR and CMA, and explored various mutually beneficial projects that seeks to contribute to the capital markets’ role in developing Rwanda’s financial sector. With an experience of over 20 years, Tsheole holds a Bachelor of Social Sciences from the University of Botswana and a Master of Commerce in Financial Markets from Rhodes University (RSA). He holds a Master's Degree in Business Administration (MBA) from the Graduate School of Business, University of Cape Town (RSA).
