Capital Market Authority steps up public awareness effort

The acting Executive Director of CMA Rwanda, Eric Bundugu speaks at a past event. (File)

The Government, through the Capital Market Authority (CMA), last week joined the rest of the world to celebrate the 2018 World Investor Week, as the country strives to scale up its young but ever growing capital markets industry. 

Organised by the International Organisation of Securities Commissions (IOSCO), the annual World Investor Week (WIW) involves a week of activities carried out by IOSCO member jurisdictions worldwide. Rwanda is an associate member of IOSCO since 2014.


The acting Executive Director of CMA Rwanda, Eric Bundugu, noted that ,“The key objective of the World Investor Week is to highlight the importance of investor education and protection, and to foster learning opportunities for investors, given today’s rapidly changing environment of online and technological innovations.”


Throughout the Week, CMA conducted various public education sessions countrywide targeting retail or individual investors across the country to create awareness among investors. Information on the importance and benefits of saving and investing through the capital market is disseminated, with an emphasis on embracing the savings culture. This would result in greater retail participation in the local capital market, according to John Uwiduhaye, a final year student at the Adventist University of Central Africa, said that, “Investor education is vital to ensure financial inclusion and equip young people with necessary skills as entrepreneurs of tomorrow as saving and investing through the capital market supports initiatives geared at entrepreneurship and job-creation.”


Rwanda has made impressive strides over the last decade in developing its capital market, as one of the new sectors in the country with many untapped opportunities.

A sound legal and regulatory framework was put in place to offer an elaborate and flexible platform to allow capital markets products to evolve.  The CMA has so far licensed 22 market intermediaries notably eight Stockbrokers, a Sponsoring broker (1), three Asset/Fund Managers, three credit rating agencies, two Custodians, four Investment advisors and a Registrar.

The country’s securities market includes both equities and bonds markets which are both at a nascent stage. Since inception in 2008 to June 2018, the Capital Market have so far mobilised USD 469 million (Rwf 411.5 billion) worth of capital; through equities of USD 105 million (Rwf 92 billion) and bonds of USD 364 million (Rwf 319.5 billion).


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