Local and regional firms have been urged to use the capital market as an avenue to raise affordable long-term development capital.
Eric Bundugu, the Capital Market Authority (CMA) Deputy executive director, said the market also offers the common man an opportunity to become part owners of big companies through initial public offerings.
Bundugu was addressing a delegation of South Sudanese officials who were on a study tour of the Rwanda Stock Exchange recently. The delegation was led by Aggrey Tisa Sabuni, the presidential advisor on economic affairs and co-chairperson of the High Level Committee for East African Community (EAC), according to a statement from CMA.
Speaking during the event, Sabuni said no single country has ever developed without a strong savings culture.
He underscored the need for saving and investing through the capital market, arguing that it is critical for economic stability. Sabuni said the study tour at the RSE will support South Sudan’s development efforts as a new country.