Home Business & Tech Over Rwf500bn Exchanged Hands on Rwanda Bourse

Over Rwf500bn Exchanged Hands on Rwanda Bourse

by Daniel Sabiiti
6:07 pm

RSE CEO Celestin Rwabukumba educates leaders on importance on stock markets

Rwanda Stock Market (RSE) is two months shy from celebrating 10 years since it was established and statistics show that billions of francs have exchanged hands.

RSE figures show that market capitalisation is $3.3billion or 40% of Rwanda’s Gross domestic Product (GDP) and over Rwf500billion exchanged hands through the market either in debt instruments or shares.

This has also seen employment opportunities for industry professionals reach over 100 permanent jobs created and several trainees and interns have passed through as well.

At least 17,000 investors have been solicited in the period since the establishment of RSE and the organisation is looking for more in upcoming 7 years Rwf10billion Treasury Bond during the period of November 20-22nd bond listing.

All investors are required to complete the application form which will have a competitive bid of Rwf500, 000 and non-competitive bid of Rwf100, 000 shares with an interest subject to withdraw tax at 5% and 15% for EAC residents and non-EAC residents respectively, said Boniface Mutabazi Central Bank Director of Financial Markets.

In the meantime, shares on the local bourse, today, remained constant to close at 134.22 and 133.31 respectively.

Only a few equities changed hands on the market while the bonds market was quiet.