Rwanda Stock Exchange has launched a business guidebook that will specifically enable small and medium enterprises to sustainably address challenges and opportunities in the business sector in Rwanda.
The SMEs Guidebook, authored by -Alexey K. Voynets was virtually unveiled this Tuesday February 23, 2021 by officials from Rwanda Private Sector and capital markets partners.
Officials said the SME Governance Guidebook is a significant milestone in the capital market development and will support efforts in strengthening small & medium enterprises governance structures and practices.
“The guidebook will not only elaborate how business is done but how it can be implemented in a sustainable manner,” said Stephen Ruzibiza, the CEO of Rwanda Private Sector Federation (PSF), who was also the keynote speaker at the event.
Voynets, the author of SME Guidebook said the book is special because it will help to navigate the risks of each stage of business.
“This guidebook specifically addresses challenges and opportunities faced by SMEs and offers tailored corporate governance recommendations to help SME owners and investors take a pragmatic approach to governance, as a means of strengthening their businesses in long term,” said Celestin Rwabukumba, the CEO of RSE.
In partnership with International Finance Corporation (IFC), which supports Rwanda’s efforts to develop and strengthen securities exchange platform, Rwanda capital markets is expected to disseminate content in the booklet through training business owners on how to implement some of the guideline therein.
Linda Kanimba Mulenga, a consultant at IFC Africa urged institutional leaders to take this opportunity to train their employers through IFC program that trains associations and associates to instill these values.
Though RSE is still young as an institution, it has in a short time made significant progress. As of now, the total market capitalization stands USD 3.5 billion and if we add the debt instruments the total market cap is USD 4.3 billion or around 43% of Gross Domestic Product (GDP).