Rwanda Stock Exchange (RSE) Chief Executive Officer has been elected as the Vice President of the African Securities Exchanges Association (ASEA).
Pierre Celestin Rwabukumba, the RSE CEO was elected to the post at the ASEA Executive Committee meeting held in Abidjan, Ivory Coast this December, 2022.
Commenting on his appointment, Rwabukumba thanked his colleagues in the trade for entrusting him with the responsibility and promised to deliver to the best of his abilities.
“I thank my colleagues for the vote of confidence for me and my team I shall serve with utmost energy and dedication picking up from where the outgoing leadership left off and promise to work hard to bring our markets to greater heights again as I believe our markets stand to benefit our continent and bring about true and fair democratization in wealth and capital formation for our countries, and united we will”.
As the Chief Executive Officer of the Rwanda Stock Exchange, Rwabukumba is also the current Chairman of the East African Securities Exchanges Association (EASEA) and has been serving on the ASEA Executive Committee where he has been chairing the Market Development Committee.
RSE Board and management said they wish Rwabukumba all the best in his new role as the Vice President of ASEA.
The Rwanda Stock Exchange Limited was incorporated on 7th October 2005 with the objective of carrying out stock market operations.
Rwabukumba has been at the realm of leading the local exchange and attracting investment on the Rwanda’s bourse and boost the capital market growth.
Capital Markets Growth
While the economy dropped due to Covid-19, trading on the Rwanda stock Exchange (RSE) markets had a relatively good year starting in 2020/21 with the local bourse attracting two new companies (Cimerwa PLC, RH Bophelo) to reach a landmark 12 membership on the bourse, as more are in the pipeline.
The bourse managed to trade Rwf313billion from January 1-December 31, 2020 compared to Rwf199.28billion in the same period in 2019 representing a 57.08% change rate.
The RSE bourse which clinched 22,000 active investors also saw local investors dominate the shares on the market at 83.6% while the regional investors had 13.8% and international ones, 2.6%.
As the RSE continues to push for listing more local companies, investments, the bourse is also looking at going automated to fit within the regional stock market standards and already testing of the electronic platform was done last year 2021.
The African Securities Exchanges Association is the Premier Association of the twenty- five (25) securities exchanges in Africa who have come together with the aim of developing Member Exchanges and providing a platform for networking.
ASEA was established in 1993 and works closely with its members to unlock the potential of the African Capital Markets, with a vision to enable African Securities Exchanges to be key significant drivers of the economic and societal transformation of the year 2025.