Rwanda Stock Exchange
Number of listed companies
Domestic market capitalization
1 million US$
SSE Partner Exchange
Has annual sustainability report
Requires ESG reporting as a listing rule
- However, does require a statement of main corporate governance practices for listing companies.
Has written guidance on ESG reporting
Offers ESG related training
Has sustainability-related indices
Has sustainability bond listing segment
Has SME listing platform
- RSE Alternative Market Segment, since 2013
Organizational model of stock exchange
- Demutualized at start in 2005.
- Capital Market Authority (CMA) was established by the Prime Minister’s Order of 28 March 2007 to initially guide the development of a Capital Market in Rwanda. It was previously referred to as the Capital Market Advisory Council (CMAC) till June 9th ,2011 , CMAC operated as the Capital Market Regulator, pending the creation of the CMA as provided in the Law N°11/2011 of 18/05/2011 published on 9th June, 2011.
- CMAC facilitated the creation of the RSE as a Stock Exchange and admitted 10 members of the RSE awaiting licensing powers provided in the newly published CMA law. One of the statutory objectives of the Capital Market Authority, CMA is to promote and develop the capital markets industry in Rwanda. Investor education is one of the ways of attaining this goal.
About the stock exchange
Location: Kigali, Rwanda
- The Rwanda Stock Exchange Limited was incorporated on 7th October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualised from the start as it was registered as a company limited by shares.
|Ownership of Exchange (Shares >4% only)||Share|
|Government of Rwanda||20%|
|Faida Securities Rwanda||10%|
|African Alliance Rwanda||10%|
|CDH Capital Ltd||10%|
|MBEA Brokerage & Financial Services Rwanda||10%|
|Dyer & Blair Rwanada||10%|
|Rwanda Social Security Board (RSSB)||10%|