Rwandan bourse CEO on deepening regional capital markets

Rwanda's financial stability report by the central bank projects a more resilient economy, but with global interest rate cuts, a policy move could impact investor sentiment and potentially lead to different trading patterns on the Rwanda Stock Exchange (RSE). On deepening local and regional capital markets, CNBC Africa is joined by Pierre Celestin Rwabukumba, CEO, Rwanda Stock Exchange and also Vice President at African Securities Exchanges Association, ASEA. During the interview, Rwabukumba highlighted the positive performance of the economy in the previous year and shared an optimistic outlook for 2024. He mentioned that the inflation rate is decreasing, credit to the private sector is increasing, and the financial sector is strengthening and deepening, which has instilled hope for the coming year. Rwabukumba also discussed the performance of companies listed on the bourse, stating that more than 90% of them have performed well in 2023, leading to a 3% jump in overall performance at the exchange. Additionally, he mentioned the upcoming listings at the RSE, including the first-ever green bond, indicating a growing interest in sustainable finance products. As the Chair of the East African Securities Exchange Association (EASEA), Rwabukumba outlined key milestones in strengthening the legal framework and product development within the region to accelerate growth. He emphasized initiatives such as market-making for government securities and automation of capital market infrastructure to facilitate cross-border trading. Despite the leadership change within ASEA, Rwabukumba assured continuity and ongoing projects to drive the association forward.