BSE CEO Thapelo Tsheole leaves to head Rwanda's Capital Market Authority

Thapelo Tsheole, who recently resigned as the CEO of the Botswana Stock Exchange (BSE), has been appointed as the new CEO of Rwanda's Capital Market Authority. In an exclusive interview with CNBC Africa's Godfrey Mutizwa, Tsheole reflected on his impressive 8-year tenure at the BSE and highlighted the importance of seamless cross-border payment systems in Africa. During his time at the BSE, Tsheole achieved significant milestones, including securing funding of US$600,000 to expand the Africa Exchange Linkages project, redeveloping communication strategies, welcoming new ASEA members, and forming strategic partnerships with the African Union and UNECA. These initiatives aimed to drive growth and development in African capital markets. Tsheole's focus on enhancing intra-Africa trade and fostering interconnectivity among stock exchanges has been a central theme of his leadership. The Africa Exchange Linkages project, which started with seven exchanges and aims to expand to 15, seeks to facilitate easier trading across borders and drive critical mass in the African market. Challenges in the project include dealing with settlement and clearing issues, exchange controls, and currency volatility. Tsheole has spearheaded strategic partnerships to address these challenges and pave the way for seamless cross-border trading. As Tsheole transitions to his new role in Rwanda, he leaves behind a legacy of transformation at the BSE. Under his leadership, the exchange achieved demutualization, financial sustainability, increased investor participation, and the introduction of innovative financial products like green bonds and exchange-traded funds (ETFs). Tsheole's tenure saw the BSE grow its cash reserves, profitability, and market credibility, leading to international recognitions and memberships in prestigious organizations like the World Federation of Exchanges. His track record of successful leadership and strategic vision made him an attractive candidate for the Capital Markets Authority in Rwanda. In his new role, Tsheole's mandate is to drive growth and development in Rwanda's capital markets, contributing his expertise and experience to further elevate the country's financial ecosystem. Tsheole's appointment underscores the importance of experienced leadership in advancing Africa's financial markets and reflects a positive outlook for Rwanda's capital market development.