Rwanda’s 2024 market performance review

Rwanda's market outlook in 2024 has been a story of resilience and growth, driven by a focus on sustainable development and regional leadership. Kevin Karobia, Senior Investment Analyst at BK Capital, joined CNBC Africa to provide a snapshot of the market's performance throughout the year. The year was marked by significant wins and achievements across various sectors, showcasing the country's strong and diversified market. From the issuance of sustainability bonds to increased liquidity in both fixed income and equity markets, Rwanda has proven to be a pioneer in the region. The equity market saw a remarkable year-on-year performance, with the Rwanda share index up by 15%, outperforming government papers. Some of the top-performing stocks included Bralirwa, INM, and Bank of Kigali, reflecting improved macroeconomic conditions and investor confidence. On a global scale, Rwanda benefited from increased FDI investments, lower inflation, and a focus on modernizing agriculture, driving interest in the country's markets. Despite challenges like currency depreciation, the outlook for 2025 remains positive, with expectations of lower Fed rates to support the currency and trade balance. Overall, Rwanda's market performance in 2024 exemplifies its commitment to sustainable growth and economic prosperity.