Rwandan Community in Diaspora are encouraged to invest in capital market of Rwanda as it enables them to go for long-term saving and at the same getting sustainable interests for themselves and for the nation in general.
The capital market is a strategy that is used to restore the country’s financial stability or a commercial institution through selling its shares or bonds.
In other countries, the capital market started since a couple of years ago by people with small and higher financial capacities while it was incepted in Rwanda since 2008, and grew tremendously until 2011. By this time, it was called Rwanda Stock Exchange (RSE) and was governed by Capital Market Authority (CMA).
Pierre Celestin Rwabukumba, the Director General of Capital Market explained that there are huge opportunities in investing in this kind of business.
He said that total shareholders of this market account for 60 percent on one side, and there is another part of 20 percent that is owned by the banks and insurance companies while another 20% is owned by the Ministry of Finance and Economic Planning (MINECOFIN).
He further explained that this market was established to help the country collect money from many people and to make appropriate and safe interests.
“in fact, the capital market gathers together good ideas of entrepreneurs and business people to gather to collect their money for long-term interests for themselves and for the country in general. It is another saving strategy for a long period of time and it promotes good governance in business investment,” he said.
Last year, the Bank of Kigali got over Rwf 70 million for its savings in the capital market.
Wise people will always look on how to invest in long-term savings instead of saving in banks. Others will buy houses or hire them, others would love to buy land or cars while others join the capital market.
The Amsterdam Stock Exchange in Holland was the first capital market that started in 1602. In 2002, it was later merged with Brussels Stock Exchange and Paris Stock Exchange, where it got the name of Euronext.
Rwabukumba highlighted that the capital market is the general and entire life of the country as the current total shares and goods on the markets excluding the government’s bonds counts at $3,4 billion.
This amounts can reach to $3,7 billion together with the government’s bonds.
It is expected that the government will be having around $1 billion by the end of 2019.
The bond that lasts longer is between 10 to 15 years and they are offered from three, five, seven up to 1o years.
“We request Rwandan community abroad to open their bank accounts and start saving so that they play their role in building the national economy, we guarantee the security of clients’ accounts and what is more interesting is to save via the capital market initiative,” Rwabukumba noted.
A client gets money on his/her bank account in every six months. The central bank is the focal point to follow on these savings.
A special message to Rwandan Community Abroad
“What I can tell you is that the country is attaining its development because many Rwandans are investing in more than Rwandan people in diaspora, who come for their own interests from the country. We encourage you to open your bank accounts for investment in this country
Rwanda leads the flow in the East African Region to participate on the capital market and is the 29th worldwide, and the second in Africa.
The Express News
