{"id":56495,"date":"2025-12-09T09:50:44","date_gmt":"2025-12-09T09:50:44","guid":{"rendered":"https:\/\/new.igihe.com\/rwanda-s-capital-market-enters-a-new-phase-of-growth\/"},"modified":"2025-12-09T09:29:56","modified_gmt":"2025-12-09T09:29:56","slug":"rwanda-s-capital-market-enters-a-new-phase-of-growth","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/rwanda-s-capital-market-enters-a-new-phase-of-growth\/","title":{"rendered":"Rwanda\u2019s capital market enters a new phase of growth"},"content":{"rendered":"<p>Speaking across several high-level panels, the Chief Executive Officer of the Capital Market Authority (CMA), Thapelo Tsheole, positioned institutional investors, pension funds, insurers, collective investment schemes, and banks as the bedrock of Rwanda\u2019s next growth phase. With long-term horizons and sizeable asset bases, these investors offer the stability and scale required to support market depth and sustained capital formation.<\/p>\n<p>Tsheole acknowledged the challenges of deploying long-term capital in frontier markets, noting the need for strong governance, technical capacity, and robust risk frameworks to safeguard investors\u2019 interests while driving productive investment.<\/p>\n<p>He also emphasised Rwanda\u2019s regulatory model, rooted in clarity, predictability, and investor protection. The CMA follows a consultative approach and in 2025 engaged more than 700 enterprises nationwide to ensure that regulation remains proportionate, practical, and responsive to a rapidly evolving market landscape.<\/p>\n<p>Regionally, Rwanda continues to collaborate through the East African Securities Regulatory Authorities (EASRA), advancing cross-border listings, shared innovation frameworks, and harmonised oversight standards. This enhances market connectivity and widens access to capital across East Africa.<\/p>\n<p>On foreign participation, Tsheole pointed to the Multicurrency Securities Directive as a breakthrough for diaspora and international investors. Rwanda\u2019s diaspora remits between USD 600\u2013800 million annually, roughly 6% of GDP. New instruments such as diaspora bonds and digital savings products aim to channel a portion of these flows into long-term national investment priorities.<\/p>\n<figure class=\"spip-document spip-document-98894 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participation.jpg\" alt=\"Rwanda presented a clear picture of a market that now moves beyond early-stage reform towards sustained growth and deeper participation.\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>At the Capital Market Summit held in Addis Ababa in December 2025, Rwanda laid out a compelling vision of a market shifting from early-stage reform to a phase of deeper institutionalisation, regional integration, and global engagement.<\/p>\n","protected":false},"author":131,"featured_media":2000098895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-56495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-62","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000098895,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwanda_presented_a_clear_picture_of_a_market_that_now_moves_beyond_early-stage_reform_towards_sustained_growth_and_deeper_participationlogo.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=56495"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000098895"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=56495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=56495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=56495"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=56495"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=56495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}