The Capital Markets Authority chief executive officer, Robert Mathu, has urged residents of Kamonyi District in the Southern Province to buy shares in firms listed on the stock market.

Mathu said the bourse is one of the areas where Rwandans can invest, save and accumulate wealth to expand their enterprises.

"This will also enhance access to long-term capital needed to fund projects and create jobs for citizens, besides creating more income for you and your households,” he added.

Mathu was addressing residents of Rugalika sector in Kamonyi after the Umuganda community service over the weekend.

His advice is part of the ongoing campaigns aimed at encouraging Rwandans to embrace the savings culture.

There are five firms listed on the Rwanda Stock Exchange (RSE) – Bralirwa, Bank of Kigali, Uchumi Supermarkets, Nation Media Group and KCB. Rwandans can also invest in government and corporate bonds trading on the stock market.

However, very few ordinary Rwandans have interest in what goes on at the stock market, which has made it largely inactive with some of the counters hardly trading any shares for months.

Yesterday, Bank of Kigali was the only active counter at the bourse. The bank traded 80,000 shares worth Rwf23.9 million in turnover.

Speaking at the same function, Finance and Economic Planning Minister Amb. Claver Gatete, urged the residents to embrace the savings culture if they are to kick poverty out of their households.

Gatete noted that the country needs savings to achieve its development objectives.

"When you save, you create an opportunity to borrow and invest so as to increase your earnings, alleviate poverty and ensure economic sustainability for your households,” he noted.

Rwanda is currently carrying out campaigns to encourage people to adopt a savings culture ahead of this year’s World Savings Day celebrations slated for Friday October 31. The day will be marked under theme, "Save now for a better future’.

Meanwhile, Airtel staff and officials from the Rwanda Federation Technique for Hairdressing and Beauty Treatment on Saturday joined Kanserege residents of Gikondo in Kicukiro District to repair roads and open drainages duringthe monthly Umuganda community service.

Speaking after Umuganda, Dieu Donne Namaka, the Airtel Rwanda territory sales manager, pledged the telecom’s continued support to community and national development programmes.