The Rwanda’s Capital Market Authority (CMA) and Chartered Institute for Securities and Investment (CISI) last week signed an agreement on the implementation of a qualifications- led licensing programme for the capital markets.

According to Robert Mathu, the Executive Director of CMA, the agreement seeks   to enhance professionalism and promote development of   capital markets in Rwanda.

Both parties agreed to develop and support practitioners with modern technical expertise and know how to   boost ethical standards, integrity and professionalism of the industry across the region.

The financial sector is meant to contribute to the development and growth of the economy and therefore   putting in place a well-structured programme is critical for the industry,” Mathu said adding that the agreement will promote the capital market industry in Rwanda through provision of skills to sector players.

Helena Green, the strategic project manager at CISI said, both the CMA and CISI will work together to provide a qualification pathway for practitioners in differing job functions.

"The competence is not just about examinations, it’s about skills, knowledge, expertise, ethical behavior and the application maintenance of all these,” said Green.

 "We are delighted to provide assistance for this certification programme which is an important step forward for Rwanda to boost professionalism of its capital markets and enhance attractiveness as an investment destination in sub-Saharan Africa,” she added.

Eric Rwigamba, the Financial Sector Development Directorate at Ministry of Finance and Economic planning, said the agreement is critical in terms of capacity building  for sector players to enhance efficiency in  terms of service delivery.

"The agreement is timely and will add value to the capital markets across the region,” Rwigamba said during the signing ceremony in Kigali last week.