CMAC bids farewell to Plantenga

The Rwanda Capital Market Advisory Council (CMAC), an institution responsible for the development of capital markets in the country, last week held a farewell party for Door Plantega, who has been a board member of the council. Plantega who has also been the managing director of Rwanda’s sole brewing company and beverage manufacturer Bralirwa S.A was transferred to central Europe by Heineken, one of Europe’s biggest brewery’s. ‘We are loosing a friend, we are loosing a colleague and we are loosing a brilliant member’, said Dr.James Ndahiro a board member at the farewell function held at Top Tower Hotel last week. ‘she has brought a lot of ideas from different sectors, from her exposure. Having worked in different countries, she has brought that experience to CMAC. We ask her to continue being our ambassador wherever she is’, he added. The CMAC was launched in January last year and Plantenga has been a board member since its inception. According to Ndahiro, the capital market regulatory body has managed to raise nearly Rwf.15Billion on the primary market and more than Rwf.600Million from the secondary market. ‘As a young organisation, we think CMAC has done very well and she is part of that success’, Ndahiro added. Ndahiro said that,CMAC had managed to bring together ideas from the public and private sector to make sure that the council cared and catered for the interests of the country’s business community by providing the community with a platform for companies to raise funds. ‘It is obvious that companies that have at least more equity than debt in their books are doing much better, which is something that we should keep emphasising in this economy with the players in the private sector’. Bralirwa is majority owned by Heineken which has 70 percent stake in the firm while the Rwandan government owns the remaining 30 percent. Government plans to float some of its shares in big corporations on the stock market and Bralirwa is one of the companies government has identified. ‘I hope she will be able to come and witness how the company she has been representing is opening up investment opportunities to the Rwandan people. CMAC has tried to build awareness to make sure that people realize that investing into financial assets is one of those viable alternatives’, Ndahiro said. He said that Plantenga’s departure is a blow to the council but it is also said that it was an opportunity because she is going to become an ambassador who will direct many investors on to the Rwandan bourse. Plantenga said that Bralirwa had initial plans of listing on the Rwanda stock exchange but unfortunately that has not materialised during her stay in the country. ‘More realistic and more actual in the short term is the issue of the bond markets and I think it will create more dynamism into the capital market’, she said. Ends

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CMAC bids farewell to Plantenga