Rwanda to host stock markets meet in June

Rwanda is set to host the East Africa Securities Exchange Association (EASEA) meeting June this year EASEA is an association that brings together the region’s stock markets of Uganda, Kenya, Tanzania, and Rwanda. Burundi is yet to acquire a stock market. Rwanda joined the association last year after signing the memorandum of understanding with the rest of the members. “The association helps to promote the development of the capital markets in the region, training of the members of the association such as brokers,” said Capital Market Advisory Council (CMAC) Operational Manager, Celeste Rwabukumba. Some of the objectives of the association include, developing and promoting a data bank of information, exchanging of information and materials on the capital markets, and promotion of common standards on issuing, listing and trading of securities. “Burundi as the only country in the region that is not part of the association, has been invited to follow the regional initiative” added Rwabukumba. Rwanda has also joined the East Africa Securities Regulatory Authority (EASRA) a body that brings together regional security exchange, regulatory institutions. The East Africa Securities Exchange Association has registered achievements for the members which range from cross boarder trading and cross-listing of companies for example Safaricom, Kenya Commercial Bank (KCB) which is set to list on the Rwandan market later this year. The association has also established a smart order routing system model which will enable a trading platform. EASEA has identified a company that will implement the model. In order to strengthen the financial markets, EASEA closely supervises the markets and brokers and monitors what is going on in the brokerage houses. However, the association is faced with numerous challenges such as the on going financial crisis that affects the markets, lack of capacity for the participants and lack of liquidity and products on the markets. Ends

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Rwanda to host stock markets meet in June