The Cabinet, on June 14, appointed Botswana financial market expert and entrepreneur Thapelo Tsheole as the CEO of Rwanda’s Capital Market Authority (CMA). The CMA is a specialised organ with dual mandates for developing and regulating the capital markets industry, commodities exchange and related contracts, warehouse receipts systems and collective investment schemes. Who is CMA’s new CEO? Tsheole brings a wealth of experience and expertise to his new role. He has a distinguished career spanning over 24 years in the financial markets. ALSO READ: Capital markets regulator gets new boss He replaces Eric Bundungu who has been the acting Executive Director. Before joining CMA, Tsheole served as the CEO of the Botswana Stock Exchange (BSE) for eight years and held key positions at the Central Bank of Botswana. Throughout his career, Tsheole has demonstrated a strong commitment to the development of financial markets in Botswana and Africa, recognising their crucial role in driving economic growth and stability, according to information from CMA. His leadership at the BSE since 2016 has been marked by initiatives aimed at boosting activity in the financial market. ALSO READ: Rwanda moves to regulate online forex trading In recognition of his service, Tsheole was honoured with the Presidential Order of Meritorious Service by the President of Botswana in 2018. He also served as President of the African Securities Exchanges Association, and Chairman of the Committee of Southern African Development Community (SADC) Stock Exchanges, which oversees securities exchanges in Botswana, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe. Tsheole's past board memberships include positions at the Special Economic Zone Authority in Botswana, Botswana Accountancy Oversight Authority, Botswana Medicines Regulatory Authority, and the African Integrated Reporting Committee. He holds a bachelor's degree with a major in economics from the University of Botswana, a master’s degree of commerce in financial markets from Rhodes University, and a master's degree in business administration from the University of Cape Town, in South Africa. Tsheole is a member of the South African Institute of Financial Markets and the Institute of Directors in South Africa. He has completed various financial markets programmes and a Leadership Development Programme at the University of Stellenbosch Business School, in Western Cape, South Africa. “CMA looks forward to working closely with Mr. Tsheole as he leads the organisation in driving the growth and advancement of Rwanda's capital market in alignment with the 10-year Capital Market Master Plan,” CMA observed in a press release. The Capital Market Master Plan, a 10-year development strategy of Rwanda’s capital market industry (2018 – 2028), sets out the steps which the Government of Rwanda intends to undertake in order to be able to exploit the tools of capital market finance to unleash the full potential of the economy and to enable Rwanda to play its role as a financial hub within the economy of East Africa.
