The Capital Markets Authority (CMA) is optimistic that more companies will soon cross-list on the young Rwanda Stock Exchange as it endeavours to grow. “A number of companies want to come to the market. We have so far received applications from several Kenyan firms that want to cross-list on the Rwanda Stock Exchange,” Robert Mathu, the CMA executive director, said in an interview. “These firms might not cross-list on the stock market immediately or at the same time, but they have confirmed their interest.” The stock market currently boasts two local companies, Bralirwa and Bank of Kigali, as well as two regional firms, Kenya Commercial Bank and Nation Media Group. Interest from Kenyan companies Uchumi, Equity Bank and Kenol Kobil, first came up last year.
