The Board of Directors of the Capital Market Authority (CMA) Rwanda has appointed Eric Ngabonziza Karekezi as Acting Chief Executive Officer, effective immediately, to ensure leadership continuity amid the search for a permanent replacement.
The announcement highlights the board’s focus on operational stability during the CEO selection process. Karekezi, Head of Market Development at CMA since November 2025, replaces outgoing CEO Thapelo Tsheole.
In his interim role, Karekezi will advance initiatives to strengthen Rwanda’s capital markets, including boosting investor trust, attracting foreign and diaspora investments, and supporting SME financing.
As Rwanda’s capital market regulator, CMA fosters a transparent financial ecosystem aligned with international standards like those of the International Organization of Securities Commissions (IOSCO).
Karekezi brings over two decades of global finance experience from institutions including J.P. Morgan, HSBC, BNP Paribas, and UBS, specializing in market infrastructure, securities services, custody operations, innovative financing, and digital finance.
Before CMA, he served as Technical Advisor at the National Bank of Rwanda’s Deputy Governor’s Office, contributing to digital transformation, Central Bank Digital Currency strategies, and digital finance policies.
His international roles include UBS Luxembourg, BNP Paribas Securities Services, and HSBC Securities Services, plus collaboration on a European Commission DG DEVCO innovative-financing program with COMESA, the East African Community, IGAD, and the Indian Ocean Commission.
Academically, he holds an Executive Master’s in Management from Solvay Brussels School of Economics and Management, a Master’s in Marketing from Coventry University, and executive programs in Open Banking, Finance for Regulators at Cambridge Judge Business School, and FinTech at the National University of Singapore.
The appointment follows recent CMA developments, such as the new board’s meet-and-greet under Chair Marc Holtzman and regional collaboration talks for market growth.
Stakeholders see it as sustaining Rwanda’s financial momentum, emphasizing long-term instruments like bonds and listings for national goals.
Emphasis, it is believed, is on regulatory advances to establish Kigali as an African financial hub.
