The African Securities Exchanges Association (ASEA) concluded its 28th Annual Conference in Kigali on Friday, unveiling landmark initiatives aimed at accelerating market integration, promoting sustainable finance, and enhancing cross-border investment across the continent.
The three-day gathering brought together more than 25 African stock exchanges, policymakers, institutional investors, and development partners for high-level discussions on the future of Africa’s capital markets.
Hosted by the Rwanda Stock Exchange (RSE), the event centered on strengthening cooperation, building market resilience, and catalyzing long-term investment to support Africa’s economic transformation.
Rwanda’s Minister of Finance and Economic Planning, Hon. Yussuf Murangwa, opened the conference by emphasizing the need for a strong equity culture grounded in innovation, risk-sharing, and long-term investment.
He highlighted the continued importance of exchanges in providing alternative funding platforms and encouraging responsible savings and investment across African economies.
Throughout the conference, delegates participated in policy forums and technical workshops addressing key priorities, including digital infrastructure advancement, regulatory harmonization, sustainable finance, and the development of commodities and derivatives markets.
Major Milestones Announced
This year’s conference unveiled several groundbreaking achievements:
1. Renewed Commitments to the African Exchanges Linkage Project (AELP)
Member exchanges reaffirmed their dedication to expanding cross-border trading, harmonizing infrastructure, and improving liquidity to foster more integrated African capital markets.
2. Launch of the Multicurrency Denominated Securities Market Segment (MDS)
In one of the conference’s most significant developments, the Rwanda Stock Exchange introduced the MDS, enabling companies to issue and trade securities in multiple currencies. The move is expected to deepen market liquidity, diversify investment products, and support more efficient cross-border capital flows.
3. Strengthened Collaboration with the African Continental Free Trade Area (AfCFTA)
AfCFTA Secretary General delivered a remote address underscoring the alignment between the two institutions. He emphasized that investment protocols under AfCFTA would boost the continent’s competitiveness and resilience, noting that Africa’s securities exchanges play a pivotal role in shifting economies from reliance on short-term lending toward more diversified and robust financial systems.
4. Launch of the Green Exchange Window
The RSE also launched Africa’s latest dedicated platform for green bonds, ESG-linked securities, and environmentally focused financial instruments. The Green Exchange Window is designed to expand sustainable investment opportunities and support climate and renewable energy initiatives across the continent.
5. Inaugural Pan-Africa ESG Awards
ASEA introduced the first-ever Pan-Africa ESG Awards, marking a historic milestone that recognizes African companies and market institutions demonstrating leadership in environmental sustainability, social responsibility, and strong governance.
A Shared Vision for Africa’s Market Future
Speaking at the closing ceremony, ASEA President and RSE CEO Pierre Celestin Rwabukumba celebrated the achievements of the conference, noting that the initiatives launched in Kigali mark a new chapter for Africa’s capital markets.
“Hosting ASEA 2025 has demonstrated what is possible when African markets come together with a shared vision,” he said. “The initiatives launched here — including the Pan-African ESG Awards and the Multicurrency Denominated Securities Market Segment — signal a new chapter for our continent.
Rwanda is proud to contribute to a future where Africa’s markets are more integrated, more innovative, and more globally competitive.”
