The Rwanda Stock Exchange (RSE) recently played host to David Kudakwashe Mnangagwa, Deputy Minister of Finance and Investment Promotion, and his delegation from the Republic of Zimbabwe, who visited Rwanda for a working visit.
In a symbolic gesture, Deputy Minister David Kudakwashe Mnangagwa presided over the opening of Thursday’s (April 18) trading session by ringing the bell.
During the visit, Pierre Celestin Rwabukumba, CEO of Rwanda Stock Exchange, extended a warm welcome to the Deputy Minister and his delegation on the trading floor.
He provided insights into the journey of the exchange, highlighting its inception in 2011 with the aim of providing long-term financing in support of Vision 2020, Rwanda’s transformational development strategy.
Rwabukumba emphasized the significant achievements of the RSE over the past decade, including raising US$2 billion in both equities and fixed income and achieving a market capitalization of US$3.6 billion.
He also acknowledged challenges such as the lack of diversified products and low levels of listings, promising to collaborate with counterparts from Zimbabwe to address these issues.
In his address, Minister Kudakwashe expressed the purpose of their visit, which aimed to gain insights into Rwanda’s financial management system and its success in efficiency.
He highlighted Rwanda as a standard for best practices in financial management and emphasized the importance of exploring opportunities for collaboration between the Rwanda and Zimbabwe Stock Exchanges.
Specifically, he proposed the idea of listing convertible and fungible products on both exchanges to facilitate trade and transactions between the two countries.In conclusion, both exchanges pledged to strengthen cooperation and create value for the citizens of Rwanda and Zimbabwe.
They agreed to explore opportunities such as real estate investment trusts, retail trading platforms, and investment clinics to enhance collaboration and foster economic growth.
