In 2024, the Rwanda Stock Exchange (RSE) saw impressive growth. The market value jumped from 100 billion to 129 billion Rwandan Francs. This was a 126% increase compared to the year before. The Rwanda Share Index (RSI) also rose by 15.86%, showing a boost in stock values.
RSE introduced new financial products, bringing fresh investment opportunities. Three private companies raised 51 billion Rwandan Francs in the last quarter. Prime Energy Plc issued green bonds worth 9.58 billion Rwandan Francs. These bonds offered a seven-year term with a 13.75% annual interest rate. Mahwi Grain Millers Plc followed with bonds worth 3 billion Rwandan Francs, offering 15% annually. Both companies were trained under RSE’s Capital Market Investment Clinic program.
BRD Plc also launched development bonds worth 33.5 billion Rwandan Francs, with an interest rate of 12.9%. All the bond issuances were highly successful. Investor participation was greater than expected. The number of investors grew by 37.35%, reaching 95,672. Most of these investors, 95.75%, were domestic.
This growth came thanks to the ease of access to the market and effective marketing campaigns. The total market capitalization rose slightly to 3.8 trillion Rwandan Francs, up from 3.6 trillion in December 2023.
RSE also added new investment products like Exchange-Traded Funds (ETFs) and Real Estate Investment Trusts (REITs). These gave investors low-cost options with potential for higher returns. The exchange also launched Green Bonds for the first time, supporting Rwanda’s efforts to fight climate change.
Looking ahead, RSE has big plans. The East African Capital Markets Infrastructure (CMI) Project will connect markets across the region. This will make it easier to trade and settle securities. The project will also help RSE meet international standards.
Another project, the African Capital Markets Linkage Project (AELP), will make cross-border investments easier. This will support the African Continental Free Trade Area (AfCFTA).
RSE is also focusing on technology to improve trading. This will boost investor confidence and make the market more accessible. New products like a Green Exchange Window, multi-currency instruments, market-making services, and Sharia-compliant finance products will be introduced.
RSE remains committed to raising funds through green bonds and promoting environmental, social, and governance (ESG) principles. This will help Rwanda reach its long-term Vision 2050 goals.
