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Rwanda Stock Exchange

  (Redirected from Rwandan Stock Exchange)

The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company was officially launched on 31 January 2011.

Rwanda Stock Exchange
Stock Exchange
PredecessorRwanda Over The Counter Exchange
Founded31 January 2011
HeadquartersKigali, Rwanda
Key people
Celestin Rwabukumba
Chief Executive Officer[1]
ProductsStock trading services


The exchange's doors opened for trading on 31 January 2011. That day coincided with the first day of trading in the stock of Rwanda's only brewery, Bralirwa, which trades under the symbol:BLR.[2] The Rwanda Stock Exchange replaced the Rwanda Over The Counter Exchange that had been in operation since January 2008, with two companies listed, namely Kenya Commercial Bank Group (KCB) listed on 18 June 2009 and National Media Group (NMG) listed on 2 November 2010.[3]


Having successfully launched Bralirwa as its pioneer Initial Public Offering (IPO), RSE's second IPO was Bank of Kigali, launched on 31 June 2011.[4] On 14 April 2015, Crystal Ventures announced its intention to have an initial public offering (IPO) on the Rwanda Stock Exchange of its wholly owned subsidiary, Crystal Telecom.[5] Crystal Telecom holds a 20% stake in MTN Rwanda,[6] the country's largest telecoms company.

In February 2011, the National Bank of Rwanda, the country's Central Bank, contracted Central Depository and Settlement Corporation (CDSC), a Kenyan company, to serve the Rwanda Stock Exchange for one year and to train Rwandan staff until Rwanda can start and operate its own securities registry.[7] On 7 December 2012, RSE launched the Rwanda Stock Exchange Share Index (RSESI), an independently calculated, rules-based, market capitalization weighted performance benchmark for Rwanda Stock Exchange's equities.[8]

The futureEdit

As of April 2014, the RSE trades five listed local and East African companies and also carries out trading of three government and one corporate fixed income instruments.[9] The exchange, which is open five days a week, is a member of the African Stock Exchanges Association. The RSE operates in close association with the Nairobi Stock Exchange in Kenya, the Dar es Salaam Stock Exchange in Tanzania and the Uganda Securities Exchange in Uganda. There are plans are to integrate the four stock exchanges to form a single East African bourse.[10] In January 2016 The EastAfrican reported that three IPOs were in the pipeline.[11]

Market listingEdit

As of September 2015

Number Symbol Company Notes
1. BRL Bralirwa Brewing, Bottling
2. KCB Kenya Commercial Bank Group Banking, Finance
3. NMG Nation Media Group Publishing, Printing, Broadcasting, Television
4. BOK Bank of Kigali[12] Banking, Finance
5. UCHU Uchumi Supermarkets[13] Supermarkets
6. EQTY Equity Group Holdings Limited[14] Banking, Finance
7 CTL Crystal Telecom Rwanda Mobile telephony

See alsoEdit


  1. ^ Kabona, Esiara (15 January 2018). "Bank of Kigali seeks strategic investor". The EastAfrican. Nairobi. Retrieved 22 January 2018.
  2. ^ Doya, David Malingha (24 January 2011). "Rwanda Stock Exchange, Capital Markets Authority to Open January 31, 2011". Bloomberg News. Retrieved 13 April 2014.
  3. ^ "Listed Securities On Rwanda Stock Exchange". Rwanda Stock Exchange. Archived from the original on 14 April 2014. Retrieved 13 April 2014.
  4. ^ Gachiri, John (7 February 2011). "Interest In Rwanda Bourse Rises As Second IPO Planned". Business Daily Africa. Retrieved 13 April 2013.
  5. ^ "Crystal Ventures intends to IPO Crystal Telecom on the Rwanda Stock Exchange". Crystal Ventures Ltd. Retrieved 4 June 2015.
  6. ^ "Crystal Telecom Overview". Retrieved 4 June 2015.
  7. ^ Mugwe, David (11 February 2011). "Kenya's Shares Custodian Wins Rwanda Contract". Business Daily Africa. Retrieved 13 April 2014.
  8. ^ "Rwanda Stock Exchange Launchers Its First Index". Rwanda Capital Markets Authority. Retrieved 13 April 2014.
  9. ^ "Equity And Bond Listings On Rwanda Stock Exchange". Rwanda Stock Exchange. Archived from the original on 14 April 2014. Retrieved 13 April 2014.
  10. ^ Winile Masinga, and Polycarp Machira (9 July 2013). "East Africa Hopes to Have Regional Stock Exchange in a Year - Experts". London: Trust Media via Retrieved 13 February 2016.
  11. ^ Esiara, Kabona (2 January 2016). "Three IPOs expected on Rwanda bourse". EastAfrican. Nairobi. Retrieved 13 February 2016.
  12. ^ Murdoch, Heather (8 August 2011). "Bank of Kigali IPO Attracts Bids for Three Times Number of Shares Offered". Bloomberg News. Retrieved 13 April 2014.
  13. ^ By, Xinhua (6 October 2013). "Uchumi To Cross-List Shares In Rwanda". Daily Nation. Retrieved 13 April 2014.
  14. ^ a b Ngigi, George (11 February 2015). "Equity Debuts At The Rwanda Stock Exchange". Business Daily Africa (Nairobi). Retrieved 11 February 2015.
  15. ^ Special, Correspondent (4 September 2012). "Rwanda Stock Exchange Braces for Automation". The Independent (Uganda). Retrieved 13 April 2014.
  16. ^ "Nation Builder:Cross Listing Comes Full Circle". Nation Media Group. March 2011. Retrieved 13 April 2014.
  17. ^ Gachiri, John (15 October 2013). "Uchumi Third Kenyan Firm to Cross-List on Rwanda Exchange". Business Daily Africa. Retrieved 13 April 2014.

External linksEdit