Rwanda Stock Exchange

Rwanda Stock Exchange

Rwanda Stock Exchange
Stock Exchange
Industry Finance
Predecessor Rwanda Over The Counter Exchange
Founded 31 January 2011
Headquarters Kigali, Rwanda
Products Stock trading services
Website Homepage

The Rwanda Stock Exchange (RSE), is Rwanda's principal stock exchange. It was founded in January 2011. The RSE is operated under the jurisdiction of Rwanda's Capital Market Authority (CMA), previously known as Capital Markets Advisory Council (CMAC), which in turn reports to the Ministry of Finance and Economic Planning (MINECOFIN).


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.[1] 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.[2]


Having successfully launched Bralirwa as its pioneer Initial Public Offering (IPO), RSE's second IPO was Bank of Kigali, launched on 31 June 2011.[3] 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.[4] Crystal Telecom holds a 20% stake in MTN Rwanda,[5] 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.[6] 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.[7]

The future

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.[8] 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.

Market listing

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[9] Banking, Finance
5. UCHU Uchumi Supermarkets[10] Supermarkets
6. EQTY Equity Group Holdings Limited[11] Banking, Finance
7 CTL Crystal Telecom Rwanda Mobile telephony

See also


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External links

  • Website of Rwanda Stock Exchange
  • African Securities Exchanges Association Homepage