Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2023
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US
Commonwealth Business Communications
Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2023
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US

RWANDA CAPITAL MARKETS FINANCE BOOST FOR SMALL BUSINESSES

  • CBC News Team
Total
0
Shares
0
0
0

To support the development of Rwanda’s capital markets, the IFC, the National Bank of Rwanda and Rwanda’s Capital Markets Authority have announced a four-year partnership that will help expand access to long-term local currency finance in Rwanda for key sectors such as housing, agribusiness, and smaller businesses.

Liquid, diverse and well-regulated local capital markets are an essential source of local-currency financing for the government, financial sector participants, and end users such as small businesses. Under the Rwanda Capital Market Development project, IFC will advise the National Bank of Rwanda, CMA, and other key stakeholders on increasing secondary market liquidity in the government debt market, increasing the supply and issuance of non-government bonds, and developing a professional investor base.

IFC will also provide advice on adopting appropriate investment guidelines and help assess the potential for alternative investment vehicles and instruments to mobilise long-term financing for key sectors. While Rwanda’s capital market has developed a basic enabling regulatory framework since its inception in 2007, it requires further development to enable more issuance of securities and strengthen the capacity of market players, intermediaries, investors, and issuers.

“IFC’s support will enable the local capital market industry to play a key role in supporting Rwanda’s economic development by improving the framework for money markets and government securities markets, among others. Strengthening the financial management and governance of businesses will benefit the banks that lend to them and enable them to access capital markets for funding,” said John Rwangombwa, Governor of the National Bank of Rwanda.

“The Rwanda Capital Market Development project will contribute to further developing the local capital market industry by making it more diverse and liquid. However, tapping the Rwandan capital markets as an essential source of local currency financing for both the private sector and government requires the development of financing techniques and instruments that meet the requirements of capital market investors,” said Eric Bundugu, acting Executive Director of the Rwanda Capital Market Authority.

“Through the Rwanda Capital Market Development project, IFC will support the creation of a solid enabling environment for crowding in private sector finance into key sectors for economic development. Better developed domestic capital markets can help allocate investment more efficiently and allow for better risk-sharing, while providing an alternative funding source to complement bank financing,” said Dan Kasirye, IFC’s Resident Representative for Rwanda.

The initiative follows IFC’s support in 2008 to CMA and other key stakeholders under the Efficient Securities Markets Institutional Development Africa programme to help improve local expertise and design effective environments for mobilising long-term capital.

About the National Bank of Rwanda

BNR is the Central Bank of the Republic of Rwanda. BNR supervises and regulates the activities of financial institutions: banks, micro finance institutions, insurance companies, social security institutions and pension funds institutions. BNR also issues government securities on behalf of the Government of Rwanda. It further houses the Central Securities Depository (CSD) for the Rwandan market. For more information, visit https://www.bnr.rw/home/

About the Rwanda Capital Market Authority

CMA is a Rwandan public institution responsible for developing and regulating the capital markets industry, collective investment schemes (CIS), commodities exchange and related contracts as well as warehouse receipts system. The CMA continues to maintain a conducive legal and regulatory environment to enable Rwanda’s economy to access long-term funding through the capital markets as well as ensuring investor protection.

About IFC

IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
CBC News Team

Previous Article

FINANCIAL BOOST FOR TONGA’S SUSTAINABLE DEVELOPMENT PRIORITIES

  • CBC News Team
Read More
Next Article

KENYA LAUNCHES PORTAL FOR INVESTMENT IN SPECIAL ECONOMIC ZONES

  • CBC News Team
Read More
You May Also Like
Close up on Mosquito. Mosquito-borne disease Dengue outbreak in Jamaica
Read More
  • Health
  • GOVERNMENT
  • HEALTH
  • JAMAICA

Jamaican Health Ministry declares dengue outbreak

  • CBC News Team
  • 26 September 2023
Read More
  • CHOGM Reports
  • Heads of Government
  • GOVERNMENT

Commonwealth ministers to meet in New York to lay groundwork for CHOGM summit and COP28

  • CBC News Team
  • 19 September 2023
Dr Jamila Bio Ibrahim as New Minister for Federal Ministry of Youth
Read More
  • Education & Youth
  • Heads of Government
  • GOVERNMENT
  • NIGERIA

President Tinubu nominates Dr Jamila Bio Ibrahim as new Minister for Federal Ministry of Youth

  • CBC News Team
  • 18 September 2023
Canadian Minister welcomes Brunei Darussalam Minister of Foreign Affairs. Canadian flag in front of the Canadian parliament building
Read More
  • Trade & Investment
  • BRUNEI DARUSSALAM
  • CANADA
  • TRADE AND INVESTMENT

Canadian Minister Joly welcomes Brunei Darussalam’s Second Minister of Foreign Affairs to Canada

  • CBC News Team
  • 18 September 2023
mother carrying a baby on her back wrapped in a cloth, casava farming in Sierra Leone
Read More
  • Health
  • GOVERNMENT
  • SIERRA LEONE

Sierra Leone’s determination to stem maternal and child mortality

  • CBC News Team
  • 18 September 2023
Senior members of the CYMM gather on the steps of the Commonwealth Secretariat's headquarters, Marlborough House.
Read More
  • Education & Youth
  • GOVERNMENT

Commonwealth ministers gather to advance initiatives to deliver more for young people

  • CBC News Team
  • 13 September 2023
66th Commonwealth Parliamentary Conference banner
Read More
  • Heads of Government
  • GOVERNMENT

66th Commonwealth Parliamentary Conference

  • CBC News Team
  • 11 September 2023
Commonwealth Observer Group to the Maldives Parliamentary Elections
Read More
  • Heads of Government
  • GOVERNMENT
  • MALDIVES

Maldives presidential election heading for 2nd round after no clear winner emerges

  • CBC News Team
  • 11 September 2023
OUR LATEST PUBLICATION
Commonwealth Education Report 2023
EDUCATION 23

Subscribe to our Newsletter

PARTNER FOCUS
Recent Posts
  • Pakistan floods one year on
    One year on from catastrophic floods, millions of children in Pakistan still need urgent support
  • Ministry of Health Kenya WHO National Multi-Hazard Preparedness Plan Workshop
    Kenya: Ministry of Health partners with WHO to conclude National Multi-Hazard Preparedness Plan Workshop
  • Close up on Mosquito. Mosquito-borne disease Dengue outbreak in Jamaica
    Jamaican Health Ministry declares dengue outbreak
  • Commonwealth team to observe Maldives second round election run-off
    Commonwealth team to observe Maldives election run-off

Subscribe

Subscribe now to our newsletter

Commonwealth Business Communications
  • HOME
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2022 Commonwealth Business Communications Limited. All Rights Reserved.

Input your search keywords and press Enter.