CMA signs deal to promote capital market industry
Written by: Joseph Mudingu
Sunday, September 4th, 2016, 4:05
Kigali: Rwanda Capital Market Authority (CMA) has signed a memorandum of understanding (MoU) with Chartered Institute for Securities and Investment (CISI) on the implementation of a qualifications-led licensing programme. This aims at growing professionalism and promoting development of capital markets in Rwanda.
Speaking at the ceremony, the Minister of Finance and Economic Planning (MINECOFIN), Claver Gatete, said that Rwanda’s financial industry has experienced significance growth and development, citing that the capital market is one of the areas which are still lagging behind because of its newness.
“We need our people to have the skills that are necessary to ensure that we have stakeholders who can run capital markets in the country,” Minister Gatete said. “CISI has come at the right time in our development process because we need people who are well trained, who can add more value in the development of capital markets in Rwanda.”
The MOU will play a major role in having one market which is well connected among the East African member states, noting that this will enable capital market stakeholders to trade among stock exchanges in the region.
The Executive Director of CMA, Robert Mathu, said that Rwanda’s joining qualifications-led licensing programme for the capital market industry is a clear indication that CMA is on the right track to becoming a regional centre.
“Most industries always have some kind of a stepping stone for aspiring professionals. It’s in this regard that I strongly believe that this MoU will promote the capital market industry in Rwanda through providing the required skills to capital market players,” Mathu said.
International Manager at CISI, Helena Green said that together with CMA, they will work together to provide a qualifications pathway for practitioners in different job functions.
“We are delighted to provide assistance for this certification programme which is an important step for Rwanda towards boosting the professionalism of its capital markets and enhancing its attractiveness as an investment destination in sub-Saharan Africa” Green said.
CISI is a non-profit educational organization which emerged from the London stock exchange when it was demutualized over two decades ago.