Rwanda stock exchange booms, equities, bonds surge in first half of 2024

The Rwanda Stock Exchange (RSE) has experienced a remarkable surge in activity during the first half of 2024, with significant growth observed in both the equities and fixed income markets.

“We have had a good run so far. We have seen an increment in our trading activity for both equities and bonds,” said Pierre-Célestin Rwabukumba, Chief Executive Officer of RSE, in an interview with The New Times.

The equities market saw an extraordinary increase in turnover, soaring by almost 2,700 percent to Rwf58.6 billion from Rwf2.1 billion in the same period last year.

The number of deals in the equities market also rose, albeit modestly, by 3.82 percent, from 314 in the first half of 2023 to 326 in the first half of 2024.

Similarly, the fixed income market showed strong performance, with turnover growing by 21 percent, reaching Rwf28.1 billion from Rwf23.2 billion in the corresponding period last year. The number of deals in the bonds market also saw a healthy increase of 7.54 percent, from 358 deals in 2023 to 385 in the same period this year.

Additionally, there was a slight uptick in market indices in the first half of 2024, reflecting the overall positive trend.

This impressive growth underscores the increasing investor confidence and activity in Rwanda’s financial markets, positioning the RSE as a burgeoning hub of economic activity in the region.