A delegation of civil servants from the Republic of South Sudan visited the Capital Market Authority (CMA) and praised the Government of Rwanda for developing the capital market sector in the country.
The delegation was briefed on CMA's background as well as the experience in the regulation of the capital market industry in Rwanda.
The Deputy Executive Director of Capital Market Authority, Eric Bundugu says the market provides an avenue for local and regional firms to raise long-term development capital that is not costly.
He noted that “Capital markets provide an ideal platform for transparency in transferring management from the private to the public sector by floating shares to the general public and offering the common man an opportunity to buy ownership into those companies.”
The team was headed by Aggrey Tisa Sabuni–Presidential Advisor on Economic Affairs and Co-Chairperson of the High Level Committee for EAC. Sabuni recognised the Capital Market Authority and Rwanda at large for allowing them to make such wonderful study tour to the Capital Market Authority; he further stressed that this study visit will be fruitful for the development of South Sudan as a new country.
“No single country has ever been developed without having a strong capacity building, we should learn from our friends such as Rwanda to build our nation; we believe that people learn more by seeing and doing. When you get to learn about the advantages, and see others save and invest through the capital market, you become more encouraged to do the same things yourself,” said Sabuni.
The Authority is mandated with both regulating and developing an orderly, fair, transparent and efficient capital markets in Rwanda. CMA's vision is also to be a key contributor to Rwanda becoming a competitive financial center through mobilization of long term capital.
South Sudan officials visiting the Rwanda Stock Exchange trading floor