Rwandans account for 77% of investors on Rwanda Stock Exchange

By The Inspirer.

Rwandans now account for more than 77% of participation in the Rwanda Stock Exchange (RSE), while the number of investors who have opened accounts to trade on the market has reached 300,000, according to exchange officials.

The figures were announced in Rubavu District on October 28, 2026, during the Capital Markets Roadshows 2026, an outreach campaign organised by the Capital Market Authority (CMA) to encourage businesses to explore investment opportunities available through the capital market.

Mitari David, Head of Operations at the Rwanda Stock Exchange, said local participation had increased significantly over the past three years, with Rwandans taking a growing share of investments previously dominated by foreign investors.

He said foreign investors had previously accounted for about 60% of market participation, but Rwandans have since taken the lead.

“When you look at how participation has shifted from foreign investors, who were known to capture most of the returns from companies listed on the RSE, towards Rwandans, you can see that things are moving in the right direction. Rwandans now account for more than 77% of participation in our market, and more people are opening accounts,” Mitari said.

He attributed the growth to changing attitudes towards investment, with more Rwandans recognising that the stock market is not exclusively for foreigners or wealthy individuals.

“Rwandans need to understand that the capital market is available to them and take advantage of it. Over the past three years, local participation has grown significantly, reaching 77% and surpassing foreign investors, who previously accounted for 60%,” he said.

Mitari added that approximately 300,000 Rwandans have now opened accounts enabling them to conduct transactions on the exchange.

The growing participation reflects increasing awareness of how individuals can put their savings to work by purchasing shares or bonds.

During the Rubavu campaign, business owners were introduced to ways of using the capital market to grow their wealth and invest in opportunities that could generate returns.

Western Province Governor Ntibitura Jean Bosco urged entrepreneurs to look beyond investing solely in their existing businesses and consider other available investment opportunities.

“Engaging with professionals from the Rwanda Stock Exchange provides an opportunity for business owners to learn how they can generate additional income from the money they already have. They need to understand these opportunities and receive guidance on how they work. The CMA is an institution that creates value, and those who engage with it can also benefit,” he said.

Several companies in Rwanda have already used the capital market to raise funds for business expansion.

Among them is Prime Energy, an energy company that raised more than Rwf9.5 billion through green bonds designed to finance environmentally sustainable projects.

The development highlights the role of the stock exchange in connecting companies seeking capital with investors looking for opportunities to grow their savings and earn returns.