Rwanda Stock Exchange’s trading activities dipped by 23% in 2023
TLDR
- Trading activities on the Rwanda Stock Exchange decreased by 22.7% in 2023 compared to the previous year.
- Despite the decrease in trading volumes, the Rwanda Share Index (RSI) rose by 3.35% and the RSE All Share Index (ALSI) increased by 0.73%.
- Rwanda's stock indices outperformed other regional stock exchanges, such as Nairobi, Uganda, and Tanzania, indicating resilience and stability in the country's capital market.
According to official data, in 2023, trading activities and volumes on the Rwanda Stock Exchange (RSE) experienced a 22.7% decrease compared to the same period in 2022. However, the Rwanda Share Index (RSI) and the RSE All Share Index (ALSI) positively performed. The RSI rose by 3.35% to close at 113.30, and the ALSI increased by 0.73% to close at 143.78.
Despite reducing trading volumes, Rwanda's share indices outperformed those of other regional stock exchanges. For instance, the Nairobi index decreased by 28.44% to close at 91.46%, Uganda decreased by 26.11% to close at 895.9, and Tanzania decreased by 5.94% to close at 1766.30.
The positive performance of Rwanda's stock indices suggests relative resilience and stability in the country's capital market amid changes in trading activities.
Key Takeaways
Globally, markets remain jittery, Rwanda's inclusive. But the local market, being relatively small and a newly developing one, faces challenges in attracting companies for fundraising. These challenges stem from insufficient knowledge about market operations, reluctance to change, fear of disclosure, and perceived costs and risks associated with going public. Additionally, developing the secondary market is equally challenging due to factors such as a limited number of domestic institutional investors, restricted participation of non-resident investors, a lack of offerings in the primary market, and insufficient benchmark bonds and investable assets in general.
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