Rwandans now account for 77% of participation in the Rwanda Stock Exchange (RSE), up from a market previously dominated by foreign investors, according to figures presented during a capital markets awareness campaign in Rubavu.
David Mitari, Director of Operations at Rwanda Stock Exchange, said on October 28 that local participation had grown significantly over the past three years, as more Rwandans opened investment accounts and explored opportunities in the capital market.
Mitari said foreign investors had previously accounted for about 60% of participation, but Rwandans had since taken a larger share.
“The trend is moving in a positive direction. Rwandans now account for more than 77% of the participation in our market, and they are increasingly opening accounts,” he said.
The figures were presented during the 2026 Capital Markets Roadshows, an initiative organised by the Capital Market Authority (CMA) to encourage businesses and individuals to make greater use of the country’s capital market.
Mitari said the increase reflected changing attitudes towards investment, with more Rwandans beginning to see the stock exchange as an option beyond wealthy individuals and foreign investors.
He added that about 300,000 Rwandans had opened accounts to conduct investment transactions on the exchange.
The roadshow in Rubavu brought together private-sector representatives to discuss how businesses and individuals can use the capital market to raise funds, diversify investments and build wealth.
Western Province Governor Jean Bosco Ntibitura encouraged business owners to look beyond their existing commercial activities and consider other investment opportunities.
He said engagement with capital market professionals could help entrepreneurs understand how to make better use of the money they already have and identify additional sources of returns.
The RSE provides companies with a platform to raise capital through instruments such as shares and bonds, while investors can buy securities in the hope of earning returns.
One example is Prime Energy, an energy company that raised more than Rwf9.5 billion through green bonds intended to support environmentally focused projects.
The growing number of local participants could broaden the pool of investors available to businesses seeking financing. However, continued growth will also depend on public understanding of how capital markets operate, including the risks associated with investing in shares and bonds.
