In a special Ring the Bell ceremony held in Luxembourg on Wednesday 23 March 2022, the Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) announced that the two exchanges have signed a Memorandum of Understanding (MoU).
The MoU was signed in the presence of Dieudonné Sébashongore, Rwanda’s Ambassador to Belgium and Luxembourg.
The MoU aims to establish a long-term cooperation between the two exchanges, with a specific focus on the development of sustainable finance in the African country.
Along with the aim of contributing to orderly financial markets through capacity building and skills development within Rwanda’s Kigali International Financial Centre, the MoU will also facilitate joint work on market developments and new products, including a possible future dual-listing scheme between the two institutions.
“It is an honour to sign this Memorandum of Understanding with Rwanda Stock Exchange and to welcome its representatives to LuxSE. Stock exchanges have a crucial role to play in facilitating global cooperation when it comes to developing sustainable finance and international capital markets more generally. We look forward to working with Rwanda Stock Exchange and continue our mission to make sustainable finance truly global,” said Arnaud Delestienne, Director of International Capital Markets and Member of the Executive Committee of LuxSE.
Having first opened its doors for trading in January 2011, RSE is an exchange in the East African region which has big ambitions for the development of Rwanda’s capital markets and its future financial outlook.
Pierre Celestin Rwabukumba, CEO of Rwanda Stock Exchange, said: “Today’s official signing with LuxSE is a testimony to our exchange’s unwavering commitment and support to the sustainable development agenda fronted by our governments. The choice of LuxSE is no accident as it was the first exchange to introduce a platform for green financial instruments and this makes it the ideal venue for anyone in emerging or frontier markets who wants to cooperate and make fast progress in sustainable finance. We look forward to building a more resilient market, especially during this time where everyone is emerging from the COVID-19 pandemic and its aftermath”.