Framing the Issues: Developing Capital Markets in Rwanda

On October 14-16, 2015, Rwanda’s Capital Market Authority (CMA) and the Milken Institute Center for Financial Markets (CFM) hosted a working Strategic Planning Roundtable on Capital-Market Development in Rwanda. FSD Africa provided funding support to the CMA for the event, which convened capital-market players, private investors, capital-market regulatory authorities from the region, officials from development agencies and international financial institutions, and other capital market experts. The roundtable’s purpose was to inform the scope of work for a 10-year Capital-Market Master Plan (CMMP) for Rwanda. This document frames the issues and summarizes the important themes discussed for building capital markets in Rwanda’s small, open economy. It aims to capture both the points of consensus and the divergent views of the range of academics and expert practitioners present.

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