The Rwandas Capital Market Authority (CMA) has kicked off a three-month public awareness drive targeting potential retail investors across the country, encouraging them to save and invest through the local bourse.
The campaign was officially launched on Wednesday, October 4 in Nyanza District, Southern Province where CMA addressed heads of financial institutions from the district, according to a statement from the authority.
CMA takes investor education and public awareness as a key element in increasing financial literacy, as well as investor confidence in Rwanda, said the Capital Market Authority public relations officer, Magnifique Migisha.
Migisha said the awareness campaign also seeks to guide current and future investors to help them make informed financial decisions since a well-informed investor is a well-protected investor.
CMA has committed to carry out a number of public education initiatives meant to bridge the literacy gap. We initiated this drive targeting retail investors countrywide to facilitate an interactive and educative forum to enable up-country investors to start saving and investing through the capital market, Migisha said.
He added that the regulator undertakes several initiatives, including participating in various exhibitions, conducting the annual Capital Market University Challenge and roadshows. It has also conducted a door-to-door drive that targeted more than 6,000 potential investors across the country through various campaigns conducted over the past few years.
Speaking during the launch of the new drive, the director of business development and employment at Nyanza District, Steven Karangwa, hailed CMA for starting the awareness campaign in the district, saying there are thousands of potential investors that are ready to start investing in shares of firms listed on the capital market and government bonds.
Karangwa said: The capital market is the right place to save and invest to ensure a bright future for the country and our families. Therefore, the district will share this message with the business community, SACCOs and individual residents so that they understand the benefits and opportunities presented by the capital market.
Migisha said the nationwide awareness campaign is aimed at addressing the prevailing low level of financial literacy among public and private investors in Rwanda, adding that the capital market offers SMEs an opportunity to raise affordable investment finance to expand their enterprises.
CMA will introduce investment clubs in different schools and public and private organisations, as well as help potential investors to open Central Securities Depository (CSD) accounts during the sensitisation programme. It will also educate the public about the capital market regulatory framework, investor rights and responsibilities, Migisha said.
The new awareness programme ends late December this year.