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Rwanda to hold Africa's major bourses meeting

Xinhua, November 22, 2016 Adjust font size:

Experts in global and regional capital markets are set to gather for their flagship Africa securities exchanges conference in Rwandan capital Kigali next week, organizers have confirmed.

Rwanda will host the 20th African Securities Exchanges Association (ASEA) annual conference from Nov. 27-29 dubbed: "The Road to 2030: Making the African Capital Markets Relevant to the real economy".

Speaking to reporters on Tuesday, Celestin Rwabukumba, chief executive of Rwanda Stock Exchange (RSE), said the annual conference targets to position itself as having one of Africa's most vibrant securities exchanges.

"The meeting will offer an opportunity to African emerging stock markets to demonstrate how much can be achieved by integrating regional securities markets. Africa's capital markets are stable, and their market potential is huge and growing," he noted.

Rwabukumba stated that the gathering will also mark Rwanda Stock Exchange's 5th anniversary.

Organizers say the forum will bring together more than 300 global and regional experts and stakeholders in capital markets, regulators, law firms and issuers, investors, rating agencies, portfolio and investment managers and government representatives.

Bourse analysts believe that capital markets should be the key channel for the massive investment to drive Africa's economic growth over the next 20-30 years, including finance for business, infrastructure, social and development gains.

African financial markets are dominated by banks, but capital markets are slowly developing and are beginning to play an increasingly vital role in strengthening African economies.

According to African Development Bank (AfDB), bond markets in Africa remain largely underdeveloped, with corporate bond markets non-existent or in their infancy.

However, as Africa's capital markets continue to mature, governments across the continent need to maintain economic stability and transparent governance, in order to boost investor's confidence.

The association, formed in 1993, aims at developing member exchanges through provision of a platform over which exchange of information is carried out.

The 19th African Securities Exchanges Association annual summit was held in Johannesburg, South Africa, last year. Endit