Capacity building to drive growth in Rwanda’s Capital Market

Launched in partnership with the Chartered Institute for Securities & Investment (CISI), the initiative provides a structured route for both new entrants and experienced professionals to gain industry-recognised qualifications and meet regulatory requirements.

At the centre of the initiative is the Rwanda Market Licensing Pathway, a three-level programme designed to ensure competence, ethical conduct, and alignment with international best practices. The pathway integrates foundational market knowledge, a Rwanda-specific regulatory module, and specialised technical units based on job roles in Rwanda’s capital market industry.

This move follows the recent issuance of a CMA Circular on Market Certification and Competency Standards, dated 6 August, which formally sets expectations for licensed capital market entities. The circular also embeds Continuing Professional Development (CPD) as a mandatory component for maintaining professional licensing and ensuring that market participants remain up to date in a fast-evolving industry.

The Chief Executive Officer of the Capital Market Authority, Thapelo Tsheole, noted the critical role of skills development in sustaining sector growth. “Rwanda’s market will grow as fast as its skills base. This pathway gives professionals a roadmap clear standards, credible certification, and ongoing development so competence is built and maintained. It aligns with global practice while reflecting Rwanda’s rules and market realities.”

Abbie Cornish, International Development Executive at CISI, also highlighted the importance of structured training and lifelong learning. “The licensing pathway clarifies what ‘good’ looks like at each stage from entry level through to specialist roles. CPD then keeps skills current, which is essential for investor protection and market confidence. CISI membership adds recognised credentials, learning resources, and a professional network to support long-term careers.”

The webinar held on Thursday introduced the programme focused on key elements of the pathway, including entry requirements, examination structure, and the integration of CPD into performance management systems. Participants were also introduced to the benefits of CISI membership, which grants access to a wide range of resources, including ethics and conduct modules, study materials, and global professional networks.

This capacity-building drive comes at a time when Rwanda is accelerating efforts to position itself as a regional financial hub. The country’s financial authorities have made significant strides in strengthening regulatory frameworks, introducing new financial products, and encouraging retail participation.

As Rwanda’s capital market continues to evolve, initiatives such as the CMA–CISI licensing pathway are expected to play a foundational role in building trust, improving efficiency, and attracting both local and international investors.