Rwanda Stock Exchange Opens Multicurrency Trading Segment

AFRICAN STOCKS AND FINANCEDecember 13, 2025 at 9:15 AM UTC

TLDR

The Rwanda Stock Exchange has launched a Multicurrency Denominated Securities Market Segment, allowing securities to be issued and traded in multiple currencies
The new segment allows local and international issuers to list bonds and other securities in currencies other than the Rwandan franc
The move is designed to attract a wider pool of issuers and investors, reduce foreign-exchange constraints, and support cross-border capital flows

The Rwanda Stock Exchange has launched a Multicurrency Denominated Securities Market Segment, allowing securities to be issued and traded in multiple currencies for the first time in the country’s capital market.

The announcement was made at the 28th annual conference of the African Securities Exchanges Association held in Kigali. The event brought together exchange operators, regulators, brokers, and investors to discuss market development and regional integration.

The new segment allows local and international issuers to list bonds and other securities in currencies other than the Rwandan franc. The exchange said the move is designed to attract a wider pool of issuers and investors, reduce foreign-exchange constraints, and support cross-border capital flows.

By opening the market to multicurrency instruments, the RSE aims to make Rwanda’s capital market more accessible to regional and global investors that prefer hard-currency exposure. The exchange said the segment will operate within existing regulatory frameworks, with settlement and disclosure standards aligned to international practice.

The launch comes as African exchanges push to deepen liquidity and broaden product offerings, while positioning themselves as gateways for regional investment.

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Key Takeaways

The new multicurrency segment reflects a broader shift across African capital markets toward regional integration and investor flexibility. Many African economies rely on foreign currency funding for infrastructure and corporate expansion, but local markets have often been constrained by single-currency structures. By allowing securities to be issued in multiple currencies, the Rwanda Stock Exchange reduces currency risk for issuers and investors, especially foreign institutions that manage portfolios in dollars or euros. This can lower funding costs and make local listings more competitive with offshore markets. The move also aligns with the African Exchanges Linkage Project, which aims to connect exchanges across the continent and simplify cross-border trading. As rules and systems become more harmonised, multicurrency instruments can support smoother capital movement between markets. For Rwanda, the initiative strengthens its ambition to position Kigali as a regional financial hub. While market depth remains limited, expanding product choice is a step toward attracting more listings, improving liquidity, and integrating the country more firmly into Africa’s evolving capital-market network.

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