The Rwanda Capital Markets Authority (CMA) published an update on reforms, technology initiatives and investor outreach undertaken in 2025, positioning these measures as steps to improve the efficiency and inclusiveness of the market and strengthen investor confidence. The update highlights amendments to the Central Securities Depository law intended to improve settlement systems, final regulations governing collective investment schemes, and a draft law to regulate virtual assets. A broader legal review is also under way to align Rwanda’s market framework with International Organization of Securities Commissions (IOSCO) standards. Alongside the policy work, investor education campaigns were rolled out across the City of Kigali and all four provinces, fintech firms piloted solutions through CMA’s regulatory sandbox, and the Authority digitised licensing, regulatory filings and risk-based supervision to reduce paperwork and improve turnaround times for market participants. The Investment Clinic continues to support small and medium-sized enterprises in understanding how to raise capital through the capital market. CMA also signalled that new investment options are in development, including real estate investment trusts, exchange-traded funds and sustainability-linked bonds.

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