Rwanda’s Diaspora Community to Invest in Local Stock Market

Members of the diaspora community visited the Rwanda Stock Exchange (RSE) last week to learn more about how they can invest on local capital market.

Just before then, the diaspora community were urged to take advantage of the huge opportunities presented by the RSE to invest some of their money to boost the local economy and save.

Under their umbrella organisation, Rwanda Diaspora Global Network (RDGN) headed by Alice Kabagire Cyusa, the diaspora community plan to open investment accounts with Rwanda Stock Exchange this year through which they will make investments back home.

The decision, reached following a homecoming forum earlier last month, is aimed at jointly increasing their investments in the country.

The Diaspora associations, made up of more than 37,000 members, aims at going beyond individual remittances made in support of their families to having impactful ventures that would contribute to the government’s goal of reducing poverty and further transform the economy.

Speaking to The New Times, Nobert Haguma, the vice chairperson of RDGN, said they would capitalise on the existing cohesion of the various Diaspora chapters to jointly make impactful investments in the country.

He said, previously, the majority of investments by Rwandans abroad were made individually.

Part of the reason for this, he noted, was lack of adequate information on investment opportunities and incentives for Diaspora-based Rwandans.

According to the National Bank of Rwanda statistics, the Rwandan diaspora remitted over $174 million in 2014.

Source: New Times Rwanda

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