Rwanda Over The Counter Exchange Explained

Rwanda Over The Counter Exchange
Type:Parastatal
Foundation:2008
Location:Kigali, Rwanda
Industry:Stock exchange
Successor:Rwanda Stock Exchange
Defunct:31 January 2011
Owner:Government of Rwanda

The Rwanda Over The Counter Market (ROTCE), was a stock market in Rwanda. It was founded on 31 January 2008 and operated out of Kigali, the capital city of Rwanda. The market was run by the Rwandan government, with ambitions to become independent.[1] Initially the exchange only sold bonds - one offered by the country's central bank; the National Bank of Rwanda and one by the Commercial Bank of Rwanda. Later in 2009, equities began being listed on the exchange. the listed equities on the exchange are as summarized in the table below:[2]

Market listing

SymbolCompanyNotes
1. BLRWBralirwaBrewing, Bottling
2. KCBKCB GroupFinance, Banking
3. NMGNation Media Group[3] Publishing, Printing, Broadcasting, Television

Cessation of activities and replacement

On 31 January 2011, the activities of Rwanda Over The Counter Exchange were taken over by the Rwanda Stock Exchange, whose activities are supervised by the Capital Markets Advisory Council (CMAC).[5]

See also

Notes and References

  1. News: BBC NEWS Business Rwanda opens own stock exchange. news.bbc.co.uk. 31 January 2008 . en-GB. 2017-08-30.
  2. News: Rwanda: Govt Bourse Boosted As Bralirwa IPO Gains Momentum. Gahamanyi. John. 2009-09-10. The New Times (Kigali). 2017-08-30.
  3. http://www.monitor.co.ug/Business/Commodities/-/688610/1027586/-/bte9hg/-/index.html Nation Media Group To Crosslist Effective 9 November 2010
  4. http://newvision.co.ug/D/8/220/685151 KCB Group to list on All Four EA Exchanges
  5. Web site: The New Times Rwanda. Times. The New. www.newtimes.co.rw. en. 2017-08-30.