Rwandan now heading continental securities body

Pierre-Célestin Rwabukumba, the CEO of Rwanda’s Stock Exchange (RSE), is now the President of the African Securities Exchanges Association (ASEA), the premier association of African securities exchanges that converges to develop member exchanges while promoting capital market business.

In a statement issued by ASEA, Rwabukumba replaces a  Motswana, Thapelo Tsheole, effective this month who resigned as CEO of the Botswana Stock Exchange and consequently as the president of ASEA.

ASEA was established in 1993 and works closely with member exchanges to unlock the potential of the African Capital Markets and the African economies by enhancing the visibility of its members at the international level to attract capital inflows.

“Thapelo will be succeeded by Pierre Celestin Rwabukumba, the CEO of RSE, effective 1 May 2024 for continuity. Rwabukumba joined the ASEA Executive Committee in November 2018 and was elected vice President in November 2022. His appointment marks a new chapter for ASEA, promising continued growth and collaboration within ASEA’s landscape under his stewardship,” the statement said in part.

More about Pierre Celestin Rwabukumba

Rwabukumba, a Rwandan national, is currently Chairman of the East African Securities Exchanges Association (EASEA) and CEO of the Rwanda Stock Exchange. He was the Co-founder and Chairman of Kigali Cement Company, a private company that produces, markets and sells cement in Rwanda and neighbouring countries.

He is also a non-executive in several institutions in finance and business development, hospitality and industry in Rwanda and beyond. The list includes the Securities Industry Training Institute (SITI East Africa), where he serves as Chairman, The Executive Committee of the African Securities Exchanges Umbrella Organization (ASEA), The New Faces New Voices – Rwanda and others. He is also involved in investment projects ranging from Real Estate, Poultry and Agro-processing to Energy.

Mr. Rwabukumba started his career in financial services in New York City more than a decade ago after graduating from the University of Buffalo (UB), New York, in the United States with a Bachelor’s Degree in Economics. He worked in different professional positions as a stockbroker, in Compliance and Operations and in Institutional Investors’ Sales before he joined the Central Bank of Rwanda in 2004 to help start the Capital Market Development Project. He is a seasoned negotiator who has been instrumental in negotiations on regional integration of the EAC. He has served on different Capital Market Committees at the national and regional levels, the latest being the High-Level Task Force negotiating the EAC Monetary Union.