Rwanda’s Capital Markets Authority (CMA) has signed a Memorandum of Understanding (MoU) with Nigeria’s Africa Prudential Plc, aimed at developing the capital markets sector, improving services for investors, and adopting modern technology in the industry.
As the official statement put it: “Rwanda’s Capital Markets Authority (CMA) and Nigeria’s Africa Prudential Plc signed a Memorandum of Understanding to cooperate on capital markets development, investor services and market technology.”
“The agreement covers registrar services, securities administration, investor identification, data management, professional development and the use of digital systems to improve the delivery of capital markets services,” the statement said.
CMA Rwanda’s Chief Executive Officer, Romeo Ngarambe, said working with experienced institutions from across the continent will help Rwanda draw on their expertise as it continues developing its capital markets and improving services for investors.
“Cooperation with experienced African market institutions would help Rwanda draw on practical lessons as it develops its capital markets and improves services for investors,”he said.
Managing Director and CEO of Africa Prudential, Dr. Catherine Nwosu, said the partnership underscores the value of cooperation between financial institutions, knowledge-sharing, and the use of technology in improving the services offered to investors and shareholders across Africa’s capital markets.
“The partnership reflects the value of institutional cooperation, technology and knowledge sharing in improving investor and shareholder services across African capital markets,” she said.
Under the MoU, Africa Prudential will share its expertise in registrar services and the use of modern technology in capital markets with CMA Rwanda. Both institutions will also collaborate on knowledge exchange and building staff capacity in the sector.
The agreement follows a study visit CMA Rwanda’s delegation made to Nigeria in June, led by CEO Romeo Ngarambe, during which they visited Africa Prudential to learn from its experience delivering digital investor services, including virtual shareholder meetings, electronic voting, investor record management, and mobile-based investment tracking.
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