Rwanda Stock Exchange wins prize cross-listing of Kenya's Equity Bank

Rwanda Stock Exchange (RSE)

It might be one of the world’s tiniest stock markets, with only six listed companies, but a seventh addition has just doubled the value of the Rwanda Stock Exchange.

This week, Kenya’s mighty Equity Bank, with a market capitalisation of $2bn and 9.2m customers across the region, has cross-listed in Kigali. Backers of the exchange are cock-a-hoop.

“Cross-listing is important because it gives Rwandans an opportunity to participate in the progress of their bank,” Robert Mathu, chief executive of Rwanda’s capital markets authority, tells beyondbrics, adding that Equity turned a profit in Rwanda within three years of market entry. “It’s a sign of integration within east African markets – a lot of progress has already been made.”

Read more: Rwanda stock market wins prize listing | beyondbrics.