Rwanda Stock Exchange is banking on a recent hire to upgrade its operations and grow its data business. The move is also expected to help the bourse attract more regional and international investors.

The consultant, SCL Advisory Ltd, will advise the bourse on expanding its portfolio of information products and services as well as generate more value from existing and new data sets.

 “SCL Advisory Ltd will play a crucial role in strengthening our data and information client base and improve customer experience using world-class technology and wide data dissemination channels,” said Pierre Celestin Rwabukumba, RSE chief executive.

According to Mr Rwabukumba, the development and expansion of data and information services activities worldwide will cement the informed investment in line with the country’s ambition to become a financial services hub in the region.

“SCL Advisory Ltd will support the Exchange’s efforts to provide financial professionals and other end users with market data, analytics, and services in a reliable and timely manner to help them make more informed investment and business decisions on the Rwandan market,” he added.

According to a recent report from the RSE, the equity market turnover declined by 68.75 percent after recording a total turnover of Rwf4,729 million from 26.2 million shares traded in 469 deals compared with Rwf11.78 million recorded in the same period of 2018.

The 10-year old bourse currently has 10 listed companies, five of which are domestic companies and five are cross-listed companies from Kenya and South Africa and a standalone fixed income board.

“This move will also increase RSE’s visibility and awareness on Rwanda as an investment destination for regional and international investors,” Mr Rwabukumba said.