KIGALI — The Rwanda Stock Exchange hosted its Exchange Listing Forum 2026 on Wednesday, bringing together entrepreneurs, investors, policymakers, and regulators under the theme “Capital Market Connect: Preparing Businesses for Success.” The central message was simple: Rwanda’s capital markets are open to every company, regardless of size. The forum, which doubles as the eighth edition of the RSE’s annual Investment Clinic, is designed to close the gap between where many Rwandan businesses currently stand and what capital markets actually require. RSE CEO Celestine Rwabukumba set the tone from the outset. “Capital markets are not just an alternative — they are a powerful tool for empowering businesses, unlocking investment, and driving economic transformation,” he said. Antoine Kajangwe, Permanent Secretary at the Ministry of Trade and Industry, reinforced that listing on the RSE goes beyond fundraising. “Listing on the Rwanda Stock Exchange is not only a way to raise capital, but also a means to improve transparency, strengthen governance, and increase visibility for companies seeking sustainable growth,” he said.

Bridging the Gap

A recurring theme was how far many SMEs still are from being investment-ready and how fixable those gaps are. Capital market consultant Hesse Ivy explained that the barriers most companies face are structural rather than fundamental. “Accessing capital markets is not just a transaction but a long-term process that connects businesses to sustainable funding and growth opportunities,” she said. The Investment Clinic walks companies through improving financial reporting, governance, and legal compliance. Leatitia Teta Nzungize, an associate at Trinity Lawyers, described her firm’s work with early-stage companies at the forum. “Our role is first to tell them what gaps they have, and second, to educate them. When young companies get a lot of money early on, they can be overwhelmed, so we help ensure they understand all of the legal requirements as they grow,” She said.

Entrepreneurs Speak

Deexon Muhizi, founder of IGiTREE — a genomics company working across human and animal DNA — spent nearly four years self-funding before finding his way to the clinic. He described the experience as transformative beyond the fundraising dimension alone. “This clinic helps young companies understand not just how to access funds, but how to use them wisely to sustain and grow their business,” he said, speaking to CABN on the sidelines of the forum.

Carl Mabuka, Head of Business and AI at Global Kwik Koders — a software firm working with Rwanda’s Ministries of Education and Health — was equally candid about what the day taught him. “No one’s going to give you their money just because you believe in your dream. We’ve learned today that there’s a checklist of things that you must have for you to be trustworthy, and we intend to be that in less than a year,” he told CABN.

Mooketsi Bennedict Tekere, founder of Pula Space Capital — a $10 million VC fund registered in Kigali under the Kigali International Financial Centre — described Rwanda as the most compelling destination for fund placement on the continent and saw the forum’s graduates as immediately exportable to regional markets. “The barriers themselves are the opportunity. Young people have the highest advantage,” he said.

Proof of Concept

The RSE’s NextGenQ private market section now lists six companies, four of which have already raised capital from the market. Rwabukumba pointed to those examples as the clearest evidence that the model works. “We have confidence that people who have come for this forum are going to benefit and they are going to join the market very soon,” he said. The forum closed with a message that extended beyond the RSE itself. The capital markets ecosystem, Rwabukumba noted, is not a single institution — it is regulators, policymakers, intermediaries, and investors all working in the same direction. The Investment Clinic exists to make sure businesses are ready when the opportunity arrives.