The Rwanda’s Capital Market Authority (CMA) advised young people from across Western Province to work hard and embrace the saving culture through investing in the local capital market.
This was revealed on Tuesday during an awarding ceremony of best young innovators in the Western Province dubbed YouthConnekt Awards organized by the Ministry of Youth in collaboration with various partners.
One of the statutory objectives of the Capital Market Authority is to promote and develop the capital market industry in Rwanda. Investor education is one of the ways of attaining this goal.
The Permanent Secretary in the Ministry of Youth, Emmanuel Bigenimana addressing young people told them to be business oriented by embracing the saving culture to ensure a better future for themselves and the country as well.
He noted that “Don’t assume that you will start saving when you get excess money for the reason that you will not get it. Saving is about adjusting your expenses and avoid spending it on needless things.”
CMA initiated a national public education programme to facilitate an interactive and educational forum to enable the general public understand the benefits of savings and investing through the capital market.
The Public Relations Officer at CMA, Magnifique Migisha reiterated that young people are able to contribute to the country’s development efforts by saving and investing through the local capital market.
He stressed that “CMA is committed to build a financially literate generation and help them navigate the future through effective savings and investments through capital market. At CMA we educate the public about the culture of saving and investment because a well-informed investor is a well-protected investor.”
Claude Mutabazi, a young innovator from Karongi District who owns a poultry business said that “I really understand now the benefits of saving and investing in the stock market as it pays back in the future so that we can be able to grow our businesses easily.”
CMA has committed to carry out a number of public education initiatives meant to bridge the financial literacy gap, and they initiated various drives targeting people from all walks of life countrywide to facilitate an interactive and educative forum to enable up-country investors to start saving and investing through the capital market.