The Capital Markets Authority Rwanda (CMA) took part in the Inclusive FinTech Forum 2026, where its Head of Market Development, Ngabonziza Karekezi joined a roundtable on real-world asset (RWA) tokenisation in emerging markets and developing economies (EMDEs) and the regulatory approaches needed to support its development.
During the discussion, Karekezi said clear rules, investor protection and market confidence are necessary to ensure tokenisation supports the orderly development of the capital market.
He said that while tokenisation may widen access to investment products and improve market efficiency, its expansion must be guided by a credible and properly structured regulatory framework. He added that sound regulation is needed to protect investors, preserve market integrity and ensure innovation progresses in a responsible and sustainable way.
Karekezi also set out Rwanda’s ambition to position Kigali as a tokenisation hub in Africa, building on CMA’s early regulatory progress in the area. He said the Authority plans to build on this position through a clear licensing framework, an active regulatory sandbox programme, close inter-agency coordination, and continued engagement with regional and international standard-setters.
He said the foundations for this work are already being established and that Rwanda has an opportunity to take an early position in shaping tokenisation development on the continent.
The Inclusive FinTech Forum 2026 brought together policymakers, regulators, innovators and market participants from across the world to discuss the future of financial technology and inclusive finance. CMA’s participation reflects its broader work to support responsible innovation and reinforce Rwanda’s capital market ecosystem.