This week the Over The Counter market in Kigali, Rwanda, had no trading for at least two days. According to the Rwanda Capital Market Advisory Council (CMAC) no shares were on offer at the close of the session.
There were nearly US$3.8 million of government bonds and Banque Commercial du Rwanda bonds on offer, and some bids, but trading was also quiet.
The Rwandan OTC market was set up by the CMAC in January 2008 and, according to CMAC, it operates a dual trading process. Firstly, members trade securities directly with investors and among themselves. Secondly, open outcry trading sessions are conducted at the trading floor of the OTC market at the CMAC Secretariat every day from 9:00 a.m to 12:00 p.m.
The CMAC brochure lists eight members of the Rwandan OTC market.