Rwanda’s Capital Market Authority Issues Guidelines for Issuance of Green, Social, Sustainability, and other Labels (GSS+) Bonds
Rwanda’s Capital Market Authority (CMA) has introduced new guidelines to bolster the credibility of its sustainable bond market and curb greenwashing, reinforcing the country’s commitment to responsible finance.
These regulations, now mandatory for all public bond listings on the Rwanda Stock Exchange, align with international standards such as the Green Bond Principles and the Climate Bonds Initiative’s criteria. By enhancing transparency and accountability, the initiative aims to make Rwandan sustainable securities more attractive to global investors seeking credible, high-impact opportunities.
CMA chief executive Thapelo Tsheole emphasized the importance of creating “securities that are internationally credible, replicable, and attractive to global investors.”
The guidelines complement Rwanda’s broader sustainability agenda, including the National Bank of Rwanda’s green taxonomy and the stock exchange’s ESG banking framework. As the country positions itself as a leader in sustainable finance, the move is expected to drive responsible investment flows, deepen the local green finance ecosystem, and set a precedent for emerging markets looking to develop their own sustainable finance frameworks.
