Kigali, Rwanda – The Capital Market Authority (CMA) Rwanda recently appointed Eric Ngabonziza Karekezi as its Acting Chief Executive Officer, a move aimed at ensuring leadership continuity as the Board proceeds with the process of selecting a substantive CEO.
The appointment took immediate effect and placed a seasoned finance professional at the helm of the country’s capital market regulator during a critical transition period.
In his new role, Karekezi is expected to steer the Authority while maintaining momentum on CMA’s strategic priorities, particularly efforts to build a transparent, well-functioning, and resilient capital market that supports Rwanda’s broader economic ambitions.
The CMA Board said it has full confidence in his leadership abilities and reaffirmed its trust in the professionalism and commitment of the Authority’s staff to sustain strong institutional performance.
Karekezi brings more than two decades of experience spanning global financial institutions and public-sector leadership. Before his appointment as acting CEO, Karekezi served as Head of Market development at CMA.
His career includes senior roles at some of the world’s leading banks, including J.P. Morgan, HSBC, BNP Paribas, and UBS, where he built deep expertise in market infrastructure, securities services, custody operations, innovative financing, and digital finance.
In his previous role, he led key initiatives aimed at strengthening the institutional foundations of Rwanda’s capital market and improving the flow of capital toward productive investment opportunities.
His work focused on enhancing market depth, investor confidence, and long-term sustainability. Prior to joining CMA, Karekezi worked as a Technical advisor in the Office of the Deputy Governor at the National Bank of Rwanda.
There, he supported major digital transformation and market development priorities, including work on the Central Bank Digital Currency and the country’s broader digital finance strategy.
His international exposure also includes roles at UBS Luxembourg, BNP Paribas Securities Services, and HSBC Securities Services, as well as participation in a regional innovative-financing program with the European Commission in partnership with COMESA, the EAC, IGAD, and Indian Ocean Commission member states.
Karekezi holds an Executive Master’s degree in Management from Solvay Brussels School of Economics and Management and a Master’s degree in Marketing from Coventry University.
He has also completed executive programs in open banking and finance for regulators at Cambridge Judge Business School and in FinTech at the National University of Singapore.
As acting CEO, Karekezi steps into leadership at a time when Rwanda’s capital market is seeking deeper participation, stronger regulation, and greater innovation, areas where his blend of global banking experience and public-sector insight is expected to play a pivotal role.
Karekezi replaces Thapelo Tsheole, who had led the authority since 2024.
