The Capital Market Authority of Rwanda (CMA) has appointed Karekezi Ngabonziza (Eric) as its Acting Chief Executive Officer, effective 7 January 2026.
He replaces Thapelo Tsheole, who had served as the Authority’s Chief Executive Officer for two years since 2024.
In an official statement, CMA said Karekezi will steer the institution through a transition period while ensuring continuity in the implementation of key strategic priorities.
The Authority noted that his leadership will focus on advancing CMA’s long-term objectives aimed at strengthening a transparent, efficient, and inclusive capital market in Rwanda.
Karekezi brings more than two decades of experience in the financial sector, spanning both international financial institutions and public-sector roles. He is widely regarded as a seasoned capital markets professional with deep expertise in financial systems and investment development.
His professional background includes senior roles at global financial institutions such as J.P. Morgan, HSBC, BNP Paribas, and UBS, where he built strong experience in capital markets operations, investment banking, and financial regulation.
Before his appointment as Acting CEO, Karekezi served as Director of Capital Market Development at CMA, where he led initiatives to expand market participation, attract diverse categories of investors, and enhance capital mobilization to support private-sector growth.
Prior to joining CMA, he worked as a Technical Advisor in the Office of the Deputy Governor of the National Bank of Rwanda (NBR), contributing to policy development and financial sector reforms.
Karekezi holds two Master’s degrees, one from the Solvay Brussels School of Economics and Management and another from Coventry University.
