Rwanda Stock Exchange registered higher growth in volumes shares traded and total turnover in the beginning of last week compared with a week before.

The high growth in volumes of shares traded is being driven mostly by Bank of Kigali and Bralirwa — the only counters registering transactions.

The cross-listed companies like Kenya Commercial Bank, Nation Media Group and Uchumi Supermarket have not been registering a lot of transactions in the weeks leading to the end of the year.

On Monday last week, the total turnover was Rwf97,930,500, from 319,300 BK shares and 10,100 Bralirwa shares.

Both Monday’s volumes and turnover were the highest compared with what was traded during the better part of last week.

However, share prices for most of the counters have remained stable irrespective of high demand especially for BK shares.

For example, Bralirwa share price has been trading at Rwf370 in the weeks leading to the end of year while Bank of Kigali’s share price has has been fluctuating between Rwf286 and Rwf295 while KCB, NMG and Uchumi share prices have been constant at Rwf185, Rwf1,200 and Rwf104 respectively.

Celestin Rwabukumba, chief executive of Rwanda Stock Exchange said the performance of the market this year has more than doubled compared with the target projections mainly because of the economy rebound.

“The economy has gained momentum from what it was last year and this has enabled more investors and even local retailers to have boosted activities on the market by investing,” said Mr Rwabukumba.

Although there was no new initial public offering this year, the secondary market was especially boosted by increased government borrowing through treasury bonds as and the International Finance Corporation.

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Mr Rwabukumba said the priority for 2015 will be the completion of the full automation of the market, integration of the regional markets and attracting more listings on the market.

On Tuesday last week, the market recorded a total turnover of Rwf22,638,400, from 46,200 BK shares and 25,000 Bralirwa shares.