Regulatory Alerts2024-12-21
Added · Updated
Capital Market Guidelines on Issuance of GSS+ Bonds
The Capital Market Authority of Rwanda has issued comprehensive guidelines establishing the regulatory framework for issuing Green, Social, Sustainability and other labels (GSS+) Bonds. Issuers must secure pre-issuance external reviews, publish detailed GSS+ Bond Frameworks, and allocate at least 75 percent of proceeds to eligible projects while submitting annual allocation and impact reports. The guidelines differentiate between use-of-proceeds and sustainability-linked bonds, mandate rigorous Key Performance Indicator and Sustainability Performance Target calibration for the latter, and outline the Authority’s approval process alongside trading suspension and buy-back provisions.
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