Kugwa kw’ibiciro ku isoko ry’imari n’imigabane biraterwa n’ibibazo by’ubukungu biriho – RSE
Isoko ry’imari n’imigabane ni ahantu hashya hataramenywa na benshi mu bihugu biri mu nzira y’iterambere abanyarwanda nabo bashishikarizwa gushorayo imari
Mu myaka ibiri ishize, usanga ibiciro by’imigabane icuruzwa ku isoko ry’imari n’imigabane ry’u Rwanda bigenda bimanuka, ubuyobozi bw’isoko ry’imari n’imigabane bukavuga ko biterwa n’imyumvire y’ababa baraguze imigabane ndetse n’ikibazo cy’ubukungu butifashe neza mu Rwanda no ku Isi muri rusange.
Duherutse kwandikika inkuru igaragaza ukuntu agaciro k’imigabane ya Bralirwa na Crystal Telecom biri kumanuka cyane ku isoko ry’Imari n’Imigabane (Yisome HANO).
Kuva isoko ry’imari n’imigabane ryatangira gukora mu 2011, agaciro k’imigabane yacuruzwagaho karazamukaga cyane kugera ubwo nk’umugabane wa Bralirwa wikubye inshuro zirenga 6, ugera ku mafaranga 860 mu 2014, uvuye ku mafaranga 136 wacurujweho ku isoko rya mbere.
Pierre Celestin Rwabukumba uyobora isoko ry’imari n’imigabane ry’u Rwanda, avuga ko muri iyi minsi isoko ririmo rirakora neza, nubwo hashize imyaka ibiri ibiciro by’imigabane bitameze neza cyane.
Kubwa Rwabukumba, isoko rihagaze neza muri rusange ngo kubera ko Ibigo biri ku isoko byose byunguka, kandi bikaba bitanga inyungu kubabiguzemo imigabane nta nkomyi.
Ati “Nubwo ibiciro by’imigabane byamanutse, ni ibiciro by’isoko (nta ngaruka ku kigo), ariko business ubwayo ihagaze neza, ibigo biri ku isoko birunguka, biratanga imirimo, birashora imari, birunguka bigatanga dividend (inyungu ku mugabane).”
Pierre Celestin Rwabukumba avuga ko impamvu ibiciro mbere byazamukaga, ari uko aribwo ibigo byari bikiza ku Isoko ry’imari n’imigabane, bityo kubera kwiranga no kwiyamamaza cyane byatumye abantu benshi bitabira kubiguramo imigabane, ibi biba no ku kigo gishya kije ku isoko, ariko nyuma y’igihe bigera aho imiterere y’Isoko ubwaryo igenda igena igiciro nyacyo cy’umugabane.
Akavuga ko kuba ubu ibiciro by’imigabane bigenda bimanuka biterwa n’ibibazo byagiye bihura nabyo, akabihuza no kuba ubukungu budahagaze neza cyane nk’uko bwari bumeze mu myaka yashize, bitari mu Rwanda gusa, kuko ngo Isoko ry’imari n’imigabane hari igihe rinagendera ku bibera n’ahandi.
Rwabukumba ati “Yego ubukungu buracyazamuka ariko ntabwo buzamuka ku kigero bwazamukagaho, ubukungu ku Isi bumeze nabi, rero ntabwo wavuga ngo isoko rizakomeza rizamuke ubukungu butameze neza.”
Avuga ko kubera ubukungu butifashe neza, abaturage bashobora kuba barimo kwikenuza imigabane bari bafite mu bigo binyuranye, bajya ku isoko kugurisha bagasanga nta muguzi ubaha amafaranga bashaka ariko kuko bakeneye amafaranga bakemera kugurisha ku giciro kiri hasi, icyo gihe raporo isohoka ku isoko igaragaza ko agaciro k’umugabane runaka kamanutse.
Ati “Ukena ufite itungo rikakugoboka, niba ufite isambu ukaba, ufite n’imigabane niyo ikorohera. Abarimo bagurisha cyane ntabwo ari ibigo byaguze imigabane, ni abaturage, akenshi umuturage arareba akarambirwa, akenshi aba yarajemo avuga ati ngiye gukira, ariko ntibatekereze ko ari ishoramari ry’igihe kirekire, uko ugenda ugura imigabane wongera iyo ufite niko n’inyungu igenda irushaho kuba nyinshi.”
Rwabukumba uyobora isoko ry’imari n’imigabane ariko avuga ko n’ikibazo cy’imitekerereze n’imyumvire y’abantu bagana Isoko ry’imari n’imigabane ikwiye guhinduka kuko baba babifata nk’ikintu aguze ndetse azagurisha ejo cyangwa ejobundi.
Ati “Iyo myumvire mibi cyane, kubera iki watekereza kugurisha imigabane yawe ufite muri Bralirwa, umuzungu amaze imyaka 56 i Kigali adashaka kuhava? Ubundi aho kurwanira kugurisha imigabane ufite muri Bralirwa wakarwaniye kongera imigabane ufite muri Bralirwa kuko ni ikigo kitazigera gihomba.”
Impuguke mu bukungu zo zibibona gute?
Impuguke mu by’ubukungu Teddy Kaberuka, we avuga ko ibibazo by’imanuka ry’ibiciro ku isoko ry’imari n’imigabane bidakwiye kureberwa ku baguzi n’abagurisha gusa, ahubwo ko hakenewe gutanga inyigisho ku mpande zose.
Avuga ko hakwiye kuba ubukangurambaga no guhindura imikorere, ibigo biri ku isoko n’ubuyobozi bw’Isoko (Capital Market Authority) bagatangira kwigisha abantu uko isoko rikora.
Ati “Hari icyo twita ‘market value’ agaciro ku isko gaterwa n’abaje kugura n’abagurisha; Na Net value of Shareholders Equity, ni ukuvuga Agaciro k’umugabane ukurikije umutungo bwite w’ikigo.”
Kaberuka avuga ko ari ngombwa ko ibigo biri ku isoko bigaragaza raporo y’ubukungu bwabyo “financial statement”, bigaragaza ko umutungo bwite wa Kampani wiyongereye; Ndetse hakabaho gahunda yo gusobanurira abantu amakuru izo raporo zitanga.
Ati “Financial Statements ziratangwa ariko abantu ntibabinya n’ababimenye ntibabisobanukirwa, ntibabasha kubyisobanurira, Capital Market ikwiye kwigisha abantu abantu kuba babisoma bakabisobanukirwa.”
Indi mpamvu Teddy Kaberuka agaragaza yaba itera abantu kugurisha imigabane, ngo harimo no kuba batabona ubukire batekerezaga ko bagiye kubona, ibi bikanaca intege abandi bari kwinjiramo bakuruwe n’inyungu ababatanzemo babonye.
Aha ariko, go iri si ikosa ry’ibigo biri ku isoko ahubwo biterwa n’imigabane umuntu yaguze mu kigo, kuko uko ugira imigabane myinshi ariko uhabwa inyungu ku migabane (dividend) nyinshi, agasaba abantu ko niba bashoye mu migabane baharanira kuyongera.
Soma inkuru bifitanye isano: Kuki imigabane ya BRALIRWA na Crystal Telecom iri gutakaza agaciro ku isoko?
Vénuste KAMANZI
UM– USEKE.RW
English
5 Comments
Erega ntibyoroshye bavandi.KO na Leta se imaze iminsi yarashyize ku isoko Bons du tresor. Byaragonganye nyine bituma ibiciro bigwa.
Ikigaragara ni uko mu bukungu bwacu hashora kuba harimo ikibazo, nonese niba urwego rw’ubuhinzi rurira, abashinzwe amadevize mu kigega cya Leta bakarira, umuturage akarira, umukozi akarira, umushomeri akarira, Ikigo cy’Imari n’imigabane nacyo kikaba kirira ngo ubukungu bwatumye bidogera, murumva…..?
Ibintibyumvikana mugihugu ubukungu byiyongeraho 7% murimwaka. kereka niba aribyabindi bita tekinike
Kandi numvise uyu muyobozi yongeye gutaka ibyiza biri mugushyira amafaranga yawe mumigabane? nababwiriki.
ibyo uyu mugabo avuga harimo ibinyoma, cyangwa se arerekana ibinyoma biri ahandi hari ibinyoma byinshi cyane cyane mu itangazwa ry’ uko ubukungu bwifashe. mundeke mbasobanurire uko bimeze.
– U rwanda umwaka ushize ubukungu bwazamutseho 6.5%, tubwirwa ko secteur y’ ubuhinzi yazamutse, ko ibiva muri service byazamutse, MICE ariho leta yizeye amadevise nayo irimo kuzamuka,icyayi n’ ikawa ibiciro birimo kuzamuka kimwe n’ umusaruro icyagabanutse ni amabuye y’ agaciro, ibi rero ntago bihagije ngo ubukungu bugwe kereka iyo hari icyo bita foundamental structure errors ziterwa no kuba ubukungu bwarahanitswe ku bushake(overestimation of the economy– urugero mwafata hano ni nka grece ariko ikigoye grece ni uko irim muri euro bityo ikaba idacontrola ibyo bita exchange market naho ubundi ibibazo byabo byakoroha). ubundi rero stock market igira aba investisseur b’ ubwoko bubiri, hari abo twita institutional investor hamwe n’ abakire cyane abangaba bagira amafr menshi kandi baba bafite amakuru ya nyayo cyangwa se bafite ukuntu bamenya amakuru ku buryo bworoshye. abandi ni small investors cyangwa se abantu ku giti cyabo, urebye valeurs ya stock market yacu, wabona ko institutional investors bashobora kuba atari benshi, impamvu mbivuga ni iyo urebye amafr ahacururizwa ni gake wabona exchange ya miliyoni ijana ou plus. Kuba rero ibiciro bigabanuka nta bantu bagurishije imigabane benshi bituma mvuga ko ikibazo kiri ahandi hantu. Impamvu mbivuga ni uko Bralirwa na MTN ni amasosiyete yunguka, kandi agaha inyungu abayashoyemo imari(dividend), ibi rero n=byerekana ko ikibazo kiri ahandi, either muri economy en general cyangwa mu mategeko. numvaga mfite byinshi byo kwandika, umuseke unkundiye nazabandikira analyse irambuye nkanagira inama abafite amafr mu isoko ry’ imari
Comments are closed.