East African countries to integrate securities markets

Source: Xinhua| 2021-10-15 00:35:13|Editor: huaxia
Video PlayerClose

NAIROBI, Oct. 14 (Xinhua) -- East African countries are working to integrate their securities exchange to boost trading and give investors a wider market, an industry official said on Thursday.

Geoffrey Odundo, the chief executive of the Nairobi Securities Exchange (NSE), said that Kenya, Uganda and Tanzania will soon unveil a digital platform that will link the three securities markets.

"The big picture is that one would be able to trade all kinds of securities in Kenya, Uganda and Tanzania seamlessly," he said in Nairobi during a forum with stockbrokers.

He observed that this would build on the cross-listing of stocks that has been happening for years at the markets.

Odundo said Rwanda, which has a vibrant stock market, will also collaborate with those countries.

Through the platform, investors will be able to open accounts and buy and sell shares at the click of a button.

Odundo said NSE is working on product diversification, especially commodity futures. Enditem

KEY WORDS: Kenya,Finance