Tanzania, Rwanda and Uganda are proceeding with plans to electronically interlink their respective stock exchanges, leaving out the Nairobi Securities Exchange(NSE).
The three East African states intend to have a single stock market before the end of 2020 after hooking up their individual equities platform to the East African Community(EAC) Capital Markets Infrastructure (CMI) Information Technology platform.
This regional exchange is a World Bank-funded project that aims to connect regional stock markets virtually.
Equity investors in Tanzania, Uganda, and Rwanda, will be able to trade shares of any firm listed in any of these countries without going through different stockbrokers.
This regional stock exchange projects have been on the back burners for the past five years due to payment dispute with the software provider as well as technical issues between the common platform and trading systems of participating countries.
These teething issues have since been sorted with launch of the integrated platform set for launch by December, 2020.
InfoTech Private Limited, a Pakistan-based IT firm, has been contracted to provide software to these single trading platform, which will execute transactions in real-time.
