EABX PLC (EABX), the East African regional Fixed Income Exchange, has regulatory approval from the Capital Markets Authority to establish and operate an Over-the-Counter (OTC) securities exchange.
- The approval positions EABX to boost access to capital and long-term finance, aligning with the country’s reforms aimed at enhancing debt market infrastructure for increased trading transparency and liquidity.
- EABX said in a statement that it will begin to roll out its electronic trading platform to members in Kenya initially, with plans to expand operations throughout the wider East African region in the near future.
- EABX, sponsored primarily by the Kenya Bankers Association (KBA) and with technical support from FSD Africa, plans to play a crucial role as both an OTC platform and a Self-Regulatory Organization (SRO).
“As a company, EABX acknowledges that the hard work begins now and looks forward to the opportunity to contribute
to the development and expansion of the region’s capital markets.” said Mr. Terrence Adembesa, the CEO of EABX.
Dr. Habil Olaka, CEO Kenya Bankers Association: “This marks a significant chapter in Kenya’s financial market and presents a new phase of growth and opportunity, expected to transform and deepen the market. The banking sector looks forward to sustaining its contribution to market development, fostering economic growth and creating lasting value for all stakeholders.”
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