EAC Moves to Fast-Track Regional Capital Markets Integration
The East African Community (EAC) has officially reactivated the Capital Markets Sub-Committee, operating under the Capital Markets, Insurance and Pensions Committee (CMIPC). This strategic move ends a seven-year gap in formal coordination and paves the way for the accelerated implementation of regional capital markets integration initiatives. These efforts are crucial preparation steps toward the eventual establishment of the East African Monetary Union.
The commitment to resume work was solidified during a three-day meeting held from September 15th to 17th, 2026. The high-level gathering brought together Chief Executive Officers and senior technical representatives from Securities Exchanges, Capital Markets, Securities Regulatory Authorities, and Central Securities Depositories across all EAC Partner States.
Resuming Coordination After a Seven-Year Pause The September summit marked the first formal engagement of the Sub-Committee since 2019. Its reactivation follows a direct mandate from the 18th Meeting of the Sectoral Council on Finance and Economic Affairs (SCEFA) to strengthen cross-border market coordination.
Chairing the meeting on behalf of Josephine Okui Ossiya, CEO of the Capital Markets Authority Uganda, Director of Research and Market Development Dickson Ssembuya emphasized that resuming the Committee’s work is vital for synchronizing regional capital markets integration. While individual integration efforts continued over the past few years, the lack of centralized oversight limited broader structural progress.
EAC officials further noted that robust coordination among regional institutions is essential for building efficient, resilient financial markets capable of mobilizing investment and driving sustainable economic development across East Africa.
Key Outcomes and Future Directives The primary outcome of the meeting was the endorsement of updated Terms of Reference for the Capital Markets Sub-Committee. The revised framework accomplishes the following:
- Broadens participation to accurately reflect the expanded membership of the EAC.
- Strengthens the Sub-Committee’s mandate regarding regulatory harmonization and market development.
- Focuses on product diversification and the interlinking of regional financial market infrastructures.
Furthermore, the attendees recognized the immediate need to develop a comprehensive regional business requirements specification. This will guide the design and implementation of a seamless connectivity framework necessary for total regional capital markets integration.
The Sub-Committee also reviewed past progress made during the diagnostic stage for the establishment of the East African Monetary Institute (EAMI), ensuring that upcoming regulatory cooperation will facilitate cross-border investments and support the region’s readiness for deeper monetary unity.
