Browsing: Capital Markets Infrastructure (CMI)

Rwanda, Uganda and Tanzania single stock market

Rwanda, Uganda and Tanzania have joined forces to connect stock markets electronically.

The project which is funded by world bank means that the three countries will operate a single market with a view of reducing the cost and time of trading in shares of companies listed on markets across the borders.

The three states are to start trading before the end of this year after interconnecting their trading systems and hooking it to the EAC Capital Markets Infrastructure (CMI) Information Technology platform.

With this new singe stock market, investors in the three states will buy and sell shares of companies listed in any of the countries without going through different stockbrokers.

Taking 3.28 per cent of the value of the transactions, Ugandan stockbrokers take the largest share of the stock trading commission not only within East Africa but in the entire African continent.

Brokerage commission on equity trading in Rwanda …