In a significant move for the region’s financial markets, the East African Securities Exchanges Association (EASEA) has unveiled the East Africa Exchanges (EAE) 20 Share Index. This new index is designed to track the performance of top companies listed on stock exchanges across East Africa, including key players from Kenya, Tanzania, Uganda, and Rwanda. The initiative aims to provide a unified benchmark, fostering greater cross-border investment and improving market transparency.

The EAE 20 Share Index includes leading firms from a range of sectors, such as telecommunications, banking, and manufacturing, offering investors a more streamlined and comprehensive view of the region’s corporate landscape. According to Business Today Kenya, the companies featured in the index represent a cross-section of East Africa’s diverse economies, from mobile service providers and financial institutions to breweries and cement manufacturers.

Frank Mwiti, CEO of the Nairobi Securities Exchange, called the launch of the EAE 20 Share Index “a significant milestone in the integration of East African capital markets.” The initiative is expected to attract regional and international investors, encouraging portfolio diversification and promoting the development of exchange-traded funds and other financial products tied to the index.

This step is also part of a larger strategy to make East Africa’s stock exchanges more competitive on the global stage. By harmonizing market operations and promoting deeper integration, the EAE 20 Share Index will play a critical role in the region’s efforts to enhance economic cooperation under the East African Community (EAC).

Source: Business Today Africa