By GPC Reporter
The East African Community has revived its Capital Markets Sub-Committee after a seven-year break, in a move expected to accelerate efforts to integrate financial markets across the region.
The sub-committee, which last held a formal engagement in 2019, brings together chief executives and senior technical officials from securities exchanges, capital markets and securities regulatory authorities, as well as central securities depositories from EAC Partner States.
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Its revival is part of renewed efforts to strengthen regional capital markets as the bloc advances preparations for the East African Monetary Union.
The decision followed a directive by the 18th Meeting of the Sectoral Council on Finance and Economic Affairs (SCEFA) to resume the committee’s work and strengthen coordination on capital markets integration.
The commitment was made during a three-day meeting held from September 15 to 17, 2026.
Dickson Ssembuya, Director of Research and Market Development at Uganda’s Capital Markets Authority, who chaired the meeting on behalf of the authority’s chief executive officer, Josephine Okui Ossiya, said regular coordination was necessary to keep regional integration efforts on track.
“The last engagement of Chief Executives under this Sub-Committee was in 2019. Since then, integration efforts have continued, but without the regular coordination and oversight that this Committee was established to provide,” Mr Ssembuya said.
“Today’s meeting represents an important step towards restoring that collaboration and ensuring that all EAC capital markets move forward together.”
Speaking for the EAC Secretariat, Director of Planning Aime Uwase said stronger coordination among Partner States was critical as the region prepared for monetary integration.
“The resumption of the Capital Markets Sub-Committee’s activities comes at a critical time as the Community advances preparations for the East African Monetary Union,” Mr Uwase said.
He called on Partner States to maintain a shared commitment to developing capital markets that are efficient, inclusive and resilient while supporting investment and sustainable economic development.
Regional markets connectivity
The meeting endorsed updated terms of reference for the Capital Markets Sub-Committee, reaffirming its role as the main technical and policy coordination mechanism for regional capital markets integration.
The revised framework expands participation to reflect the EAC’s enlarged membership and strengthens the committee’s mandate in regulatory harmonisation, market development, product diversification and the interlinking of regional financial market infrastructure.
The sub-committee also agreed on the need to develop a comprehensive regional business requirements specification to guide the design and implementation of a capital markets connectivity framework.
The framework is intended to facilitate seamless cross-border capital market activities within the EAC, including investment across Partner States.
Members also reviewed progress made under earlier capital markets integration initiatives undertaken during the diagnostic phase for the establishment of the East African Monetary Institute (EAMI).
The meeting further received an update on development support for a follow-up phase of the initiative.
The EAC said the measures agreed at the meeting would support the development of interconnected regional capital markets infrastructure, strengthen regulatory cooperation and facilitate cross-border investment.
They are also expected to improve mobilisation of long-term capital and support the development of new regional financial products as the Community moves towards deeper financial and monetary integration.
