EAX Rwanda : Rwanda to host the East African Stock Exchange
31/01/2013
The newly created East Africa Exchange, currently taking its first steps in Rwanda, is part of a regional integration project between Burundi, Kenya, Tanzania and Uganda that aims to boost liquidity and provide a commodities market for 130 million people across the region.
EAX Rwanda is the first part of the regional exchange, which will focus initially on establishing an auction facility and spot trading for agriculture and non-agricultural commodities. Once that is done, it will work on developing futures trading across East Africa between the five countries, which are all members of regional government association the East Africa Community.
The project’s goals include reducing market barriers to trading, as well as generating a transparent regional economy that can help provide financing to farmers and traders. The investors in the exchange are Berggruen Holdings, which is part of Germany’s Nicolas Berggruen Charitable Trust, together with African investment company Heirs Holdings, 50 Ventures and Rwandan technology and engineering company Ngali Holdings.
(SOURCE : FINANCIAL TECHNOLOGY AFRICA : HERE)
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