We are thrilled to announce that EABX Public Limited Company (EABX) has officially received regulatory approval from the Capital Markets Authority to establish and operate an over-the-counter (OTC) securities exchange.
Moreover, EABX has been granted the authority to function as an autonomous self-regulatory organization (SRO) within the country.
- Operational Milestone: The approval from the Capital Markets Authority marks a significant milestone for EABX, allowing us to operationalize the Exchange and introduce our electronic trading platform to members in Kenya.
- Regional Expansion: EABX aims to extend its operations beyond Kenya into the wider East African region soon, contributing to the growth and development of the financial markets in the region.
- National Treasury’s Reforms: EABX’s licensing aligns with the ongoing reforms in the framework of Public Debt Management, a testament to our commitment to improving national savings and enhancing the domestic debt market infrastructure.
Strategic Sponsors and Key Shareholder:
- Kenya Bankers Association (KBA): EABX is primarily sponsored by the KBA, the Exchange’s anchor shareholder. This collaboration reinforces our dedication to maintaining a reputable and professional financial services sector in Kenya.
- FSD Africa: We are grateful for the technical support provided by FSD Africa, an organization dedicated to addressing systemic challenges within Africa’s financial markets.
- Enhanced Market Infrastructure: The establishment of an OTC Securities Exchange is set to significantly enhance market infrastructure. This will broaden the domestic and international investor base as market confidence continues to grow.
- Diversification of Products: EABX will provide an OTC platform for the trading of fixed income products, including repurchase agreements (REPOs), treasury securities, commercial paper, corporate listings, and alternative assets.
- Vision 2030 Ambitions: This initiative aligns with Kenya’s Vision 2030 ambitions, positioning the country as a regional leader in financial market development.
Future Role of EABX:
- Self-Regulatory Organization (SRO): EABX will play a pivotal role as an SRO, expanding the architecture of the financial services system, modernizing supervision and market conduct, improving financial capability, and fostering EAC financial integration.
We are excited about the opportunities that lie ahead and look forward to contributing to the growth and development of the financial markets in Kenya and the East African region.
Thank you for your continued support.
Download the press release document on the link below