The vision to develop EABX Plc is imbedded in Kenya’s Vision 2030 to develop the capital markets and enshrined in the Capital Markets Master Plan. It is in line with this that the Project Steering Committee (PSC) composed of two commercial bank CEOs’, Chair Treasurers Association, Vice-Chair Treasurers Association, Chair ACI Kenya, Chair Bond Market Association, one independent member with support from Kenya Bankers Association (“KBA”) and Financial Sector Deepening Africa (FSD Africa) identified that the bond market is lacking in depth & liquidity, leading to inefficiencies that stifle the growth of the bond market.
The PSC sought to establish a regulated market organiser that will deepen market infrastructure while also widening the investor base by providing various investing options and products which are currently lacking. Following stakeholder engagement, various feedback was received and applied as to how the exchange should be structured. The EABX Plc (“East Africa Bond Exchange”) was incorporated on 4th March 2019 as a Public Company limited by liability.