Regional capital markets to be more aggressive

WESTERN PROVINCE RUBAVU — There is need to develop domestic solutions in order to enhance the development of capital markets in the region, the East African Securities Exchanges Association (EASEA) has said. Speaking to reporters after a two-day meeting in Rubavu District, Jonathan Njau, the Chief Executive of the Dar es Salaam Stock Exchange, who chaired the meeting, said plans are under way aimed at increasing the capital markets within the member states. This will involve looking for more capital and supporting investors to acquire opportunities within the region and harmonisation of operations, he said. The EASEA works towards expanding a regional capital market presence as envisaged under the East African Community treaty. On the current economic recession, Njau noted that Africa was affected through falling asset values, falling market prices and drops in remittances from the Diaspora. Robert Mathu, the Executive Director, Capital Markets Advisory Council (CMAC)-Rwanda affirmed that EASEA is committed to expanding revenue for the region and reducing the cost of doing business. Ends