The East Africa Securities Regulatory Association (EASRA) meeting in Gisenyi has resolved to fast track the adoption of the East African Community (EAC) common market protocol that will take effect from July 1, 2010.
Among the key priorities of the EAC common market protocol is the free movement of goods and services and the regionalization of the markets.
“The regionalization of the capital markets is in accordance with the common market protocol since it would enable operations of market players across the region,” said Olivier Kamanzi, the Deputy Executive Director of Rwanda Capital Market Advisory Council CMAC).
The EAC securities regulators were also seeking to adopt the EASRA certification programme for training and examining of the professionals in the securities markets.
Kamanzi also added that the objective for this meeting was to forge the integration of the capital markets in the EAC and create a conducive business environment that allows access to finance.
“With free movement of goods and services, regional businesses will invest in Rwanda,” said kamanzi.
The harmonization will also avail Rwandans with the benefits of having more long-term products to invest with high return which will promote the savings culture, a fundamental factor to the development of Rwanda’s capital markets and economic growth.