In a significant stride towards financial integration, the East African Securities Exchanges Association (EASEA) introduced the East African Exchanges (EAE) 20 Share Index on April 12. Covering exchanges in Kenya, Uganda, Tanzania, and Rwanda, this regional stock index consolidates the performance of 20 top-listed firms, providing investors with a unified benchmark for navigating the dynamic East African economic bloc. With the EAC boasting a population exceeding 300 million and a GDP surpassing $300 billion, the index launch aims to bolster cross-border investment, enhance market liquidity, and fortify regulatory alignment, fostering greater investor confidence across the region.
The EAE 20 Share Index stands out as Anglophone Africa's pioneering multi-jurisdictional stock index, bridging independent national exchanges operating under diverse currencies, legal frameworks, and trading systems. Unlike centralized models like BRVM, it represents a voluntary, market-driven integration across sovereign markets, a significant achievement noted by FSD Africa, which supported the initiative with technical and advisory expertise. In contrast, Southern Africa's efforts through SADC have yet to materialize a functional regional index, despite ongoing collaboration among CoSSE member exchanges.
East Africa debuts EAE 20 Share Index, linking Kenya, Tanzania, Uganda, and Rwanda in a milestone for regional investment and integration.
East Africa Launches First Cross-Border Stock Index
NAIROBI, Kenya – April 12, 2025 — In a historic step toward regional capital market integration, the East African Securities Exchanges Association (EASEA) has launched the East African Exchanges (EAE) 20 Share Index, marking East Africa’s first cross-border stock index.
The EAE 20 brings together top 20 listed companies from Kenya, Uganda, Tanzania, and Rwanda, offering a unified benchmark to measure the region’s equity market performance.
With over 300 million people and a combined GDP exceeding $300 billion, the East African Community (EAC) is one of Africa’s most promising investment frontiers. The index aims to:
Enhance cross-border investment and liquidity
Promote regulatory alignment
Increase visibility of East African firms to global investors
“This index is a significant milestone for integrating East Africa’s capital markets,” said Frank Mwiti, CEO of the Nairobi Securities Exchange (NSE).
📈 Composition and Features of the EAE 20
The EAE 20 Share Index includes companies from key sectors like:
Banking and Finance
Telecommunications
Manufacturing and Consumer Goods
Construction and Real Estate
Eligibility requirements include:
Minimum market capitalization
High liquidity
Proven profitability over three years
The index is calculated in local currencies and USD, ensuring accessibility for both regional and international investors.
“This will be a catalyst for creating regional ETFs and derivatives,” said Celestin Rwabukumba, CEO of the Rwanda Stock Exchange and current EASEA Chair.
🤝 Backed by Development Partners
The index was developed over two years through technical collaboration between the four national exchanges, with support from:
✅ Attract institutional investors through diversification ✅ Boost cross-listing of shares across the region ✅ Lay the foundation for regional ETFs and mutual funds ✅ Advance EAC’s monetary and financial union objectives
“This is not just a market product—it’s a policy signal for deeper integration,” said Paul Bwiso, CEO of the Uganda Securities Exchange.
🛤️ What’s Next?
Plans are already underway to expand the index to include Burundi and South Sudan, once their capital markets meet minimum criteria for:
