Paul Bwiso, the Chief Executive Officer of the Uganda Securities Exchange (USE), has been appointed the new Chairman of the East African Securities Exchanges Association (EASEA), following the association’s 34th consultative meeting held at the Dar es Salaam Stock Exchange (DSE) from March 19–21, 2025.
The meeting brought together regional capital markets leaders including Mr. Pierre Celestin Rwabukumba, CEO of the Rwanda Stock Exchange and Chairman of the African Securities Exchanges Association (ASEA); Mr. Frank Mwiti, CEO of the Nairobi Securities Exchange (NSE); Mr. Peter Nalitolela, CEO of the Dar-es-Salaam Stock Exchange; Mr. Hassan Dudde, CEO of the Somali Stock Exchange; and Mr. Mohammed Abukar, CEO of the National Securities Exchange of Somalia (NSES), alongside technical experts.
Accepting his new role, Mr. Paul Bwiso said: “He will build on the strong foundation that has been established by his predecessor to drive the regional integration agenda as envisioned in the EAC Common Market Protocol. As such the region will be developing products that are aligned to the integration agenda, starting with a regional Index that was launched on Friday 21st March 2025.”
Leadership Transition and Strategic Vision
Outgoing Chairman Mr. Pierre Celestin Rwabukumba used the occasion to stress the role of technology in deepening market access and regional integration:
“EASEA members should continue to proactively embrace technology as an enabler to cross border trading.” He added: “As we come to the completion of Phase 1 of the project, the second phase, Phase 2 of this project, will bring on board the new additional markets being formed and those of the future from the EAC member states and beyond.”
This transition marks a critical juncture for EASEA as it advances its flagship Capital Markets Infrastructure (CMI) Project—a cross-border technology platform designed to link capital markets across the East African Community (EAC) region.
Key Resolutions and Milestones
The meeting saw several landmark resolutions that signal EASEA’s evolving regional impact:
- Admission of New Members: Five new institutions were welcomed into the EASEA family: the Somali Stock Exchange, Burundi Securities Exchange, CSD Rwanda, Ethiopia Securities Exchange, and National Securities Exchange of Somalia.
- Launch of the East Africa Capital Markets Index: Members passed a resolution to roll out the EAC Market Index on April 2, 2025. According to the communique: “The index will be comprised of the top twenty (20) listed companies in the region accounting for 85% of the region’s equity market index.”
To qualify, “Shares must have their primary listing on one of the constituent exchanges in Uganda, Rwanda, Kenya or Tanzania… Companies must have been continuously quoted for at least 1 year… [and] should be a ‘blue chip’ company with a superior profitability and dividend record.” - Progress on the Capital Markets Infrastructure (CMI) Project: “Members confirmed that the first Phase of the project as conducted by Rwanda Stock Exchange had been successfully completed with a scheduled end-to-end launch in the test environment.” The Association also approved “the commencement of the second phase of the project with the setup of a dedicated technical working group supported by a development partner throughout the project.”
In addition to infrastructure, the meeting addressed sustainability efforts and modernisation of operations: “Members further approved the initiatives by respective member countries to phase out cheque payments for corporate actions with the support of the EASRA. In addition, the members discussed initiatives for promotion of ESG and sustainability-based products within the region.”
Looking Forward
Under the banner “One Market, Infinite Opportunities,” the 34th EASEA Consultative Meeting reinforced a shared commitment to strengthening regional financial markets, improving visibility for listed firms, and opening up cross-border investment flows.
With Paul Bwiso now at the helm, EASEA is positioned to accelerate its agenda around integrated market systems, shared benchmarks like the new index, and innovative investment products—from sharia-compliant finance to ESG instruments—backed by solid regional cooperation and technological infrastructure.