The EAC (East African Community) secretariat in Arusha, Tanzania has revived ambitions to have a Monetary Union for the region.

It has revived the Capital Markets Sub-committee of the Capital Markets, Insurance and Pensions Committee(CMIPC), paving the way for accelerated implementation of the regional markets integration.

The idea is to move towards eventual goal of establishing an East African Monetary Union.

This commitment was made during a three-day meeting of the Capital Markets sub-committee held from 15th-17th September 2026 that brought together CEOs and senior technical representatives from Securities Exchanges, Regulatory Authorities and Central Securities Depositories across EAC partner states.

This is the first such meeting for the sub-committee since 2019 and follows a directive of the 18th meeting of the Sectoral Council on Finance and Economic Affairs(SCEFA) to resume the Committee’s work and strengthen regional coordination on capital markets integration.

Dickson Ssembuya, Director Research and Market Development, Capital Markets Authority Uganda, who chaired this session, said resumption of the committee work was critical to strengthening regional coordination and advancing the EAC capital markets integration agenda.

“The last engagement of CEOs under this sub-committee was in 2019. Since then, integration efforts have continued but without the regular co-ordination and oversight that this committee was established to provide. Today’s meeting represents an important step towards restoring that collaboration and ensuring that all EAC Capital markets move forward together,” said Ssembuya.

Aime Uwase, Director of Planning at the EAC Secretariat underscored the strategic importance of the meeting.

“The resumption of the Capital Markets Sub-Committee’s activities comes at a critical time as the EAC advances preparations for the East African Monetary Union. Strong coordination among regional institutions is essential to building integrated, efficient and resilient capital markets capable of mobilising investments and supporting sustainable economic development across the region,” said Uwase.

He called on participating member states to maintain a shared commitment to developing capital markets that are efficient, inclusive, resilient and supportive of the broader objectives of the East African monetary Union.

The meeting endorsed an updated terms of reference for the Capital Markets Sub-Committee, reaffirming its role as the principal technical and policy coordination mechanism for regional markets integration.

The revised framework broadens participation to reflect the expanded members of the EAC and strengthens the sub-committee’s mandate in areas including regulatory harmonisation, market development, product diversification and the inter-linking of regional financial markets infrastructure.

The meeting also noted the need to develop a comprehensive regional business requirements specifications to inform the design and implementation of a regional capital markets connectivity framework. The development of a connectivity framework will ensure seamless cross-border capital markets activities within the EAC.

The Sub-Committee also reviewed progress made under previous capital markets integration initiatives undertaken during the diagnostic stage for the establishment of the East African Monetary Institute(EAMI) and received updates on development support for a follow up phase.

The outcomes of this meeting are expected to accelerate the development of interconnected regional capital markets infrastructure, strengthen regulatory cooperation among EAC states, facilitate cross-border investment and contribute to more efficient mobilisation of long-term capital.

They will also support the development of innovative regional financial products and enhance the region’s readiness for financial and monetary integration.