Kenya pulls out of EA capital markets project over tender
Kenya's capital markets regulators have reservations about the quality of the software being purchased. PHOTO | FILE
Kenya has pulled out of a capital markets integration project meant to make trading in shares across East Africa cheaper and faster, citing irregularities in tendering for the $3.8 million software.
The other EAC member states — Rwanda, Uganda and Tanzania — will proceed with the interconnection as Kenya consults over the alleged irregularities. Burundi, which does not have a securities exchange, is expected to link up to the interface when it launches one.
