Nairobi Securities Exchange expands stake in Dar es Salaam bourse

The Nairobi Securities Exchange (NSE) has made a significant move by acquiring a 4.9 per cent stake in the Dar es Salaam Stock Exchange (DSE). The Chief Executive of the NSE, Geoffrey Odundo, highlighted the importance of viewing East Africa as a trading bloc rather than fragmented exchanges. Odundo emphasized the need for collaboration and cross-ownership across all exchanges in the region to attract international capital effectively. The integration of East African markets is seen as crucial for growth and to create a strong, integrated block in the future. This strategic investment in the DSE is a long-term commitment aimed at fostering interactions, cross-listings, education, knowledge sharing, and better working relationships across East Africa. This move sets the stage for further cross-investments should other exchanges in the region opt for an IPO, reinforcing the vision of a well-integrated East Africa trading bloc. The NSE's expansion into the DSE signals a positive step towards regional economic integration and collaboration, setting the stage for increased investments and market growth.'