• December 2, 2010: Signing of the License Agreement between IFC and the Securities Industry Training Institute (SITI) to confer SITI with the right to use training materials prepared with ESMID's assistance.
  • October 12-13, 2010, Dar es Salaam, Tanzania: National Workshop on ESMID studies was held in collaboration with Tanzania’s Capital Markets and Securities Regulatory Authority
  • July 2010, Tanzania: ESMID in collaboration with the Unit Trust of Tanzania held a seminar on Real Estate Investment Trusts (REITS) and Bond Market Development to discuss alternative investment options for investors in Tanzania.
  • March/April 2010, Kenya: ESMID organized a 2-day working retreat with Capital Markets Authority (CMA) Kenya and an independent lawyer to discuss the practical ways and implications of introducing an Over-the-Counter (OTC) market model for trading bonds to operate alongside the existing exchange trading.
  • February/April/May 2010, Burundi, Kenya,Tanzania: ESMID facilitated regional market infrastructure project team meetings to support the development of a project for the consolidation and integration of market infrastructure, in particular, the Central Securities Depositories (CSD), and to draft a project proposal.
  • February 2010, Kenya: ESMID held the first Transaction Support Roundtable Forum between Capital Markets Authority Kenya (CMA), investment banks and transactions legal advisors, to share lessons from recent bond transactions in Kenya with a view to improving the issuance process, and identifying priorities to improving the regulations and issuance process.




  • December 2009: On ESMID’s request, NASDAQ OMX organized a study tour of the Swedish capital markets for key stakeholders in Kenya including the Central Bank of Kenya (CBK), Capital Markets Authority (CMA), and Central Depository and Settlement Corporation (CDSC), to provide insight into the Swedish financial market structure and examples for stakeholders to consider as they contemplate adopting the recommended market structure and infrastructure for trading bonds in Kenya.
  • November 2009: ESMID in collaboration with the Kenya Retirement Benefits Authority, Capital Markets Authority (CMA), Insurance Regulatory Authority, and Financial and Legal Sector Technical Assistance Program, hosted a workshop on ‘Alternative Investment Options’ that aimed at increasing the awareness of over 100 participants from pension funds and insurance companies about available investment options, including nongovernment bond instruments, and ways in which they can diversify their investment portfolios.
  • August 2009: ESMID facilitated three regional workshops in Kenya on Securitization Legislation and Policy Changes to obtain wider stakeholders comments and feedback on recommended asset-backed securities (ABS) policy and legislation framework.
  • ESMID Nigeria organized the following events in 2009:
    • Roundtable Discussion with key stakeholders (regulators and market participants) to identify top reform priorities to develop the nongovernment bond markets.
    • Seminar on Reviving Nigeria’s Nongovernment Bond Markets, in collaboration with the Securities and Exchange Commission (SEC) and the National Pension Commission (PENCOM), focusing on the top reform priorities: (i) regulatory framework to increase demand and supply of nongovernment bonds, (ii) price and trade information dissemination, and (iii) clearing and settlement.
    • Regionalization Roundtable Discussion with regulators and market operators from Nigeria, Ghana, and Ivory Coast (representing Western Africa Monetary Union), to increase awareness of regionalization opportunities in West Africa.



  • November 2008: ESMID, together with the technical partners NASDAQ OMX, International Securities Consultancy (ISC), and Cadogan Financial, held a regional conference in Nairobi, “EAC Capital Markets Regionalization and Bond Markets Workshop.”
  • November 2008: ESMID, in collaboration with technical partners DevPar Financial, held a workshop in with East Africa capital markets regulators to discuss the regional training program and materials prepared by the consultants.
  • November 2008: ESMID, in collaboration with technical partner Cadogan Financial, presented findings and recommendations from two reports on regionalization of capital markets in East Africa at a workshop with stakeholders in Kampala, Uganda.
  • October 2008: ESMID participated in the Infrastructure Bond Conference held in Nairobi, Kenya to discuss practical ways on how to tap the capital markets to fund infrastructure projects, and to provide examples of industry best practice.
  • June 2008: ESMID participated in the Making Finance Work for Africa (MFW4A) Forum in Accra, Ghana, where the team made a presentation on the program in an open session on Capital Markets.



For more information, please contact:

Grace Kibuthu
Tel:+254 20 2759 405