Director, Global Market Development, Milken Institute International
Carole Biau is a director for Global Market Development at the Milken Institute, where she works to inform financial and economic policy across developing and emerging markets.
Growth in capital markets in the East African Community (EAC) has not kept up with the pace of economic growth.
Rwanda, Kenya, and Tanzania all posted annual growth rates above 5.4 percent over 2015-2017. This makes East Africa the fastest-growing region in sub-Saharan Africa over the period.
Nonetheless, East Africa’s lack of deep, liquid capital markets has had a dampening effect on private-sector-led growth and long-term development and all countries in the EAC recognize the need for regional integration of capital markets.
Gridlock on several necessary central components has slowed the process of integrating regional capital markets. In particular, EAC countries have been unable to maintain consensus on how to build and share infrastructure around a regional central securities depository (CSD).
This paper provides greater perspective on the implications of an impasse of an ongoing project led by the EAC Secretariat on capital markets infrastructure (CMI) with the support of the World Bank and suggests options and models that exist for moving forward while outlining relative pros and cons.
The paper also highlights essential points of debate that need to be resolved in order to prevent EAC countries from losing potential investors and resources due to further hindrances to capital market integration and development.
The Milken Institute, International Finance Corporation (IFC) and the George Washington University School of Business (GWSB) are proud to welcome the third cohort of IFC-Milken Institute Fellows, the Class of 2019. This select group of 23...
On March 14, 2014 the Milken Institute Center for Financial Markets (CFM) hosted a working roundtable titled “Framing the Issues: Strengthening Capital Markets in Developing Countries.” The day-long event in Washington, DC convened scholars...
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Chad Clinton is the director of media relations for the Milken Institute. Hired to this role in August 2021, Clinton develops and executes strategies to amplify the Institute’s core messages by generating coverage of its pillar workstreams, experts, and events.
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WASHINGTON , Oct. 31, 2017 -- The Milken Institute, the International Finance Corporation (IFC, a member of the World Bank Group focused on the private sector), and The George Washington University's School of Business are working together...
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Executive Vice President, Milken Institute Finance
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In recent years, a number of stock exchanges in emerging-market and developing economies have established dedicated market segments for small and medium-sized enterprises (SMEs). The main purpose of these SME boards, as they are often...
Director, Environmental and Social Innovation team, Milken Institute Strategic Philanthropy
John Schellhase is a director on the Environmental and Social Innovation team at Milken Institute Strategic Philanthropy, where his work focuses on social impact philanthropy. As part of his work, Schellhase contributes to and manages projects related to strengthening corporate philanthropy and operating innovation competitions to advance the Sustainable Development Goals.
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