Seven African stock exchanges launched an integration project in Ivory Coast on Wednesday to facilitate cross-border trading of securities on the continent.
The initiative, called the African Exchanges Linkage project, includes the stock exchanges of Nigeria, Mauritius, Morocco, South Africa, Kenya, Egypt, and West Africa. Ghana's and Botswana's will join in a later phase.
The stock exchanges remain distinct markets and there is no cross listing of shares, but investors in different countries can now buy shares on other exchanges through a common platform, which went live on Nov. 18.
"This platform will allow for the development of capital markets in Africa," said Edoh Kossi Amenounve, general director of West Africa's regional bourse, speaking alongside the directors of the other stock exchanges.
The project represents 2,000 companies listed for about $1.5 trillion market capitalisation, officials said. It was spearheaded by the African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB).
Seven African stock exchanges launch integration project
Image: REUTERS/Siphiwe Sibeko/File Photo
Seven African stock exchanges launched an integration project in Ivory Coast on Wednesday to facilitate cross-border trading of securities on the continent.
The initiative, called the African Exchanges Linkage project, includes the stock exchanges of Nigeria, Mauritius, Morocco, South Africa, Kenya, Egypt, and West Africa. Ghana's and Botswana's will join in a later phase.
The stock exchanges remain distinct markets and there is no cross listing of shares, but investors in different countries can now buy shares on other exchanges through a common platform, which went live on Nov. 18.
"This platform will allow for the development of capital markets in Africa," said Edoh Kossi Amenounve, general director of West Africa's regional bourse, speaking alongside the directors of the other stock exchanges.
The project represents 2,000 companies listed for about $1.5 trillion market capitalisation, officials said. It was spearheaded by the African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB).
Emfuleni, Eskom to meet over attached vehicles
Business interruption insurance victor appeals against eviction order
Closed borders spell disaster for businesses, workers
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Related articles
Latest Videos