$1.3 Trillion Market Capitalization Earmarked by African Securities Exchange Association in Alliance with the African Development Bank (AfDB)
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The AfDB divulged, the affiliation would behold Africa’s exchange connection program, AELP, expand from seven to 15.
It let out the budgets would come from the Korea African Economic Cooperation Fund (KOAFEC) Trust Fund, supervised by the AfDB.
“Participating stock exchanges include the Botswana Stock Exchange, where the grant signing took place; the Ghana Stock Exchange and six other stock exchanges.
“The grant will also support capacity building of institutional investors and capital market operators,” it explained.
Thapelo Tsheole – the President of ASEA and Chief Executive Officer (CEO) of the Botswana Stock Exchange, pointed out that the coalition would be a springboard for developing the landmass’s securities exchange market. Tsheole said: “We thank AfDB for their invaluable support and dedication to developing African Capital Markets.
“Together, we are working toward a fully integrated Africa for the benefit of investors, businesses and governments across the continent.”
The Bank Group’s Vice President for Private Sector, Infrastructure and Industrialization – Solomon Quaynor, told the alliance would enable regional integration of the securities market.
“The AELP is facilitating regional integration through African stock exchange linkage amounting to up to 1.3 trillion dollars in combined market capitalization.
“The collaboration between the Bank and ASEA through the AELP aligns with our objective of leveraging institutional investor groups and capital markets financing into infrastructure and the real sector in regional member nations,” he announced.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent