Seven African stock markets begin a process of integration
In order to promote cross-border trading of securities throughout the continent, seven African stock exchanges on Wednesday started an integration experiment in the Ivory Coast.
Nigeria, Mauritius, Morocco, South Africa, Kenya, Egypt, and West Africa’s stock markets are all a part of the effort, which is known as the African Exchanges Linkage project. Later on, Botswana and Ghana will also join.
Although there is no cross-listing of shares and the stock exchanges remain separate markets, investors from many nations can now purchase shares on other exchanges using a shared portal, which went online on November 18.
Together with the directors of the other stock exchanges, Edoh Kossi Amenounve, general director of the regional bourse for West Africa, remarked, “This platform would allow for the expansion of capital markets in Africa.”
According to officials, the project represents 2,000 listed firms with a market value of nearly $1.5 trillion. The African Development Bank and the African Securities Exchanges Association (ASEA) led the initiative (AfDB).
