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    Khusoko – East African Markets
    MARKETS

    African Securities Exchange, AfDB Eye $1.3 tn Market Capitalization

    Ghana, Botswana and six other African exchanges to join phase 2 of the AELP
    I KBy I K2023-07-03No Comments1 Min Read
    AfDB Vice President Solomon Quaynor (left) and Thapelo Tsheole, ASEA’s President and CEO of the Botswana Stock Exchange

    The African Securities Exchange Association aims to achieve a market capitalization of $1.3 trillion through collaboration with the African Development Bank.

    In a statement, ASEA and the African Development Bank Group signed an agreement for a $600,000 grant to expand the number of linked African exchanges from 7 to 15 under the second phase of the African Exchanges Linkage Project.

    The funds will come from the Korea African Economic Cooperation Fund (KOAFEC) Trust Fund, managed by the African Development Bank.

    AELP’s second phase will provide investors access to over 2,000 securities listed on up to 15 capital markets through a cross-border securities trading platform tailored to the needs of regulators, central depositories, policymakers, and stockbrokers.

    The objectives of the AELP align with the African Union’s Agenda 2063 and the African Continental Free Trade Agreement’s goal of establishing a liberalized market to ease the movement of capital and investments and deepen the continent’s economic integration.


     

    I K
    I K
    • Website

    IK is a Masinde Muliro University graduate. His interests are in news and analysis on women's rights, politics, technology, law, and global affairs.

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