Africa | African Countries Will Start Cross-Border Equity Transactions In 2022
Africa | African Countries Will Start Cross-Border Equity Transactions In 2022
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African countries will start cross-border transactions in their securities listed on stock exchanges this year, announced Tuesday, 26, an official contacted by Xinhua.
Africa | Eight countries are part of the project, namely Kenya, Nigeria and Morocco; Egypt, Ivory Coast and Botswana, as well as South Africa and Mauritius.
The markets in those states were numerically linked to facilitate the buying and selling of their shares and bonds from listed securities, said Geoffrey Odundo, director general of the Nairobi Stock Exchange (NSE).
“African countries have made great progress in harmonizing their securities trading rules and we are preparing to start cross-border trading this year,” said Odundo, on the occasion of the launch of the quarterly NSE barometer.
In his view, such cross-border transactions offer an investor from one country the possibility of purchasing securities listed on a stock exchange in another country through their local broker. He added that the stock exchanges will be connected to ensure that investors have visibility on the capital market products of those countries.
This cross-border trading will also increase the liquidity of African securities, expanding the nursery of potential investors, explained the Kenyan financier.
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