Botswana Stock Exchange (BSE),is burning the mid-night oil to connect the leading African bourses with a market capitalization of US $ 2 trillion ( P 26.6 trillion) before the end of this year – BSE chief executive officer Thapelo Tsheole has told Sunday Standard.
“The project started well with seven stock exchanges across the African continent. What is left is for us (BSE) to come up with a broker connection model and how we are going to deal with settlement issues – especially cash settlement across different jurisdiction,” said Tsheole who is also the chairman of the Africa Stock Exchanges.
“He added: “We have to come up with a Pan African payment system.”
The leading stock markets that are trying to get connected are: (BVRM) which are the seven countries of West Africa, Botswana, Egypt, Johannesburg Stock Exchange, Mauritius, Morocco, Nairobi and Nigeria.
The above stock markets have 2000 companies with market capitalization of US $ 2 trillion.
“We are hoping to have all done by October/ November this year. It should be possible for the brokers here to buy shares from other markets. Say, if someone in Botswana wants to buy shares in Dangote Group on the Nigerian Stock market the broker this side should hook up with another broker in Nigeria to do that, and the same should apply if they are interested in share in Letshego Holdings,” he said.
The move is expected to foster the integration of the African capital markets and allow fast follow of information.
