The second phase of the African Exchanges Linkage Project (AELP), which was successfully launched in phase one, is expected to begin by the third quarter (Q3) of this year, according to the African Stock Exchange Association (ASEA), which wants to make sure investors take advantage of the numerous investment opportunities available on African capital markets.
Thapelo Tsheole, President of ASEA and CEO of the Botswana Stock Exchange, informed the market’s participants of this during a recent AELP webinar with the title Exchange Linkage Project- Facilitating Trades Across Borders.
Tonui continued by saying that phases 1 and 2 will include linked exchanges with a combined market capitalization of $1.5 billion, boost visibility to both domestic and international investors, provide access to a variety of investment products, encourage innovation, and promote Pan-African capital raising through IPOs.
Also speaking, the Head, Technology and Operations at PAPSS, Ositadimma Ugwu said the key benefits for every participating exchange is that local currency payment will reduce the pressure on any country’s reserves and the elimination of third party dependencies will make intra-African trade significantly easier.
Earlier in his opening remark, the Chief Executive Officer, NGX, Temi Popoola, stated that despite offering high potential for growth and investment returns, African stock markets still face challenges.
Sunnews.