Business
AELP phase II: African exchanges seek expanded cross-border trading
The African Stock Exchange Association (ASEA) has revealed that having successfully launched phase one of the African Exchanges Linkage Project (AELP), it is looking at rolling out the second phase to ensure that investors take advantage of the wide array of prospects across African capital markets.
The president of ASEA and Chief Executive Officer of Botswana Stock Exchange, Thapelo Tsheole, disclosed this to market stakeholders during the AELP webinar themed ‘Exchange Linkage Project- Facilitating Trades Across Borders’.
The webinar, which was hosted by Nigerian Exchange Limited (NGX), provided insights into the benefits and objectives of the AELP, Pan African Payment and Settlement (PAPSS) and other cross-border transaction requirements.
Applauding NGX for promoting the AELP initiative, Tsheole noted that although African economies have encountered numerous challenges, the continent’s resilience in the face of adversities underscores its potential for sustained economic resilience and initiatives such as the AELP which are very vital for Africa to rely on itself.
He said the initiative presents a momentum of opportunities for investors across Africa and the world by fostering deeper integration and connectivity among Africa’s capital markets.
The Project Manager, AELP, Lina Tonui, in her presentation, said through the support of the AfDB, it received $980,000 from KOAFEC for the AELP implementation phase one of the projects, adding that the opportunities in the project are huge.
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.
He noted that the AELP will encourage increased participation in investments and further enhance financial inclusion in the country, adding that the NGX will continue its collaboration with all market stakeholders for the collective growth and development of the capital market in Africa.
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