New Pan African Stock Exchange lists its first company | BlackNewsTribune.com
Marion Cunningham
1 min read
The Africa board, which was set up under the Johannesburg Stock Exchange (JSE), was created to draw foreign money into the Pan-African market while giving groups listed on other African Exchanges the opportunity to list on the JSE in addition to their current bourse.
The JSE has the most liquid market for equities on the continent. The market value of the companies that form part of the JSE’s all share index is about R3.2 trillion(USD128 Million). The hope for the new bourse is that it will also link African exchanges to the JSE and provide additional exposure to individual exchanges. Companies could benefit from increased awareness and exposure as well.
Some companies interested in listing on the Board have indicated that this could serve as a springboard for their entry into new markets in Africa. NAMIBIAN micro financial services group Trustco became the first company to float on the JSE’s new Africa board last week.
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