• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Saturday, August 13, 2022
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

African Securities Exchanges Procure Software to engage in Cross-Border Trading

Jackson OkothbyJackson Okoth
July 31, 2021
in African News, Kenyan News
Reading Time: 3 mins read
ASEA- African securities exchange

African Securities Exchanges that include some of the most vibrant and biggest bourses in the continent have moved a step closer to doing linking up their trading floors to enable cross-border transactions.

This is after the African Securities Exchanges Association (ASEA) signed a contract to procure an order-routing system. Seven leading African securities Exchanges are working together in the African Exchanges Linkage Project (AELP) to make this happen.

They include the Nairobi Securities Exchange, The Egyptian Exchange, Casablanca Stock Exchange, Bourse Regionale des Valeurs Mobilieres-representing stock exchange for the West African Economic and Monetary Union’s eight West African nations, Johannesburg Stock Exchange Nigerian Exchange and Stock Exchange of Mauritius.

The AELP Link platform will enable trading between brokers in the seven African Securities Exchanges participating in the pilot phase.

DirectFN, an IT solutions provider, is the supplier of the platform after winning the tender that attracted some of the top firms in over 18 countries.

African Securities Exchanges to have a digital link

According to Dr Walid Al Ballaa, Managing Director of DirectFN, this innovative technology will create digital links across participating African exchanges.

The AELP is a joint venture that involves ASEA and the African Development Bank (AfDB) with financial support from the Korea-Africa Economic Cooperation (KOAFEC) Trust Fund- managed by the African Development Bank.

Investors in any one exchange will channel their orders, using a local stockbroker, through the AELP Link to a stockbroker on the foreign market where the security is listed.

African Listed Securities accessible through the AELP Link will include all securities that are available for cross-border investors.

Investors will also buy or sell corporate and government bonds, exchange-traded funds (ETFs) and derivatives where these are listed on the participating Exchanges with the sponsoring stockbroker providing access.

According to Dr Felix Edoh Kossi Amenounvé, President of ASEA and CEO of the BRVM, this project is a big step towards free movement of investments across Africa and free flow of capital.

“Our aim is to open new opportunities for individual and institutional investors to invest productively into Africa’s growth story. The Exchanges continue to support African enterprises and governments to raise long-term capital for African jobs, business growth, infrastructure and development,” said Dr Kossi.

ALSO READ: Kenya’s Stock Market Ranked Sub-Saharan Africa’s Best Performer in the Past Decade


Hisa App Hisa App Hisa App
Previous Post

Angaza Awards 2021 Call for Entries Opens on 1st August

Next Post

Inflation ups 6.44% in July on Cooking Gas, Airtime, Electricity Price Hikes

Related Posts

Toto Consortium Makes $433 Million for Stake in Telkom SA

Toto Consortium Makes $433 Million for Stake in Telkom SA

August 12, 2022
Sudan

Sudan Secures China’s Backing to Begin $640 Million Restoration of Railway line

August 12, 2022

Rising Inflation Pushes Rwanda to Hike Interest Rate to 6%

August 12, 2022

Ethiopia Begins Power Generation from Second GERD Turbine

August 12, 2022

Kenya’s Marketforce Slashes 9% of its Workforce

August 11, 2022

Fitch Ratings Cuts Ghana’s Debt Rating to Junk

August 11, 2022

Zambia Cancels Undisbursed Loans Worth $1.6 Billion from China

August 11, 2022

Kenya’s FinAccess Raises $500,000 in Pre-Series A Funding

August 11, 2022
Load More
Next Post

Inflation ups 6.44% in July on Cooking Gas, Airtime, Electricity Price Hikes

ADVERTISEMENT

Follow Us

  • 143.3k Followers
  • 2.4k Subscribers
  • 1.1k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In