The Committee of SADC Stock Exchanges (CoSSE) has launched a website as part of a drive to create more liquidity in the southern African stock exchanges through better data and visibility for the exchanges. The new website (www.cossesadc.org) was launched on 19 April.
CoSSE has 10 members: the exchanges of Botswana, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe. It was established in 1997 and is a collective and co-operative body of the various stock exchanges in the Southern African Development Community (SADC). It forms part of SADC structures as it has a formal status under the SADC Finance and Investment Protocol (FIP). The objectives are:
- To improve the operational, regulatory and technical requirement underpinnings and capabilities of SADC exchanges
- To make the securities markets of SADC exchanges more attractive to both regional and international investors
- To increase market liquidity and enhance trading in various securities and financial instruments
- To promote the development of efficient, fair and transparent securities markets within the SADC region
- To encourage the transfer of securities markets’ intellectual capital and technical expertise among the member countries of CoSSE
- To encourage interaction among market participants
- To encourage the development of a harmonised securities market environment within the SADC region
- To maximise co-operation among CoSSE members.
The new website is hosted and maintained by a leading South African data vendor I-Net Bridge. The company has been extending its footprint into Africa to provide investors with accurate, timely and reliable African financial data. Where it is available, the firm provides information from over 18 African countries, including equity and index data from the exchanges, a range of African economic time series, annual company financial statements and company news through their various professional and corporate-solutions products. Stephen Phillips of I-NET Bridge says: “It is I-Net Bridge’s goal to become the preferred supplier of African content globally and assist in generating interest and liquidity to all African exchanges”.
The new chair of CoSSE is Beatrice Nkanza, chair of the Lusaka Stock Exchange, taking over after the term of Emmanuel Munyukwi, CEO of the Zimbabwe bourse. Gabriel Kitua, CEO of the Dar es Salaam SE, was elected vice-chair. The meeting, held at the JSE Ltd in Johannesburg, also discussed business plans for regional cooperation.