The Johannesburg Stock Exchange reports that it is satisfied with progress on its Africa Board, which aims to attract leading African companies to dual list their securities. The team has three more countries in its first year programme, building links with leading issuers, regulators, brokers and African exchanges.
The Board was launched on 19 February 2009 with its first listing, Trustco Group Holdings, a Namibian microfinance and insurance company also listed on the Namibian Stock Exchange.
In a recent email, the Africa Board management told www.africancapitalmarketsnews.com that the aim of the first year was to continue consultations with key market players. Since February, the team has visited Zimbabwe, Zambia, Kenya, Tanzania and Ivory Coast. On the future itinerary are Ghana, Nigeria and Angola. The team are establishing relationships with stock exchanges, regulators, stockbrokers and targeted issuers.
The team says their aim is “to establish how the Africa Board can work for the benefit of all parties involved”. According to the email: “In the next six months these trips will continue, with much the same agenda, and we are hopeful that in the course of next year, there will be further listings on the Africa Board.”