Botswana, Zimbabwe stock exchanges confirm cross-border plan

By AT editor - 18 September 2019 at 3:03 am
Botswana, Zimbabwe stock exchanges confirm cross-border plan

The stock exchanges of Botswana and Zimbabwe have inked a deal that’s meant to boost investment in both countries, help Zimbabweans to raise capital, and contribute to the economic advance of the Southern African Development Community as a whole.

The Memorandum of Understanding was signed by Thapelo Tsheole, CEO of the Botswana Stock Exchange, and his Zimbabwean counterpart, Justin Bgoni, in Harare this week.

“We are happy to partner with the Zimbabwe Stock Exchange as an extension to our mandate and contribute not only to the development of the capital markets, but the region as a whole,” said Tsheole, in a statement announcing the plan. “This partnership will promote the values that we stand for as members of the SADC Committee of Stock Exchanges, as well as the African Securities Exchanges Association.”

The agreement will facilitate cross-border exchange listings, smooth out regulatory bumps and establish shared strategies on product and market development, the two exchanges said.

Bgoni said Zimbabwe was excited about the new partnership with Botswana because it creates a pathway for companies to raise money on the exchange.

“This partnership will foster the development of the capital markets and contribute immensely to the economic development of Zimbabwe and SADC,” Bgoni added. “For us, it is a practical step towards the upliftment of our two economies.”

Image: Zimbabwe Stock Exchange

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