Nigeria, South Africa, and Kenya are planning to cross-list more exchange-traded funds (ETFs) on their stock markets to boost liquidity of the securities, Tamsin Freemantle, business development manager of the Johannesburg Stock Exchange (JSE) has disclosed.
This proposed cross-listing of ETFs will involve the leading exchanges in sub-Saharan Africa as the JSE is the biggest exchange in the region by market value, while Nigeria is third and Kenya is fourth.
While Johannesburg-based Absa Capital, a unit of Barclays Africa Group Ltd., had listed its NewGold ETF on the Nigerian Stock Exchange in 2011, Nigeria has four ETFs, the JSE has 45.
However, the Nairobi Securities Exchange is awaiting regulatory approval to offer the asset class, Donald Ouma, head of market product and development, said.
