Africa

The African Securities Exchanges Association (ASEA) has admitted the Botswana Stock Exchange (BSE) and Ghana Stock Exchange (GSE) to the African Exchanges Linkage Project (AELP). The admission was formalized at an AELP Steering Committee meeting on 31 May 2022 held on the sidelines of the 10th Edition of Building African Financial Markets (BAFM) Seminar hosted by The Central African Stock Exchange (BVMAC) in Douala, Cameroon. Speaking on behalf of the Steering Committee, the Chairman Dr. Edoh Kossi Amenounve said “The admission of the two exchanges is a demonstration of the importance of enlarging the community of exchanges integrated through the AELP. As we have added two members to the current seven Exchanges, we hope that in the coming years, more will join as we seek to have increased participation in the capital markets integration. This shows our commitment as exchanges to put our best effort towards continental integration by facilitating cross-border securities trading and movement of capital. I would therefore like to congratulate the Botswana Stock Exchange and Ghana Stock Exchange and officially admit them to the AELP.”

The African Securities Exchanges Association (ASEA) is inching closer towards integrating the African capital markets by facilitating cross-border trading and free movement of investments in the continent.

As the Russia – Ukraine conflict intensifies, and Western countries increase sanctions against the aggressor a new challenge emerges for West African oilers. Russia needs to ensure a steady pipeline of cash to prop up their economy and so Russian oil is being supplied at less expensive levels for those nations willing to absorb the wrath of the west. Some of these nations also happen to be the best buyers of West African crude.

Moody’s Corporation (NYSE: MCO) announced today that it has agreed to acquire a majority (51%) stake in Global Credit Rating Company Limited (GCR). GCR is a leading credit rating agency in Africa with operations spanning the continent, including in South Africa, Nigeria, Senegal, Kenya, and Mauritius.