The seven leading African stock exchanges struck about $1.6 billion in cross-border deals in 15 months as fund managers expressed optimism on the prospects of investments in the African markets.
Cross-border deals are transactions that involve more than one financial jurisdictions or involving many stock markets and national regulatory authorities.
Official reports indicated that cross-border trading between the seven leading African stock markets for the 15-month period ended March 31, 2020 totalled $1.6 billion with a strong potential for increase over the next period.
Cross-border deals in 2019 stood at $1.1 billion while more than $500 million were traded in first quarter of 2020.
The seven stock markets included Nigerian Stock Exchange (NSE), Johannesburg Stock Exchange, Nairobi Securities Exchange, Casablanca Stock Exchange, The Egyptian Exchange, Stock Exchange of Mauritius and Bourse Régionale des Valeurs Mobilières (BRVM), the integrated stock market for eight West African countries.
