THE Zimbabwe Stock Exchange (ZSE) has been nominated to host two strategic African financial markets meetings – the Committee of SADC Stock Exchanges (CoSSE) Bi-Annual meeting and the African Securities Exchanges Association (ASEA) BAFM in Victoria Falls.
The capacity-building engagements are set for April.
ZSE chief executive officer, Justin Bgoni, said the main objective of CoSSE is to promote the development of efficient, fair and transparent securities markets within the region.
“The Zimbabwe Stock Exchange Limited is pleased to advise stakeholders that it has been nominated to host the Committee of SADC Stock Exchanges (CoSSE) Bi-Annual meeting from 10-11 April 2023 and the African Securities Exchanges Association (ASEA) Building African Financial Markets (BAFM) workshop from 12-15 April 2023 at Elephant Hills Resort in Victoria Falls,” he said in a statement.
CoSSE was established in 1997 as a collective body of the various stock exchanges in the Southern African Development Community (SADC).
On the other hand, ASEA was set up in 1993 and is the premier association of securities exchanges in Africa, which have come together with the aim of developing member exchanges, promoting capital market business and providing a platform for networking.
“Currently, the association is represented by 25 exchanges serving 37 African countries, Zimbabwe included. The BAFM workshop is a capacity building programme initiated by ASEA designed to promote growth in African financial markets and an opportunity to enhance the capacity of African exchanges to compete globally,” he said.
The 11th BAFM workshop will run under the theme: ‘Managing Risk in Turbulent Times.
The development comes when the African Financials’ sub-Sahara Africa Top 30 Companies report indicated that ZSE fared well in its performance compared to its regional peers last year in US dollar terms.
The report said regional stock markets, excluding South Africa’s, rose by an average 4,5 percent in US dollar terms in December 2022.
The growth, according to the report, is a significant achievement as it is driven by strong earnings growth and overvalued stocks.
Source: The Zimbabwe Mail
