eBusiness Weekly
Business Writer
The Zimbabwe Stock Exchange (ZSE) has been nominated to host this year’s Committee of SADC Stock Exchanges (CoSSE) Bi-Annual meeting and the African Securities Exchanges Association (ASEA) BAFM workshop.
The ZSE chief executive, Justin Bgoni, said the two events will be held simultaneously in Victoria Falls from 10 April to 15.
“The ZSE…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,” he said in a statement.
CoSSE was established in 1997 as a collective body of the various stock exchanges in the SADC, with the objective of increasing market liquidity in the region, enhancing trading in various securities within the region, and encouraging the development of a harmonised securities market environment within the SADC.
Other members who are part of CoSSE, are the Johannesburg Stock Exchange (JSE), Lusaka Stock Exchange (LSE), the Zimbabwe Stock Exchange (ZSE) and Trop-X Limited (Seychelles).
The main objective of CoSSE is to promote the development of efficient, fair and transparent securities markets within the region.
ASEA was established 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 program initiated by ASEA designed to promote growth in African financial markets and an opportunity to enhance the capacity of African exchanges to compete globally.
According to Bgoni, the 11th BAFM workshop will be running under the theme ‘Managing Risk in Turbulent Times.
SADC stock exchanges have over the years resolved to concentrate on loose cooperation after clarifying the sticky issues that seemed to slow down progress towards an integrated real-time network of the region’s national bourses.
Given the different levels of development in SADC countries, concerns have been raised over a regional stock exchange that might be dominated by the largest stock exchange in the region, the Johannesburg Stock Exchange.
Member states have therefore resolved to begin with loose cooperation and this will likely pave way for smooth transition into integration.
However, Zimbabwe’s equities market has evolved in recent years through introduction of new products and setting up of a US dollar denominated exchange, the Victoria Falls Stock Exchange (VFEX).
The ZSE on its part has products such as real estate investment trusts (REITs) and Exchange Traded Funds (ETF).
