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The African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB) Group have signed an agreement for a US$600,000 grant to expand the number of linked African exchanges from an initial seven to 15 under the second phase of the African Exchanges Linkage Project (AELP). The development would go a long way to accelerate cross-border trading and pan-African investment flows and bring more liquidity to African markets.
The African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB) Group have signed an agreement for a US$600,000 grant to expand the number of linked African exchanges from an initial seven to 15 under the second phase of the African Exchanges Linkage Project (AELP). The development would go a long way to accelerate cross-border trading and pan-African investment flows and bring more liquidity to African markets.
The AELP is a flagship project of ASEA and the Bank Group aimed at linking African capital markets. This is designed to unlock pan-African investment flows, promoting cross-border securities trading, increasing liquidity, and diversifying investment opportunities for investors. The total market capitalization of African stock and facilitating regional integration through African stock exchanges amounted to US $1.3 trillion in combined market capitalisation.
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According to the Nigerian Exchange Limited (NGX), the funds will come from the Korea African Economic Cooperation Fund (KOAFEC) Trust Fund. It is managed by the ADB. AELP’s second phase will provide investors access to over 2,000 securities listed on up to 15 capital markets through a cross-border securities trading platform tailored to the needs of regulators, central depositories, policymakers, and stockbrokers.
