The Johannesburg Stock Exchange plans to further its strategy of expanding into Africa by acquiring a "strategic stake" in Mauritius's bourse.
Nicky Newton-King, JSE deputy chief executive, told the Financial Times she hoped to complete talks "shortly" but would not disclose the size of the stake.
Last month the JSE, the continent's biggest bourse, launched its Africa Board, an adjunct to its main trading board on to which it hopes to attract leading companies from beyond its South African home.
Trustco, one of Namibia's biggest companies, was the first to debut on the new board, and smaller African exchanges will be watching to see whether the dual listing drains liquidity from the Namibian exchange.
The JSE is also party to discussions among the 15 members of the Southern Africa Development Community, the regional bloc, towards integrating the software systems used by their respective exchanges to allow easier cross-border trading.
By Tom Burgis
Published: March 10 2009 02:00 | Last updated: March 10 2009 02:00
http:///www/ft.com
Trustco Namibia is a powerful brand. Coming out of obscurity to list on the JSE in a time frame of 3-4 years is an achievement beyond believe. I'm proud to call Trustco Namibia a truly founded Namibian company, by Namibians.
ReplyDeleteYes,Trustco must be congratulated on this achievemnet and also for raising the bar for other truly Namibian companies.One can only hope that more ' truly Namibian 'companies will follow suit!
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