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BUSINESS

African Stock Exchange Association set to implement second phase of AELP

June 19, 2023 • 2 min read

The African Stock Exchange is set to implement the second phase of the African Exchanges Linkage Project (AELP) in the third quarter of this year. This is coming after the successful launch of phase one of the project.

The association’s aim is to provide investors with access to a wide range of investment opportunities in African capital markets. Thapelo Tsheole, the President of ASEA and CEO of the Botswana Stock Exchange, revealed the plan during the AELP webinar titled “Exchange Linkage Project- Facilitating trades across borders.” The webinar, organized by the Nigerian Exchange Limited and supported by various entities, offered insights into the benefits and objectives of the AELP, Pan African Payment and Settlement systems, and other cross-border transaction requirements. Tsheole commended NGX for its promotion of the AELP initiative and emphasized that despite the challenges faced by African economies, the continent’s resilience highlights its potential for sustained economic growth. Initiatives like the AELP play a crucial role in fostering deeper integration and connectivity among Africa’s capital markets, providing significant opportunities for investors within Africa and globally.

He said, “Having successfully launched phase one of the project in December 2022, connecting 7 exchanges across Africa, we urge Nigerian brokers in the process now to reach out to their counterparts in other countries and strive for expanded cross-border trading across the continent. We are looking at rolling out Phase 2 of the AELP in Q3 2023 as funding has already been approved by the African Development Bank.“

We will expand the number of participating exchanges to about 15 exchanges and we think this will enable investors on the continent to maximize and take advantage of the wide array of investment prospects across Africa.

”Earlier in his opening remark, the Chief Executive Officer, NGX, Temi Popoola, said that despite offering high potential for growth and investment returns, African stock markets still face challenges.

He noted that the AELP will encourage increased participation in investments and further enhance financial inclusion in the country and added that the NGX will continue its collaboration with all market stakeholders for the collective growth and development of the capital market in Africa.