Home»Business»BSE partners with Zimbabwean counterpart

BSE partners with Zimbabwean counterpart

Pinterest WhatsApp

Cross-border investments and listings will be enhanced


The Botswana Stock Exchange (BSE) and the Zimbabwe Stock Exchange (ZSE) will sign a Memorandum of Understanding (MOU) as a basis for co-operation in fostering the prosperity of their financial markets, promote cross-border investments and listings and explore further opportunities between the two institutions, The Botswana Gazette has established.

The MOU will be signed by the CEO of Botswana Stock Exchange, Thapelo Tsheole, and the CEO of the Zimbabwe Stock Exchange, Justin Bgoni, in Harare, Zimbabwe on 16 September 2019. A joint strategy has been unveiled for the two partners to provide the exchanges with a framework for cooperation in areas of product and market development, promotion of cross listings which shall include the exchanges formulating common fast track listing requirements for companies seeking secondary listing in either market, as well as a revenue sharing agreement on initial listing and continuing obligation fees paid by issuers.

Both exchanges will work on the creation of a framework, in conjunction with their respective regulators, that will make it easier, quicker and cheaper for companies to cross-list by simplifying issues such as exchange controls, fungibility and regulatory harmonisation. Another area of focus will be information sharing in key areas in developing capital markets.

Tsheole, commenting on this milestone said: “We are happy to partner with the Zimbabwe Stock Exchange as an extension (of) our mandate and contribute not only to the development of the capital markets but the region as a whole. This partnership will promote the values that we stand for as members of the SADC Committee of Stock Exchanges, as well as the African Securities Exchanges Association (ASEA).”

His Zimbabwean counterpart, Bgoni, was equally enthusiastic: “We are excited about the new partnership with the Botswana Stock Exchange and the prospect of a gateway for our companies to raise hard currency on the exchange,” he said. “This partnership will foster the development of the capital markets and contribute immensely to the economic development of Zimbabwe and SADC. For us, it is a practical step towards the upliftment of our two economies.”

Previous post

Mpho Sebina does an Ella Fitzgerald in a Zulu movie

Next post

New Choppies board exonerates Ram