In line with Mr Odundo, the plan is a part of the NSE’s long-term goal to develop into a pan-African stock exchange. Reuters quoted him to have mentioned: “we will develop into a pan-African exchange in the long run, so we’re taking a look at how we will use this opportunity”.
At the moment, the Nairobi Securities Exchange is the fifth greatest in Africa by asset and one of the top ten best performers, in accordance with an earlier report by Business Insider Africa. The bourse additionally owns a 4.9% stake in the Dar es Salaam Stock Exchange.
To finance the deliberate acquisitions/expansions across Africa, CEO Odundo mentioned the NSE can be making use of a $12.98 million money reserve.
The CEO additional disclosed that the Nairobi Securities Exchange is contemplating acquiring different related companies such as depository companies and inventory trading companies. Already, the NSE has elevated its stakes in Nairobi-based Central Depository and Settlement Corporation Ltd, he mentioned.
As chances are you’ll properly know, there are 29 inventory exchanges positioned throughout the African continent. A few of the best performing ones amongst them are: Lusaka Securities Exchange, Ghana Stock Exchange, Malawi Stock Exchange, Johannesburg Stock Exchange, The Egyptian Exchange, Nigerian Exchange Group, and many others.
Follow Topgist.ng across our social channels, on Facebook, Twitter, and Instagram.
