Press Play and Listen to this article on Nyongesa Sande!!
This is a list of stock exchanges in Africa. There are 29 exchanges in Africa, representing 38 nations’ capital markets. Africa has two regional stock exchanges: the Bourse Régionale des Valeurs Mobilières, or BRVM, located in Abidjan, Cote d’Ivoire; and the Bourse des Valeurs Mobilières de l’Afrique Centrale [fr], or BVMAC, located in Libreville, Gabon. The BRVM serves the countries of Benin, Burkina Faso, Guinea Bissau, Côte d’Ivoire, Mali, Niger, Senegal and Togo; the BVMAC serves the Central African Republic, Chad, Democratic Republic of Congo, Equatorial Guinea and Gabon.
21 of the 29 stock exchanges in Africa are members of the African Securities Exchanges Association (ASEA). ASEA members are indicated below by an asterisk (*).
The Egyptian Exchange (EGX), founded in 1883, is the oldest stock exchange in Africa. One of the oldest bourses (exchanges) on the continent is the Casablanca Stock Exchange of Morocco, founded in 1929 and the JSE Limited in 1887. Today the Casablanca stock exchange, in morocco is the 5th largest exchange in Africa, while Johannesburg Stock Exchange (1st), the Nigerian Stock Exchange, the Namibian Stock Exchange (NSX), Zimbabwe Stock Exchange make up the 4 biggest ones on the continent.
There are several notable countries on the continent that do not have a stock exchange. The most notable is Ethiopia, although it does have a commodities exchange in Addis Ababa. In January 2021 a capital market bill was tabled to Ethiopian lawmakers that would establish a stock exchange through a public-private partnership.
The Management Company of the Stock Exchange (SGBV) is the only stock exchange of Algeria. It is in operation since 1997. Despite a 62% increase over one year SGBV remains one of the smallest stock exchanges in the world since 2011, because the four highly rated values total a market capitalization of 13,267,744,130 DA or about 13.3 billion AD (or 133 million euros).
Angola Stock Exchange and Derivatives (Bodiva) Angola
The Angola Stock Exchange and Derivatives (Bodiva; in portuguese: Bolsa de Valores e Derivativos de Angola) is a stock exchange in Angola, which is based in Luanda. First announced in 2006, the Stock Exchange was hoping to open during the first quarter of the 2008 fiscal year, though in August 2008 Aguinaldo Jaime said that the launch would be “a task for the next government… maybe late 2008 or the beginning of 2009”.
Due in part to the effects of the credit crunch, the earlier intention for the Angola Stock Exchange to open in early 2009 has been further delayed, with current indications that it was scheduled to open in 2010, with the intention to list 10 companies.
However in July 2013, Archer Mangueira, chairman of the Capital Markets Commission of Angola, said that Angola plans to start the Angola Stock Exchange trading on 2016.
On December 19, 2014, the Capital Market in Angola started. BODIVA (Angola Securities and Debt Stock Exchange, in English) received the secondary public debt market, and it is expected to start the corporate debt market by 2015, but the stock market should only be a reality in 2016.
The Botswana Stock Exchange (BSE) is a stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1994. It is governed by the Botswana Stock Exchange Act.
The BSE has 36 market listings and three stock indices: the Domestic company index (BSE DCI); the Foreign company index (BSE FCI), incorporating companies which are dual listed on the BSE and another stock exchange; and the All Company Index, which is a weighted average of the DCI and FCI. As well as equities, bonds and Floating Rate Notes are traded. Private investors are estimated to account for under 10% of the total market capitalisation. Foreign-based mining companies make up over 90%.
The exchange’s normal trading sessions are from 10:00 to 14:00 on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.
The Douala Stock Exchange (DSX in abbreviation) is the official market for securities in Cameroon. It is located in Douala.
The origin of the market in Douala began in a project sponsored by CEMAC having to do with creating stock exchanges in Gabon and Cameroon. CEMAC is the abbreviation for Economic and Monetary Community of Central Africa.
The Douala Stock Exchange was created in December 2001. The first listing was Société des eaux minérales du Cameroun [fr] (SEMC), a subsidiary of the French company Castel Group.
DSX is owned by Association professionnelle des établissements de crédit du Cameroun (APECCAM), (Credit Association of Cameroon); by Cameroonian corporate interests; and by the government. It is similarly governed:
APECCAM : 7 seats
Corporate : 2 seats
Government : 1 seat
Other : 1 seat
Until 2006, its sole listing was (SEMC). Now it also includes Société Africaine Forestière et Agricole du Cameroun (SAFACAM) and SOCAPALM.
The Bolsa de Valores de Cabo Verde (Cape Verde Stock Exchange) is the stock exchange of Cape Verde. It is located in the Achada Santo António district of Praia. The Cape Verde Stock Exchange (BVC) was established on May 11 1998 by governmental decision. At the end of 2017, the market capitalisation was 68.4 billion escudos, which equals 621 million euro.
The operating structure of the Cape Verde stock exchange combines the auctioning system with quote-driven systems in order to support larger market liquidity. The market deployed huge efforts to re-structure itself in line with the best practices and most relevant international guidelines. All platforms are credible ones and some are used by Euronext Lisbon and Interbolsa. The BVC is a member of the African Securities Exchanges Association.
The Egyptian Exchange (EGX), Established in 1883 Egypt‘s stock exchange, comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the chairman of the Egyptian Exchange is Mohamed Farid.
Transactions taking place in the stock exchange is not subject to capital gain tax. Dividends distributed by companies listed on the exchange to shareholders are not subject to tax. However, in 2013, a 10% capital gain tax applicable on mergers and acquisitions was imposed on the exchange. In 2013, Finance Ministry announced that the government intended to cancel a 10 percent capital gains tax imposed on mergers and acquisitions as well as a planned tax on cash dividends.
The Egyptian stock exchange plummeted 6.25% following the beginning of the Egyptian revolution of 2011 on 25 January. It closed at the end of trading on 27 January after the benchmark EGX 30 Index (EGX30) plunged 16 percent that week amid the uprising. The exchange reopened on Wednesday 23 March after being closed for almost 8 weeks. The market fell by a further 8.9% on reopening. The Egyptian Exchange is a member of the Federation of Euro-Asian Stock Exchanges.
Bourse des Valeurs Mobilières de l’Afrique Centrale (BVMAC) Gabon
The Economic and Monetary Community of Central Africa (or CEMAC from its name in French: Communauté Économique et Monétaire de l’Afrique Centrale, in Spanish: Comunidad Económica y Monetaria de África Central, and in Portuguese: Comunidade Económica e Monetária da África Central) is an organization of states of Central Africa established by Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon to promote economic integration among countries that share a common currency, the CFA franc. UDEAC signed a treaty for the establishment of CEMAC to promote the entire process of sub-regional integration through the forming of monetary union with the Central Africa CFA franc as a common currency; it was officially superseded by CEMAC in June 1999 (through agreement from 1994).
CEMAC’s objectives are the promotion of trade, the institution of a genuine common market, and greater solidarity among peoples and towards under-privileged countries and regions. In 1994, it succeeded in introducing quota restrictions and reductions in the range and amount of tariffs. Currently, CEMAC countries share a common financial, regulatory, and legal structure, and maintain a common external tariff on imports from non-CEMAC countries. In theory, tariffs have been eliminated on trade within CEMAC, but full implementation of this has been delayed. Movement of capital within CEMAC is free.
Angola (member of ECCAS and SADC, but not CEMAC)
Burundi (member of ECCAS and EAC, but not CEMAC)
Cameroon (member of ECCAS and CEMAC)
Central African Republic (member of ECCAS and CEMAC)
Chad (member of ECCAS and CEMAC)
Republic of the Congo (member of ECCAS and CEMAC)
Democratic Republic of the Congo (member of ECCAS and SADC, but not CEMAC)
Equatorial Guinea (member of ECCAS and CEMAC)
Gabon (member of ECCAS and CEMAC)
São Tomé and Príncipe (member of ECCAS, but not CEMAC)
The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities (from 37 companies) and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency. The GSE is located within the Cedi House in Accra.
The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya.
Maseru Securities Market (MSM) is an initiative of the Government of the Kingdom of Lesotho which is executed by the Central Bank of Lesotho. The MSM is therefore a non-profit making institution created to facilitate the centralised trading of financial securities in the Country. This initiative is part of a wider financial sector reforms aimed at improving financial sector in the country and to encourage the wider share ownership of previously privatized and majority of the companies in Lesotho and facilitate raising of medium to long-term capital.
The Libyan Exchange Stock Market (Arabic: سوق الأوراق المالية الليبي) officially opened in Tripoli, Libya, during March 2007. It is the first exchange of its kind in the country.
LSM was established by Suliman Alshahmy by Decision No. (134) of the General People’s Committee (GPCO), on June 3, 2006, to form a joint stock company with capital of 20 million Libyan dinars, divided into 2 million shares with a nominal value of 10 LD per share. The first phase focused on introducing financial definitions and rules, the addition of several workshop courses, and a series of agreements with the Amman Stock Exchange and Cairo & Alexandria Stock Exchange and the Egyptian Company for Clearance and deposit.
Listed market securities include the National Mills and Fodder Company, the United Insurance Company, Bank of deserts, and the Libyan Insurance Company, Sahari Bank, and the Hay Alandalus Domestic Bank. The volume of subscription on July 2, 2007, totalled 49539 shares, with a total value amounting to 346.773 LD.
The Malawi Stock Exchange (the MSE) is a stock market, with a single licensed broker is based in Blantyre, Malawi. MSE was inaugurated in March 1995 and opened for business for the first time on 11 November 1996, under the aegis of the Reserve Bank of Malawi, with 2,300 Malawian citizens buying shares in the first company to be listed – Malawi’s largest insurance firm, the National Insurance Company.
International Finance Corporation, a World Bank affiliate, and the Financierings Maatschappij Ontwikkelingslanden, a Dutch development bank with close ties to the Dutch Ministry for Development Co-operation, provided 40% of the $500,000 required for establishing the stock market in Blantyre, and the European Union sponsored seminars and publicity campaigns. The exchange operates in terms of the Capital Markets Development Act of 1990 and the Capital Market Development Regulations of 1992. It has a supervisory committee which comprises representatives of the central bank, the government and the private sector. It is a member of the African Stock Exchanges Association.
The Stock Exchange of Mauritius (SEM) (French: Bourse de Maurice); is an organization responsible for the operation of Mauritius’s primary stock exchange located at Port Louis. The SEM operates two markets: the Official Market and the Development & Enterprise Market (DEM). There are 40 companies listed on the Official Market representing a Market Capitalization of nearly US$5.3 billion, the DEM presently has 48 companies listed with a market capitalisation of nearly US$1.5 billion as at 31 July 2012. SEM is one of the leading Exchanges in Africa and a member of the World Federation of Exchanges
The Casablanca Stock Exchange (Arabic: بورصة الدار البيضاء; French: La Bourse de Casablanca) is a stock exchange in Casablanca, Morocco. The Casablanca Stock Exchange (CSE), which achieves one of the best performances in the region of the Middle East and North Africa (MENA), is Africa’s third largest Bourse after Johannesburg Stock Exchange (South Africa) and Nigerian Stock Exchange in Lagos. It was established in 1929 and currently has 19 members and 81 listed securities with a total market capitalisation of $71.1 billion in 2018.
The exchange is relatively modern, having experienced reform in 1993. The CSE installed an Electronic trading platform, and is now organized as two markets: the Central Market and a Block Trade Market, for block trades. In 1997 the CSE opened a central scrip depository, Maroclear.
The Namibian Stock Exchange (NSX) (Afrikaans: Namibiese Effektebeurs; German: Börse Namibia) is the only stock exchange in Namibia. Based in Windhoek, it is one of the largest stock exchanges on the African continent. It has a partnership with JSE in neighbouring South Africa. The NSX is only open on weekdays, and trades continuously from 09:00 to 17:00 (WAT), excluding public holidays.
The stock exchange operates under a license from the Namibian non banking financial regulator NAMFISA. The stock exchange is regulated by the Stock Exchanges Control Act (1985 and 1992).
Abuja Securities and Commodities Exchange (ASCE) Nigeria
The Abuja Securities and Commodities Exchange (ASCE) is (besides the Nigerian Stock Exchange) one of two principal stock exchanges in Nigeria. It is located in Abuja, the country’s capital, and it was founded in 1998.
The ASCE is primarily involved with the trading of commodities such as maize, sorghum and millet, as opposed to trading in securities such as bonds and company stock.
The Abuja Securities and Commodity Exchange has concluded plans to set up a market information system for 12 commodity markets in the country. The Managing Director, ASCE, Mr. Yusuf Abdurrahim said that within the next few months, the market information systems for the 12 major markets would be replicated in the 36 states and this would enable people get information about commodities prices as well as production of agricultural produce.
The Nigerian Stock Exchange (NSE) is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the main board, and 4 on the Alternative Securities Market (ASeM) board. In the Fixed Income market, the NSE has 84 FGN bonds, 21 state bonds, 27 corporate bonds, 1 supranational bond and 53 memorandum listings
The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company was officially launched on 31 January 2011.
The East Africa Exchange (EAX), also, East African Commodity Exchange, is a privately funded regional, agricultural commodities exchange in East Africa. It was launched in Kigali, Rwanda, in July 2014. EAX is the third-largest agricultural commodities exchange in Africa, behind the South African Futures Exchange and the Ethiopia Commodity Exchange.
MERJ Exchange is an innovative end-to-end, multi-market global financial exchange for equities, debt and derivatives. MERJ has expanded its capabilities by providing markets and services for security tokens and digital assets.
MERJ Exchange Limited is the operator of MERJ Exchange, the only licensed securities exchange in the Republic of Seychelles. MERJ has established and administers rules for the listing, trading, clearing and settlement of securities and other financial instruments.
MERJ Exchange Limited and its wholly owned group companies collectively operate the entire end-to-end exchange and post trade infrastructure, covering exchange, clearing, settlement, registry and depository services. This relatively unique set-up, along with the years of close collaboration and trust built with our regulators, has paved the way for MERJ to be an innovator and global leader in the exchange space.
Global trade is in the DNA of Seychelles, making it a fitting location for a global exchange. Seychelles lies at the heart of the old Indian Ocean trade routes which were traversed by Asian, Arab and African traders for centuries. Seychelles now boasts a modern international financial services portfolio, a forward thinking financial services regulator, low taxes, fibre optic connectivity and more, making it the ideal location from which to operate a modern, global exchange.
The Somali Stock Exchange (SSE), also known as the Somalia Stock Exchange, is the national bourse of Somalia founded by SEF. The Somalia Stock Exchange was founded in 2011. It was established to attract investment from both Somali-owned firms and global companies in order to accelerate the ongoing post-conflict reconstruction process in Somalia.
In August 2011, the SSE signed a Memorandum of Understanding with the Nairobi Securities Exchange (NSE) to assist it in technical development. The agreement includes identifying appropriate expertise and support. Sharia compliant sukuk bonds and halal equities are also envisioned as part of the deal as Somalia’s nascent stock market develops.
As of November 2014, the Somalia Stock Exchange has established administrative offices in Mogadishu, Hargeisa, Garoowe, Kismayo, and other urban centers in Somalia. It also maintains a bureau abroad in Nairobi, where qualified Somali stockbrokers and staff are being trained.
According to the SSE management, the bourse is slated to officially open in 2015. Initially, seven Somali-owned firms from the financial services, telecommunications and transportation sectors are expected to list their shares therein for prospective global investment.
JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 the JSE had an estimated 473 listed companies and a market capitalisation of US$182.6 billion (€158 billion), as well as an average monthly traded value of US$6.399 billion (€5.5 billion). As of August 2020, the market capitalisation of the JSE was at US$1,005 billion.
A2X Markets was founded by Sean Melnick, Ashley Mendelowitz and Kevin Brady, individuals with experience in financial markets and technology. Their goal was to create a new South African exchange to bring healthy competition to the South African Marketplace.
A2X is an MTF styled stock exchange that was awarded a licence to operate an exchange by the Financial Services Board, now Financial Sector Conduct Authority (FSCA) on 6 April 2017. On 6 October 2017, A2X debuted with 3 listings African Rainbow Capital, Peregrine Holdings and Coronation Fund Managers and a combined market cap of R14 billion.
4AX was founded in response to South Africa’s transitioning capital markets. Their exchange license (to list both equity and debt) was granted in August 2016 and formally commenced operations on 1 March 2017.
ZAR X is a licensed stock exchange that uses disruptive fintech to create a more efficient market for all. The right technology can remove barriers, reduce costs, save time, all while creating new opportunities. At ZAR X, we develop technology that’s intuitive, easy-to-use, and visually engaging to replace manual processes that hinder efficiency and performance. We have pioneered T+0 (Realtime) settlement in South Africa. At ZAR X, transparency is more than just a buzzword. It is a vital part of being a participant in today’s capital market space where customers want to know how their orders are handled and how their information is protected. ZAR X has spent significant time and resources implementing a global technology solution to enhance the level of transparency and control that our Market Participants and Investors have when interacting with us. Through this work, we know that transparency is not simply a ‘check the box’ exercise to set and forget. It is a continual process of assuring customers that their need for safe and efficient execution is being met as markets evolve.
Equity Express Securities Exchange (EESE) South Africa
On the 12th September 2017, the Financial Services Board granted Equity Express Securities Exchange (Pty) Limited (EESE) an operational stock exchange licence. EESE is the first independent black owned equity exchange in the country.
The Khartoum Stock Exchange is the principal stock exchange of Sudan. It is located in Khartoum and its name is abbreviated to KSE. The principal stock index of the KSE is the Khartoum Index.
The idea of KSE started in 1962 by Ministry of finance, bank of Sudan and International Finance Corporation (IFC). On 1964 a department for government bonds was established within the Bank of Sudan for issuing bonds. In 1966 the first government bonds were issued with a par value of 15 million Sudanese pounds and ten years life. The 1982 Act to establish KSE did not succeed. However, a serious step was taken in 1992 to establish KSE which led to the formation of KSE’s board. It was in 1994 that KSE gained its independent legal entity after the endorsement of KSE Act. In 1994 the primary market activities started and the secondary market stated early in 1995. The classifications of listed companies began in 1999. In 2001 Shahama certificates were introduced in KSE. Khartoum index was declared in 2003. In 2007, KSE joined Africa Market Union.
While the KSE has been growing rapidly over the last few years and has 53 listed companies worth around 5 Billion dollars, the stock exchange is open only one hour per day, Sunday through Thursday.
The Eswatini Stock Market is a small but thriving stock exchange. The stock exchange was established in July 1990 by Sibusiso Dlamini, a former World Bank executive who became Eswatini’s Prime Minister, to enable ordinary Swatis to become stakeholders in their economy. All listings are included in the sole index, the ESE All Share Index, which is unweighted. There are a handful of listed public companies, as well as some listed government stock options, listed debentures, government guaranteed stock and non trading mutual funds.
Exchange Control approval is required for foreigners wishing to invest on the stock market.
Stockbrokers on the Exchange are licensed by the Financial Services Regulatory Authority (FSRA) and there is no regulation regarding the foreign ownership of brokerage firms.
The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association and the World Federation of Exchanges. The exchange is open five days a week, from Monday through Friday. The trading days are weekly from Monday to Friday, starting from 10.00 am to 14.00 pm.
The activities of the exchange are monitored and supervised by the Capital Markets and Securities Authority (CMSA). The DSE operates in close association with the Nairobi Securities Exchange in Kenya and the Uganda Securities Exchange in Uganda. Plans are underway to integrate the three to form a single East African bourse.
The Bourse des Valeurs Mobilières de Tunis (BVMT) or Bourse de Tunis (Arabic: بورصة تونس) is a stock exchange based in Tunis, Tunisia. It was founded in 1969, and currently lists around 50 stocks.
The exchange is under the control of the state-run Financial Market Council. The government has provided tax breaks to increase the number of listings, but companies have been slow in going public. The creation of the award was in February 1969. Although this creation is relatively old, the role of the stock market in financing Tunisia’s economy has remained limited or insignificant due to the dominance of the state and banks . This results in significant levels of money creation and inflation.
This period is characterized by ease of access to bank loans and state aid, a very advantageous remuneration of deposits with banks that are regulated, protected and exempt income and a fairly heavy taxation of stock market investments.
The award will be increasingly seen as a registrar of transactions as a mirror of the economy having its place in the corporate finance. Moreover, the market capitalization represents just 1% of GDP at the end of 1986.
As part of the structural adjustment plan, a financial market reform started in 1988 with the aim of establishing a legal framework allowing the market to contribute to the financing of the economy. Deposits with banks are taxed, the rates of interest on deposits are falling as a result of lower inflation and savings in securities enjoys favorable taxation with the abolition of taxation on most -values and dividends. The tax on corporate profits also down 80% to 35%. To meet international standards, reform is adopted with the promulgation of the Law of 14 November 1994 on the reorganization of financial market. This law creates the new public regulator: the Financial Market Council, which began operations on 15 November 1995. Following this major reform of the Tunis Stock Exchange that establishes the foundations of a financial market, potentially able to finance part of the economy, the situation continues to evolve fifty companies listed in March 2009, for a market capitalization of up to 8.7 billion dinars (against 3.1 billion in 2004) or 16% of national GDP.
The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda’s Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda’s central bank.
The exchange opened to trading in January 1998. At that time, the exchange had just one listing, a bond issued by the East African Development Bank. Trading was limited to only a handful of trades per week.
As of July 2014, the USE traded 16 listed local and East African companies and had started the trading of fixed income instruments. The exchange is a member of the African Stock Exchanges Association.
The USE operates in close association with the Dar es Salaam Stock Exchange in Tanzania, the Rwanda Stock Exchange, and the Nairobi Stock Exchange in Kenya. According to published reports in 2013, there were plans to integrate the four exchanges to form a single East African bourse. Uganda All Stock Index (ALSIUG) is the benchmark Index of the Uganda Securities Exchange.
The ALTX East Africa Exchange (ALTX) is a stock exchange in Uganda. The ALTX operates under the jurisdiction of Uganda’s Capital Markets Authority, which in turn reports to the Government of Uganda.
Its operations are entirely electronic, with all transactions completed online. The exchange lists foreign securities, bonds, and exchange traded funds. The exchange opened to trading on 13 July 2016. It accepts trades as low as US$3, targeting investors of modest means. ALTX East Africa Exchange expanded its operations to Uganda after obtaining a regulatory approval in 2014, and depository approval in 2015. ALTX is a demutualised exchange wholly owned by ALTX Africa Group, a Mauritius based entity that also owns ALTX Clearing. GMEX Technologies of the United Kingdom owns 25 percent of ALTX Africa Group. Other investors include Joseph Kitamirike, the chief executive officer and co-founder of ALTX East Africa, and Jatin Jivram, director and co-founder of ALTX East Africa.
The Lusaka Stock Exchange (abbreviated to LuSE) is the principal stock exchange of Zambia. Founded in 1993, it is located in Lusaka. The LuSE is a member of the African Stock Exchanges Association. It was established with preparatory technical assistance from the International Finance Corporation (IFC) and the World Bank in 1993. The Exchange opened on 21 February 1994. In its first two years of operations, the LuSE and Securities and Exchange Commission (SEC) were funded by the UNDP and Government of Zambia as a project for financial and capital market development in Zambia, under the multi-component private sector development program.
Africa Digital Stock Exchange Limited (ADSEL) is a traditional securities trading platform. By virtue of mature IPO and risk control management, in different stages, the securities trading, assets optimization and other financial services are provided to the customers.
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. Its history dates back to 1896 but has only been open to foreign investment since 1993. The exchange has about a dozen members, and currently lists 63 equities. There are two primary indices, the ZSE All Share and the ZSE Top 10. The first stock exchange in Zimbabwe opened shortly after the arrival of the Pioneer Column in Bulawayo in 1896. However, it only operated for about six years. Other stock exchanges were established in Gwelo (Gweru) and Umtali (Mutare). The Mutare Exchange, also opened in 1896, thrived on the success of local mining, but with the realization that deposits in the area were not extensive, activity declined and it closed in 1924. After World War II, a new exchange was founded in Bulawayo by Alfred Mulock Bentley and dealing started in January 1946
Permission to use quotation from any article is granted subject to full credit of the source being given by referencing the direct link of the article on NYONGESA SANDE However, reproducing any content on this site without explicit permission is strictly prohibited.