Home Business Southern Africa: SADC Stock Exchanges Re-Elects Tsheole Chairperson

Southern Africa: SADC Stock Exchanges Re-Elects Tsheole Chairperson

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Gaborone — Botswana Stock Exchange (BSE) chief executive officer, Mr Thapelo Tsheole, has been re-elected chairperson of the Committee of SADC Stock Exchanges (CoSSE) with immediate effect.

A press release from BSE says Malawi Stock Exchange chief executive officer, Mr John Kamanga has also been re-elected as deputy chairperson of CoSSE.

Both re-elections, the release states, took place at the just ended 57th virtual CoSSE meeting held on October 20.

According to the release, CoSSE was formed in 1997 with the objective of improving the operational, regulatory and technical underpinnings and capabilities of SADC Exchanges in order to make their securities markets more attractive to both regional and international investors.

It further states that the committee also aims to increase market liquidity and enhance trading in various securities and financial instruments, as well as encourage the development of a harmonised securities market environment within the SADC region.

Currently, the committee comprises of 14 stock exchanges from 13 SADC countries, says the release.

Commenting on the re-election, Mr Tsheole said, ‘i am overwhelmed by the resounding support from my fellow colleagues on entrusting me to lead this exceptional committee for another two years.

The development of regional securities exchanges remains high on the committee’s agenda.’

“It is the collective effort of exchange members to collaborate and work together to foster synergies that would serve to promote harmonisation in a bid to promote cross-border listings amongst members, encourage the transfer of securities markets’ intellectual capital and technical expertise among member exchanges, increase liquidity for regional exchanges and strive towards development of efficient, fair and transparent securities markets within the SADC region,” he further said.

In addition, it highlights some of the notable achievements during Mr Tsheole’s tenure which include his efforts in securing funding for the Committee from three international developmental bodies that will be used to develop SADC capital markets, improve macroeconomic stability and promote financial market integration and enhance financial inclusion.

Source: BOPA

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