By Adama Wade
In a world where financial markets are increasingly interconnected, Africa is taking a major step forward. On Thursday, November 23, 2024, during the 30th anniversary celebration of the African Securities Exchanges Association (ASEA) in Nairobi, a historic event occurred: for the first time, shares listed on the Nairobi Stock Exchange were traded on the Regional Securities Exchange (BRVM). This moment marked a giant leap in African economic integration.
This operation, which took place under the watchful eye of Kenyan President William Samoei Ruto, illustrated the immense potential for collaboration between African financial markets. It was carried out through the AELP (African Exchanges Linkage Project) platform, launched in Abidjan in 2022, demonstrating its effectiveness and ability to facilitate cross-border exchanges.
The initiative involved 2,000 shares of Safaricom, a Kenyan telecommunications company. The BRVM, represented by the Management and Intermediation Company, FGI of Senegal, and the Nairobi Stock Exchange, by Dyer and Blair Investment Bank, successfully conducted the transaction. The general manager of the BRVM, Edoh Kossi Amenounvé, had made the integration of African financial markets his battle horse during his two terms at the head of the African Securities Exchanges Association (ASEA).
This success is not just a victory for the BRVM and the Nairobi Stock Exchange, respectively the 5th and 6th African stock exchange in terms of capitalization, but for the entire continent. It demonstrates that Africa can unite its forces to play a more significant role in the global economic arena.”
