Africa-Press – Botswana. The Africa Continental Free Trade Area (AfCFTA) provides great opportunities for the African continent to expand by creating a large market, economies of scale and increased competitiveness.
Speaking during the 27th African Securities Exchange Association (ASEA) conference in Tlokweng on Thursday, Vice President Mr Ndaba Gaolathe said the opportunities would allow for the investment in the African markets and firms and most importantly presenting a platform for the markets to redefine and surpass global standards by blending technological advancement with uniquely African solutions.
“Within the broader financial sector, mobile money platforms and e-economy have demonstrated the ability to leapfrog development pathways. By fostering collaborations between public and private partnership sectors, Africans can create capital markets that are not only globally competitive but also distinctively African in their character and resilience,” said Mr Gaolathe.
He said 29 African countries have stock exchanges, which was a clear reflection of the continent’s growing financial sophistication, economic stability and a strong drive towards great economic integration.
Mr Gaolathe said the conference delegates convened to build a legacy with revered vigour and shared ambition. He said it was a significant milestone for Botswana and the BSE. Held under the theme: Fostering Transformation In Capital Markets Through Innovation, the conference aims to gather industry leaders to shape the future of Africa’s capital markets.
Mr Gaolathe said there was need to insulate Africa’s capital markets from systematic shocks to being progressively innovative.
“Africa is at a pivotal moment with a population projected to reach 2.5 billion and the world’s largest working age cohort and a promise of AfCFTA Africa is poised for an economic renaissance. Capital markets must be at the heart of this transformation,” said Mr Gaolathe.
Botswana Stock Exchange (BSE) chairperson, Ms Neo Mooki described the conference as a reflection and catalyst for progress.
“This conference is more than an event, it is a moment of reflection and a catalyst for progress. Together we stand at the intersection of challenges and opportunities in Africa’s capital market,” she said.
Ms Mooki said themes like innovation, sustainability and regional integration were not just buzz words but imperatives for unlocking the full potential of the African capital markets.
She said the conference provided the platform to address the key issues such as limited liquidity, market accessibility and the alignment with global standards.
Ms Mooki said government was committed to advancing capital markets and underscored Botswana’s pivotal role in the financial landscape.
“Through insights shared here we can collectively work to transform Africa’s capital markets into engines of economic growth and platforms of opportunities. The theme reflects a shared passion amongst all of us,” said Ms Mooki.
ASEA president, Mr Pierre Rwabukumba, discussed key priorities and strategies for advancing the continent’s capital markets.
He said the gathering empowered delegates to align the diverse markets into a unified vision building resilient, transparent and inclusive capital markets opening new pathways and being a driving force in advancing Africa’s growth potential.
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