Africa-Press – Eswatini. Eswatini Stock Exchange (ESE) Acting Head Bongile Kunene says the listing of Nkonyeni Pre-Cast (NPC) Limited will increase ESE market capitalisation.
unene stated that throughout their existence from 2003, they have had seven listed companies which yesterday would have eight with the addition of NPC. The seven companies that have been listed on ESE are Nedbank Eswatini, Royal Eswatini Sugar Corporation (RES Corp), Swaziland Empowerment Limited (SEL), Swaziland Property Limited (SWAPROP), Greystone Partners, SBC Limited and Inala Capital.
The market capitalisation of the ESE as at September 30, 2023 stood at E4.4 billion. “With the listing of NPC this figure will increase,” said Kunene. She added that to improve the trading environment; the ESE has worked collaboratively with the Market Committee, Financial Services Regulatory Authority (FSRA) and the Ministry of Finance to ensure automation of the ESE.
Effect
She said to that effect, the ESE had in 2022, introduced its Automated Trading platform through the use of the ATS, which was in synchronisation with international and regional markets.She mentioned that they have also reviewed their listing requirements, rulebook, debt listing requirements in 2022 to ensure that they were aligned with international standards and were in a competitive footing with other regional stock exchanges.
“This furthers ESE’s strategic objectives, which are market growth through automated trading to inter – alia achieve financial inclusion and investor empowerment,” said Kunene. Kunene said they were intent as the ESE to drive domestic and international investment to attain His Majesty’s Vision and contribute to the eradication of povert.
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