Africa-Press – Eswatini. Today, the Eswatini Government will have its ‘bell-ringing’ moment to signal its listing on the Johannesburg Stock Exchange (JSE).
The ceremony will be held at the JSE headquarters at Mandela Square in Johannesburg, South Africa.
Minister of Finance Neal Rijkenberg, Governor of the Central Bank of Eswatini (CBE) Dr Phil Mnisi and other senior officials from the Ministry of Finance and the Central Bank will witness the historic occasion.
As earlier announced, the government of Eswatini has listed a bond of E4 billion in the JSE under what is known as the ‘Protea Bond’ segment. This listing provides a unique offering that describes South African-denominated bond issuances by foreign governments on the JSE. Already, Eswatini is reaping the benefits of its listing, following the issuance of the first E400 million bond under the programme.
Tapping
Today’s historic announcement cements the remarkable leap that government has taken in tapping into new sources of raising capital to meet its budgetary obligations. The listing will provide investors with a convenient and transparent platform to trade and invest in the kingdom’s Protea Bond.
The ringing of the bell event will be characterised by a congratulatory message to be shared by the JSE team, as well as a keynote address from Sam Mokorosi, Head of Origination and Deals, JSE. There will also be a countdown to the market opening, prior to an official address to be made by the minister of Finance, who is also expected to receive a trophy and certificate on behalf of government as an officiation of the listing.
In an earlier interview, the minister had said, “The listing on the JSE represents a key milestone for the Government of the Kingdom of Eswatini and provides an opportunity for the kingdom to introduce itself to the international investment community.
“This programme will help us diversify our funding sources, contribute to regional economic integration initiatives, and raise the necessary capital required for us to meet our infrastructure and developmental needs. Choosing to list in the South African market represents a demonstration of our confidence in the South African markets given our participation in the Common Monetary Area and strong economic links with South Africa.”
Streamed
The event will be live-streamed on the CBE Facebook page from 8.30am today. According to a statement from the JSE, the JSE’s bond market is the largest and most liquid on the continent, with a consistent yield above 20 per cent since 2022. Through the Protea Bonds, the bourse aims to further bolster this position as it continues to expand its product offering.
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