Tsheole appointed chairman of SADC stock exchanges committee
Chief Executive Officer (CEO) of Botswana Stock Exchange (BSE) Thapelo Tsheole has been elected Chairman of the Committee of SADC Stock Exchanges (CoSSE), a position he will assume for the next two years. Chief Executive Officer of the Malawi Stock Exchange, John Kamanga hason the other hand been elected as Deputy Chairman. The election took place at the just ended 53rd CoSSE meeting held last week in Maseru, Lesotho. Tsheole’s new role as Chairman of CoSSE would avail him an opportunity to grow and develop stock exchanges within the SADC region.
He will oversee and facilitate activities amongst the 14 stock exchanges from 13 southern African countries. CoSSE was formed in 1996 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.
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 harmonized securities market environment within the SADC region. Some notable market development projects that CoSSE has worked on include increasing trading within members, harmonization of listings requirement to promote listings and increase the quality of the rules, collaboration with the SADC Banking Association on an initiative to develop a SADC Delivery versus Payment (Depp) settlement model which would be used for the settlement of cross-border securities.
The committee also worked on the SADC Interconnectivity Hub Project, the first phase of which was the organisation of the SADC Brokers’ Network Session in 2016. Following this session, CoSSE launched a regional portal that provides SADC exchanges and brokers with a centralized platform to encourage broker interaction with the hope of increasing cross border trades within the region. The portal facilitates the flow of information related to each SADC market.