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AfricaMoney | October 18, 2017

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Mauritian exchange GBOT eyes continent coverage

Mauritian exchange GBOT eyes continent coverage, rebrands to Bourse Africa

A pioneering pan-African focused trading venue, Bourse Africa aims to serve the needs of the growing African financial markets environment. (Image: Business Daily Africa)

Mauritius’s first international multi-asset class exchange, formerly known as Global Board of Trade Ltd (GBOT), will now be called Bourse Africa. A pioneering pan-African focused trading venue, Bourse Africa aims to serve the needs of the growing African financial markets environment.

Not merely a change in name, the shift to Bourse Africa symbolizes the larger focus of the exchange towards Africa and the opportunities offered by the African Financial and Commodities Markets.

Africa, home to over 1 billion people, presents a significant opportunity indeed. The emerging continent is experiencing its longest income boom for 30 years, with gross domestic product growth rates averaging about 5 per cent annually over the past decade. Even as markets elsewhere face slowdown woes, the continent’s income is projected to increase by around 4.5 per cent in 2013.

The International Monetary Fund sees Africa as the base of the world’s fastest-growing economy across continents during the next five years. IMF forecasts also show that seven of the world’s 10 fastest-growing economies will be African, with Ethiopia, Mozambique, Tanzania, Congo, Ghana, Zambia and Nigeria expected to expand by more than 6 per cent a year until 2015.

Bourse Africa can play a pivotal role in creating a uniform business environment for the African continent. The exchange expects new members to join, with applications in process from firms from South Africa, Ghana and Dubai as well established global players. The exchange has been in contact with neighboring exchanges in Kenya and Ghana.

Besides Africa, Bourse Africa endeavors to provide international market participants as well with an efficient market for risk management, trading, investing and capital raising needs. The exchange offers a state-of-the-art electronic trading platform with efficient clearing and settlement systems.

Bourse Africa is promoted by the Financial Technologies Group, a global leader in setting up and operating tech-centric next generation exchanges in the emerging but fast growing economies. These exchanges are complemented by the Group’s Ecosystem ventures which address opportunities around exchanges in the areas of clearing, depository, information vending and payment gateway, among others.

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