This archive report was first published on 3 December 2019.
On November 26th, 2019, Kenya, Nigeria, Egypt, Morocco, and Mauritius signed a historic agreement to form the African Stockbrokers and Securities Dealers Association (ASSDA). This groundbreaking move aims to facilitate cross-border trading in Africa, connecting the financial markets of these five countries.
As part of the agreement, ASSDA will engage with regulators and governments to address the pressing issue of liquidity and depth in Africa's financial markets. This collaborative effort seeks to create solutions that cater to the unique needs of African investors.
By promoting Pan-African investment and actualizing the goals of the African Exchange Linkage Project (AELP), ASSDA aims to connect African stock markets and deepen local financial markets through cross-border trading.
According to a press release, ASSDA supports the overarching goal of boosting Pan-African investment flows, promoting innovations that support diversification needs of investors in Africa, and helping address the lack of depth and liquidity in Africa's financial markets.
ASSDA will be an association of other associations whose members deal in securities in different forms. The African Development Bank (AfDB) will serve as an observer member in the association.
As part of its mission, ASSDA will work closely with the African Exchange Linkage Project to link stock exchanges and create a central trading platform for participating exchanges.
