Botswana Stock Exchange Limited (BSE) said its chief executive officer, Thapelo Tsheole, has been re-elected as the Chairperson of the Committee of SADC Stock Exchanges (CoSSE) with immediate effect.
According to BSE, John Kamanga, who is the CEO of the Malawi Stock Exchange, has also been re-elected as Deputy Chairperson of CoSSE.
Tsheole said through the support of the member exchanges, they can achieve the goals they have set themselves.
“I am overwhelmed by the resounding support from my fellow colleagues on entrusting me to lead this exceptional Committee for another two years. The development of regional securities exchanges remains high on the Committee’s agenda,” Tsheole said when accepting the challenge.
“It is the collective effort of exchange members to collaborate and work together to foster synergies that will serve to promote harmonisation in a bid to promote cross-border listings amongst members, encourage the transfer of securities markets’ intellectual capital and technical expertise among member exchanges, increase liquidity for regional exchanges and strive towards development of efficient, fair and transparent securities markets within the SADC region. I am confident that with the support of the members, we can achieve our goals,” he added.
CoSSE was formed in 1997 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 harmonised securities market environment within the SADC region. Currently, the membership of the committee comprises 14 stock exchanges from thirteen (13) SADC countries.
Both Tsheole and Kamanga’s re-elections took place at the just ended 57th virtual CoSSE meeting held on 20th October, 2020. His new tenure will run until March 2022.
Some of the notable achievements during Tsheole’s tenure include his efforts in securing funding for the Committee from three (3) international developmental bodies that will be used to develop SADC capital markets, improve macroeconomic stability and promote financial market integration and enhance financial inclusion. Further, there has been significant improvement in market and product developments in the SADC region.