Vice President and Minister of Finance, Ndaba Gaolathe will officially open the African Stock Exchanges Association (ASEA) Conference, which will take place at the Royal Aria Hotel in Gaborone from November 27 to 29.
Gaolathe, a respected economist and politician, plays a pivotal role as Vice President and Finance Minister under the administration of President Advocate Duma Boko. This administration came to power after the coalition Umbrella for Democratic Change staged a stunning victory over the Botswana Democratic Party in the October elections.
The 2024 ASEA Conference, held under the theme “Fostering Transformation in Capital Markets through Innovation,” is expected to unite Africa’s leading securities exchanges to strategise and enhance capital markets across the continent.
African stock exchanges collectively have a market capitalisation of approximately $1.6 trillion, representing about 2 percent of the global stock market. ASEA, established in 1993, currently comprises 28 members representing 32 African economies. Its mission is to provide a platform for member exchanges to address key challenges in African capital markets, including shallow and illiquid markets, limited listings, inadequate capital inflows, and data issues.
The association also serves as an authoritative information hub on African public markets, offering aggregated statistics and insights on African exchanges. Additionally, it acts as a strong lobbying and advocacy body for its member exchanges.
Among the delegation is Pierre Celestin Rwabukumba, President of the African Securities Exchanges Association and CEO of the Rwanda Stock Exchange. He is expected to officially welcome guests on behalf of ASEA, while Neo Mooki, Chairperson of the Botswana Stock Exchange, will deliver a welcome address on behalf of the host exchange.
Emily Mburu-Ndoria, Director of Trade in Services, Investment, IPR, and Digital Trade at the African Continental Free Trade Area (AfCFTA), is one of the high-profile delegates. She will deliver a keynote address expected to highlight opportunities provided by the AfCFTA and explore how African stock exchanges can position themselves to benefit from the free trade area, which grants member states access to over one billion people.
Other exchanges, such as NASDAQ, and federations, including the Arab Federation of Capital Markets, will also participate.
The ASEA Conference has attracted key capital market experts, including Pedro Guazo, CEO and Representative of the United Nations Secretary-General at the United Nations Global Pension Fund Investment Office.
The event will feature top-tier panel discussions covering critical topics such as boosting liquidity in African stock exchanges, the future of Africa’s capital markets, deepening capital markets through ESG, data, and governance, innovations to democratise and customise African capital markets, enhancing market efficiency through AI and fintech solutions, accelerating the SME agenda in Africa, and strategies for attracting investors. CEOs of stock exchanges, asset management firms, banks, regulators, corporate leaders, and economic analysts will contribute to the discussions.
Acting BSE CEO Kopano Bolokwe expressed his excitement about the conference being fully booked, with the potential to exceed capacity. He noted that the event aligns with the Botswana government’s strategy to make Meetings, Incentives, Conferences, and Exhibitions (MICE) a significant contributor to the country’s GDP.
During his State of the Nation Address (SONA) this week, President Advocate Duma Boko highlighted MICE as a priority area that could boost tourism revenue while creating an economic value chain benefiting all sectors of the economy.
“MICE represents a vital segment of the global tourism industry, playing a crucial role in economic development and international exchange,” Bolokwe said.
Botswana, renowned for its diverse wildlife, rich culture, and stable political environment, holds immense potential to become a hub for MICE tourism on the African continent. President Boko believes hosting MICE events can significantly boost Botswana’s revenue streams.
The influx of international delegates to MICE events, such as the ASEA Conference, translates into increased spending on accommodation, transportation, dining, and local products, thereby stimulating the local economy. Bolokwe emphasised that the 300-plus delegates are expected to make significant contributions to hotels, restaurants, and other sectors, driving the economic impact envisioned by President Boko.
He also highlighted that an effective MICE strategy could generate employment across various industries, including hospitality, transportation, event management, and local crafts.
