Stock exchanges in South Africa, Kenya, and Nigeria plan more ETF cross-listings

South Africa, Nigeria and Kenya are planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities, according to the Johannesburg Stock Exchange.

“We reached out to East Africa and West Africa,” Tamsin Freemantle, business development manager of the South African bourse, said in an interview May 14 in the Kenyan capital, Nairobi. The JSE is “working closely with those markets to develop this cross listing,” she said.

African exchanges are looking to increase cooperation as companies from Botswana to Nigeria list their shares on other bourses. The JSE, with a market value of 10.7 trillion rand ($902 billion), has rallied 8.9 percent this year in the best performance after Botswana among 14 sub-Saharan exchanges tracked by Bloomberg. Nigeria’s main index has dropped 0.6 percent, while the Nairobi all-share measure is up 3 percent.

Read more: South Africa, Kenya, Nigeria Plan More ETF Cross-Listings – Bloomberg Business