BUSINESSNews

Ghana and Nairobi Stock Markets Linked Through New Technology Platform


Technology company SecondSTAX, has successfully linked the Ghanaian and Kenyan stock markets, allowing corporations to trade on both entities with ease.

The ground-breaking platform is the first-of-its kind and has the potential to significantly impact trading, injecting more capital into the market. The Nairobi Stock Exchange(NSE) and the Ghana Stock Exchange (GSE) are among Africa’s most active, but the siloed nature of these exchanges and insufficient data has led to limited access to capital.

Through this initiative, licensed broker-dealers, asset managers, large commercial banks and other institutional investors from across the continent will find it easier to invest into Ghana and Kenya’s premier exchanges via SecondSTAX’s transparent, easy-to-use, cloud-based portal. Investors will also be able to invest in their native currencies, making a wider range of assets and opportunities available to more Africans and creating an efficient route to increased wealth on the continent.

The company based in Accra, Ghana says that it is “building tools for investment firms to enable and enhance intra-Africa capital and investment flows, reducing the siloed state of African stock and bond markets.

“SecondSTAX provides investment firms with an easy-to-use and efficient route for wealth in Africa and global capital to fund investments in a wider range of African countries.”

CEO and co-founder of SecondSTAX, Eugene Tawiah, says that they foresee a solution that will allow all the capital currently restricted to individual markets to flow across the continent.

“We are doing this in Africa for Africans across the continent, and these partnerships with the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE) are the first steps in our journey,” he said.

NSE Chief Executive Officer Geoffrey Odundo said, “These linkages are good as they will create a bigger market in Africa and will allow cross-border trading. Investors in Ghana who want to trade in Kenya will have a straight-through process.”

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Simon W Nderitu

Simon is a tech enthusiast who keeps a close eye on emerging technologies, startups and the general business environment. You will often catch him totally immersed and drooling over Artificial Intelligence, Machine Learning, Virtual Reality, Augmented Reality, IoT and just about any other tech that promises to revolutionize the way we live. Send tips to snderitu@techtrendske.co.ke

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