CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Botswana Stock Exchange Critical Of JSE Regional Proposals

Botswana Stock Exchange Critical Of JSE Regional Proposals

by Robert Lee, Tax-News.com, London

03 September 2003


The Botswana Stock Exchange issued sharp criticism of its counterpart in Johannesburg last week claiming the JSE's plan to allow smaller exchanges from neighbouring country's to trade on the larger South African bourse is merely an attempt to boost its own trading volumes and usurp regional business.

Speaking at a press conference in Gabarone last Friday, BSE chief executive officer Tebogo Matome said that whilst he was not against the idea of a pan-African stock exchange in principle, he objected to the JSE's plan as it would lead to the South African exchange dominating its neighbours in the Southern African Development Community (SADC).

According to Matome, the JSE plan would lead to a drying up of trading volumes in the smaller bourses with capital inevitably flowing to the larger exchange. He also pointed to the fact that only three of the ten exchanges within the SADC have expressed support for the JSE proposals.

"The JSE is attempting to apply pressure on the smaller Southern African Development Community (SADC) exchanges into accepting an unreasonable proposal, which will allow the JSE to siphon off order flow from the smaller... exchanges in an effort to boost their own trading volumes and revenue," the BSE said.

"It is for these reasons that the BSE has objected to the concept of a JSE-sponsored regional market and will continue to work with other regional exchanges of similar size to create a hub," added Mr Matome.

"The BSE is not prepared to trade its decade-long exceptional performance and ability to operate markets that are fair and equitable for a subservient role in a JSE-dominated market," declared the BSE chief.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »