JSE/Nairobi MOU To Deepen Ties For African Investment

• The Jamaica Stock Exchange (JSE), in paving the way for more cross-border listings locally, has signed its latest memorandum of understanding (MOU) with the Nairobi Securities Exchange (NSE) in Kenya in a move to forge stronger ties with Africa.
• In welcoming the historic partnership, the managing director of the JSE, Marlene Street Forrest, said it unlocks an enormous opportunity for the cross-listing of stocks and other investments by locals in the African country and vice versa.
• The JSE, now partnering with a growing list of countries across Africa, signed an MOU with Ghana last year and remains in dialogue with other states, such as Sierra Leon, as it works to strengthen African-Caribbean relations. Banking on the tenets of commonality, a shared past, and common objectives, markets across both regions believe they can work together for the common good.
• Ugas Mohamed, chair of the Capital Markets Authority in Kenya, mentioned that the key areas targeted for collaboration under the recent MOU were capacity building through knowledge transfer, joint training programmes, and possible cross-listings.
• The JSE aims to build out its green bond portfolio in 2024 and expressed an interest in learning from the NSE’s experience in this area. Importantly, this collaboration will unlock new opportunities for Jamaica, enhance market liquidity, and provide investors with diversified and innovative product offerings.

(Source: JSE)