The African Development Bank (AfDB) group together with Bourse Africa Limited, are expected to host a three-day PAN-African workshop for regulators of derivatives and commodities exchanges in Gaborone next week.
According to a communique from AfDB, the workshop that will be held from July 25-27 will seek to align the African regulatory agenda with developments at a global level.
The workshop which will also be supported by Botswana Investment Trade Centre (BITC), is expected to provide African regulators with strategic and technical information to assist in the development of robust and efficient regulatory frameworks that meet prevailing international standards.
Bourse Africa Limited is a Botswana-domiciled company, accredited under the International Financial Services Centre (IFSC) framework and administered by BITC.
It establishes from its hub in Botswana, a pan-African network of derivative and commodity exchanges, aiming to stimulate development of African commodity and financial markets.
It also drives regional integration agenda as well as delivering benefits to public and private sector stakeholders, including actors such as smallholder farmers, cooperatives, SMEs, banks and the import-export trade.
Furthermore, the release states that in the wake of the global financial crisis, the international policy discourse recognises that derivatives are critically important risk management instruments for commodity chains, companies, banks, financial institutions and investors.
The press release also states that outside South Africa, derivatives exchanges and CCPs do not exist in Africa. However, it says there has been growing realisation that efficient financial and commodity markets are a prerequisite for equitable, inclusive and sustainable development.
That, it says has been manifested in key policy documents, including the African Union’s Arusha Plan of action and declaration on African commodities 2005, as well as in the final communiqué from COMESA-EAC-SADC tripartite summit of head of state and government, 2008.
Botswana as the host, looks forward to welcoming esteemed representative from African regulators, central banks and ministries together with regional economic commissions and international organisations.