Webinar Replay: Connecting African Capital Markets

Feb 25, 2021 | Virtual (Online)

25 February 2021 -- MFW4A and the African Securities Exchanges Association (ASEA) hosted a webinar to share progress on the African Exchanges Linkage Project to connect Africa’s leading securities exchanges and boost cross-border investment flows across Africa. This webinar built awareness of the AELP and its potential impact on the stock exchanges, their liquidity and of the investment opportunities offered.

AELP is a joint initiative of ASEA and the African Development Bank to facilitate cross-border trading across seven leading African securities exchanges that together represent more than 90% of Africa’s market capitalization and cover 14 countries and four regions.

The programme seeks to unlock Pan-African investment flows, promote innovations to support diversification for investors, and address depth and liquidity in Africa’s financial markets. The AELP Link technology platform will route orders and confirmations between stockbrokers on the participating exchanges on behalf of clients. The joint project is funded by the Korean-African Economic Cooperation (KOAFEC) Trust Fund through the African Development Bank.


AELP will improve the depth and liquidity of Africa’s capital markets and foster investment flows among the participating Exchanges by enabling cross-border securities trading using an order-routing system (AELP Link technology platform) to channel orders between Stockbrokers. The participating Exchanges are:


The AELP is a key step towards integrating Africa. It supports free movement of capital and puts into effect the ideals of Pan-African trading and investment of the Abuja Treaty (1991). It complements the strong momentum behind the African Continental Free Trade Agreement (AfCFTA) and builds on significant Pan-African trade and investment initiatives over the years towards achieving the Aspirations of the African Union’s Agenda 2063. The Exchanges are working together to build connected and resilient African capital markets, less dependent on volatile global capital flows. Improving cross-border investment will bring more opportunities for African investors and for those raising capital to reach investors across the continent.

For more details on this session’s content, the event recording is available below. The webinar presentation can also be downloaded via this link.


  • Guy Menan, Research and Knowledge Manager, MFW4A
  • Akin Adigun, CFA, Senior Capital Market Officer, African Development Bank

Welcome Remarks

  • Dr. Edoh Kossi Amenounvé, President of the African Securities Exchanges Association
  • Stefan Nalletamby, Director Financial Sector Development Department, African Development Bank

Key Note Speaker

  • H.E. Wamkele Mene, Secretary General of the African Continental Free Trade Area


  • Tom Minney, Project Manager, African Exchanges Linkage Project (AELP)
  • Willie Njoroge, African Stockbrokers and Securities Dealers Association (under formation)