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BSE hosts AMEDA meeting

BSE hosts AMEDA meeting
February 05
09:43 2018

BUSINESS REPORTER

Botswana will host the 27th meeting of the Africa Middle East Depositories Association (AMEDA) on the 11th-12th April at the Cresta Mowana Safari Lodge in Kasane, courtesy of the Botswana Stock Exchange (BSE).

“Hosting this meeting is a huge achievement for the BSE and Botswana as a whole as it will be the first time that the AMEDA meeting is held in Botswana. This therefore demonstrates our prowess and our commitment to building a world class securities exchange as about 28 full members and eight affiliate members of AMEDA from about 32 countries around the world will descend on the tourist town of Kasane for the meeting,” says a statement from the BSE.

The AMEDA meetings are said to be dedicated towards the review of the association’s financial performance, as well as conducting workshops on the relevant topics that impact the operations of the Central Securities Depositories in the AMEDA region. AMEDA is a non-profit organization comprised of Central Securities Depositories and Clearing Houses in Africa & the Middle East and was formed for the benefit of its member community, as an elective, inter-professional and regional facility geared towards fostering the spirit of cooperation, reciprocity and harmony among members.

According to the BSE, its main purpose is to provide a forum for the exchange of information and experiences among its members in a spirit of mutual cooperation. The CSDB, a 100% owned subsidiary of the BSE was established in 2002, and joined AMEDA in November 2012. The CSDB maintains the Central Securities Depository System, an electronic security register maintained in its capacity as a transfer secretary to all listed companies.

The CSDB system has nine participants; four brokers, three custodian banks and three Market Makers. The system records holdings in the clients’ accounts for the following financial instruments; equities/shares, bonds and Exchange Traded Funds (ETFs). The CSDB has achieved 100% dematerialization, which is the conversion of physical records of investments into electronic records. The number of accounts opened by investors (excluding joint accounts and multiple registrations) as at 31 December, 2017 stood at 80,641.

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