Tuesday 5th November 2024 – The Lusaka Securities Exchange Plc (LuSE) and Financial Sector Deepening Africa (FSD Africa) have formalized their collaboration through the signing of a Memorandum of Understanding (MoU) aimed at the comprehensive revision of the LuSE Rules. This initiative is part of the second phase of the Africa Regulatory Support Programme, managed by FSD Africa.
The MoU was signed on 5th November 2024 during the FSD Africa Sustainable Capital Markets Conference in Nairobi, Kenya, in a ceremony attended by Mr. Mark Napier, CEO of FSD Africa, and Mr. Nicholas Kabaso, CEO of LuSE.
Under the terms of the agreement, FSD Africa will provide both funding and technical assistance to support a complete review of the LuSE Trading Rules, CSD Rules, Listings Rules, and the Rules of the Exchange. This partnership seeks to streamline LuSE operations, increase market participation, and align the Exchange’s regulatory framework with emerging trends in sustainable finance, particularly in the issuance of green and sustainable financial instruments. Additionally, the partnership will involve capacity-building initiatives, including regional regulator roundtables and specialized training sessions, aimed at enhancing the regulatory environment of the Exchange.
Mr. Kabaso expressed his appreciation for the partnership, stating, “Collaborating with FSD Africa at this crucial time allows us to further strengthen Zambia’s capital markets. This initiative will help accelerate listings, enhance trading, and foster wealth creation for investors.”
He added, “This partnership offers LuSE the opportunity to draw from the valuable experience of other exchanges that have participated in this program. We are excited about refining our rules to boost market participation and meet the evolving needs of the market.”
The MoU represents a significant milestone in LuSE’s ongoing efforts to mobilize sustainable finance and improve the regulatory framework governing the Exchange.
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About FSD Africa:
Financial Sector Deepening Africa (FSD Africa) is a financial sector development program funded by UK Aid from the UK government. Its mission is to enhance prosperity, create jobs, and reduce poverty by transforming financial markets in subSaharan Africa and the economies they serve.
About LuSE:
Founded in 1993, the Lusaka Securities Exchange (LuSE) is dedicated to fostering capital formation, raising capital, and providing an efficient, regulated platform for transparent and equitable trading of listed securities. LuSE plays a key role in wealth development, financial services, and investment opportunities for both local and foreign investors, while offering companies a platform to raise long-term capital.
