Somalia Stock Exchange
The Somali Stock Exchange (SSE), also known as the Somalia Stock Exchange, is the national bourse of Somalia founded by SEF.
Type | Stock exchange |
---|---|
Location | Mogadishu, Somalia |
Founded | 2011 |
Owner | Federal Government of Somalia |
Currency | Somali shilling & USD |
No. of listings | 2 (initial) |
Website | somalistockexchange.so |
Overview
The Somalia Stock Exchange was founded in 2011. It was established to attract investment from both Somali-owned firms and global companies in order to accelerate the ongoing post-conflict reconstruction process in Somalia.[1]
In August 2011, the SSE signed a Memorandum of Understanding with the Nairobi Securities Exchange (NSE) to assist it in technical development. The agreement includes identifying appropriate expertise and support.[1][2] Sharia compliant sukuk bonds and halal equities are also envisioned as part of the deal as Somalia's nascent stock market develops.[1]
As of November 2014, the Somalia Stock Exchange has established administrative offices in Mogadishu, Hargeisa, Garoowe,[3] Kismayo, and other urban centers in Somalia. It also maintains a bureau abroad in Nairobi, where qualified Somali stockbrokers and staff are being trained.[4]
According to the SSE management, the bourse is slated to officially open in 2015. Initially, seven Somali-owned firms from the financial services, telecommunications and transportation sectors are expected to list their shares therein for prospective global investment.[4]
See also
References
- "Diplomat to start Somalia's first stock market". Reuters. 8 August 2012. Retrieved 5 December 2013.
- Minney, Tom (14 May 2014). "Nairobi Securities Exchange plans to offer 38% of shares in June IPO". AfricanCapitalMarketsNews.com. Retrieved 19 May 2014.
- "Somali-Mogadishu Exchange Market". NewsGhana.com.gh. 23 November 2015. Retrieved 23 November 2015.
- "Somalia's new bourse sees seven firms listing on opening in 2015". Reuters. 26 November 2014. Retrieved 26 November 2014.