MBABANE - Southern African capital markets are set to enter a new phase of regional integration following the establishment of the SADC Capital Markets Association (SACMA).
This is a continental platform aimed at strengthening cooperation, innovation and long-term investment mobilisation across the region.
The decision was taken last week in Gaborone by the Committee of SADC Stock Exchanges (CoSSE), which represents 14 registered stock exchanges operating in 13 member States of the Southern African Development Community (SADC).
The new association will bring together securities exchanges, capital market intermediaries, service providers and strategic stakeholders under a single regional platform. CoSSE will serve as the executive arm of SACMA, ensuring continuity, coordination and effective implementation of the association’s mandate.
According to CoSSE, SACMA has been established to promote regional capital market integration, product and market innovation, technical cooperation and capacity building, while supporting practical market-development initiatives aligned with SADC’s economic and financial sector priorities.
Importantly, SACMA will operate in support of national regulators and existing regional frameworks and will not exercise regulatory authority. Instead, it is expected to serve as a coordination and engagement platform to deepen collaboration across markets that remain largely fragmented and uneven in terms of size, liquidity and product offerings.
Chairman of CoSSE, Collen Tapfumaneyi, said the launch of SACMA marked a major milestone in the evolution of capital markets in Southern Africa.
“The establishment of SACMA marks an important milestone in the evolution of SADC’s capital markets. By bringing together exchanges and the broader capital-market ecosystem under a single, coordinated platform, we are creating a practical mechanism to support regional integration, innovation and the mobilisation of long-term capital for development,” he said.
Tapfumaneyi added that SACMA was designed to complement existing national and regional structures while providing a strong and unified voice for SADC capital markets in regional and global policy discussions.
Beyond integration, SACMA is expected to play a strategic role in mobilising long-term capital for priority regional programmes, particularly in infrastructure development, industrialisation, energy transition and climate-resilient investments.
The association will provide a structured interface for engagement with development finance institutions (DFIs), international partners and strategic investors.
Through coordinated regional engagement, SACMA aims to unlock larger pools of patient capital for projects that individual markets may struggle to finance on their own.
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SACMA has been established to promote regional capital market integration, product and market innovation, technical cooperation and capacity building, while supporting practical market-development initiatives aligned with SADC’s economic and financial sector priorities. (Courtesy pic)