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Feb 27, 2009

Africa to get new energy-focused commodities exchange later this year

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Bostwana|Africa|Bourse Africa|CoAL|Energy|Gas|Projects|Africa|Asia|India|Crude Oil|Electricity|Energy|Energy Sector|Natural Gas|Adam Gross
|Africa|CoAL|Gas|Projects|Africa|||Energy||
bostwana|africa-company|bourse-africa|coal|energy-company|gas-company|projects|africa|asia|india|crude-oil|electricity|energy|energy-sector|natural-gas|adam-gross
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A new integrated commodities spot and derivatives exchange for Africa would be launched in September, Bourse Africa head of strategy Adam Gross announced earlier this month.

Addressing delegates at the tenth Southern Africa Energy Conference, held in Sandton, he explained that the exchange would, at first, trade in the energy and other commo- dities sectors.

Gross said that the exchange planned to trade in African grades of crude oil, inter- national grades of crude oil, natural gas, electricity and coal.

Trading would, in future, diversify into other asset classes and currencies.

Bourse Africa would be based in Bostwana, and would operate on a hub-and-spoke model that would connect it with other African countries.

Gross commented that the exchange would hold many benefits for Africa where there was plenty of investment potential in the energy sector, which remained largely unrealised.

He said that the exchange would link net energy exporters and net energy importers in Africa, would give African players access to global markets and would support the development of large-scale regional projects.

Further, transparency, price discovery, forward selling and managing price risk would also benefit energy companies in Africa.

The exchange was being promoted by Financial Technologies Group, which created and operated financial markets in Africa and Asia.

The Indian firm promoted 11 exchanges across the globe, with six in India.

The JSE had also launched a new segment, the Africa Board, earlier this month, to cater for the African continent.

Edited by: Martin Zhuwakinyu
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