South African asset manager Cloud Atlas Investing has launched a pan-African exchange-traded fund (ETF) on the Johannesburg Stock Exchange.
The Big50 Ex-SA ETF will invest in 50 companies listed on 15 stock exchanges across Africa, excluding South Africa.
“It is important to us that we try to facilitate ways in which Africans can participate in Africa’s growth,” said Maurice Madiba, founder and chief executive of Cloud Atlas Investing.
The launch increases the number of ETFs listed on the Johannesburg exchange to 53, with a total market capitalisation of nearly 73 billion rand ($5.4 billion).
“The Johannesburg Stock Exchange is committed to playing a role in the expansion and deepening of Africa’s investment opportunities,” said Donna Nemer, director of capital markets at the exchange.
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