HomeNewsDeeper bond market, commodity exchange close

Deeper bond market, commodity exchange close

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SEC says it is sweating to facilitate the establishment of exchange markets for commodities and bonds to deepen capital markets for companies looking for funds.
“All countries that that have developed have developed through bond markets,” Bonyogwe said. “Right now a lot of countries are mulling issuing a bond, but we don’t have a developed bond market. It’s one of the glaring things in our market.”
“We are also talking with the relevant authorities to establish a commodity exchange. For a country which is agro-based we really need a market which gives farmers fair prices.” The organisation also wants to see a financial services institute being set up as soon as possible.
However, a local capital market watcher yesterday said it would be wise to fast-track the establishment of a bond market when the money market – a short-term market – is still hamstrung by poor liquidity.
“We need to be liquid first and have a bond market later,” the market watcher said. Bonyongwe said government would embark on road shows to Shanghai and South Africa to attract capital into the bond markets, boosting liquidity through foreign participation.

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