Groot Systems and PineSuisse Team Up in USD $1.5 Billion Joint-Venture to Launch Africa’s Largest Stock Exchange Powered by Blockchain
SASE expects to have daily post-trade activities, estimated to be more than USD $3 trillion and the Cillar Exchange Network (Cillarex) is to enable investors and entrepreneurs exchange their daily post-trade transaction amounts from the digital currency, Cillar, to any local fiat currency of any SADC member state or any other world’s major cryptocurrencies.
New York, NY, November 20, 2019 --(PR.com)-- Groot Systems, the Namibia-based premier diversified company and PineSuisse, the New York City-based investment bank and financial services holding company are teaming up to launch Africa's largest, most modern and technological advanced stock exchange, the Southern Africa Stock Exchange (SASE) for the Southern African Development Community (SADC) area in Oshakati, Northern Namibia.
Around the world's financial markets, there are several leading stock exchange platforms, such as New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE), German Stock Exchange (DAX), Johannesburg Stock Exchange (JSE), Egyptian Exchange (EGX), Namibia Stock Exchange (NSX), and many others.
In Africa, some of the leading stock exchanges include JSE, EGX and NSX. However, these stock exchanges do not serve cross border securities exchange but only limited to companies within their territorial borders. JSE is the oldest existing and largest stock exchange in Africa, with a market cap of ZAR 14.271 billion (USD $973.93 million (2016) and a total listing of 388.
In order to make capital markets more accessible to everyone within the Southern African Development Community (SADC) area, which is Africa's largest financial marketplace and wealthiest trading bloc with the highest per capita GDP, Groot Systems and PineSuisse are setting up the Southern Africa Stock Exchange (SASE) Bourse in Oshakati, Namibia.
The purpose of SASE is to serve as the gateway to SADC, which is made up of 16 different member states in Southern Africa, with a combined population of more than 300 million, but each SADC member country has its own sovereignty local fiat currency.
SASE aims to become the primary marketplace for the raising of capital and to rechanneling cash resources into the SADC productive economic activities, thus building the economy while enhancing a creation of sustainable job opportunities and wealth sharing in Southern Africa.
Criteria for any SADC based company to list on SASE will include capital adequacy, profitability, spread of shares, years of existence and management efficiency.
For SASE to enable cross-border companies to conveniently list and trade on the SASE platform, SASE has teamed up with its sister company, Cillar Labs Inc., on an exclusive-basis, to develop "Cillar", as a digital currency, built on a blockchain, to serve as the medium of trading on SASE, thus enabling investors from all around the world to conveniently trade all types of financial securities of companies listed on SASE.
SASE expects to have daily post-trade activities, estimated to be more than USD $3 trillion and the Cillar Exchange Network (Cillarex) is to enable investors and entrepreneurs exchange their daily post-trade transaction amounts from the digital currency, Cillar, to any local fiat currency of any SADC member state or any other world's major cryptocurrencies.
“Such a platform for the trading of securities and commodities is a great need for the Southern African financial market. Even the CEO of Standard Bank Namibia recently called for such a platform, which is offering convenience, security and speed for African entrepreneurs and investors to trade financial assets,” states Simon Kapenda, CEO of Groot Systems.
PineSuisse is raising USD $1.5 billion, through the U.S. regulated capital markets, for the development and construction of the required infrastructure of offices, trading floors and powerful computer network systems to enable companies and investors trade financial assets on SASE in the safest connected environment. The Bourse is expected to be completed and ready for trading by 2022.
"Our investment focuses on life changing industries, with emphasis on improving lives and making people happy. And we are excited to team up with Groot Systems in this joint-venture, which aims to help change and improves the business environment in Africa," exclaims Tim McGraw, Vice President of Investments of PineSuisse.
In this joint venture, PineSuisse is taking a controlling 70% shareholding ownership, while Groot Systems takes 20% and reserve 10% shareholding for future strategic investors.
About Groot Systems
Based in Oshakati, Namibia, Groot Systems is a premier diversified company involved in manufacturing, trading, and investments with emphasis interests in glass, steel, food, real estate, chemicals, minerals, technology, construction, entertainment and sports, fashion, hospitality and finance.
About PineSuisse
Based in New York City, PineSuisse Inc. is an investment bank and financial services holding company offering a full spectrum of financial solutions that enable economic growth and prosperity for our clients and customers worldwide
Around the world's financial markets, there are several leading stock exchange platforms, such as New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE), German Stock Exchange (DAX), Johannesburg Stock Exchange (JSE), Egyptian Exchange (EGX), Namibia Stock Exchange (NSX), and many others.
In Africa, some of the leading stock exchanges include JSE, EGX and NSX. However, these stock exchanges do not serve cross border securities exchange but only limited to companies within their territorial borders. JSE is the oldest existing and largest stock exchange in Africa, with a market cap of ZAR 14.271 billion (USD $973.93 million (2016) and a total listing of 388.
In order to make capital markets more accessible to everyone within the Southern African Development Community (SADC) area, which is Africa's largest financial marketplace and wealthiest trading bloc with the highest per capita GDP, Groot Systems and PineSuisse are setting up the Southern Africa Stock Exchange (SASE) Bourse in Oshakati, Namibia.
The purpose of SASE is to serve as the gateway to SADC, which is made up of 16 different member states in Southern Africa, with a combined population of more than 300 million, but each SADC member country has its own sovereignty local fiat currency.
SASE aims to become the primary marketplace for the raising of capital and to rechanneling cash resources into the SADC productive economic activities, thus building the economy while enhancing a creation of sustainable job opportunities and wealth sharing in Southern Africa.
Criteria for any SADC based company to list on SASE will include capital adequacy, profitability, spread of shares, years of existence and management efficiency.
For SASE to enable cross-border companies to conveniently list and trade on the SASE platform, SASE has teamed up with its sister company, Cillar Labs Inc., on an exclusive-basis, to develop "Cillar", as a digital currency, built on a blockchain, to serve as the medium of trading on SASE, thus enabling investors from all around the world to conveniently trade all types of financial securities of companies listed on SASE.
SASE expects to have daily post-trade activities, estimated to be more than USD $3 trillion and the Cillar Exchange Network (Cillarex) is to enable investors and entrepreneurs exchange their daily post-trade transaction amounts from the digital currency, Cillar, to any local fiat currency of any SADC member state or any other world's major cryptocurrencies.
“Such a platform for the trading of securities and commodities is a great need for the Southern African financial market. Even the CEO of Standard Bank Namibia recently called for such a platform, which is offering convenience, security and speed for African entrepreneurs and investors to trade financial assets,” states Simon Kapenda, CEO of Groot Systems.
PineSuisse is raising USD $1.5 billion, through the U.S. regulated capital markets, for the development and construction of the required infrastructure of offices, trading floors and powerful computer network systems to enable companies and investors trade financial assets on SASE in the safest connected environment. The Bourse is expected to be completed and ready for trading by 2022.
"Our investment focuses on life changing industries, with emphasis on improving lives and making people happy. And we are excited to team up with Groot Systems in this joint-venture, which aims to help change and improves the business environment in Africa," exclaims Tim McGraw, Vice President of Investments of PineSuisse.
In this joint venture, PineSuisse is taking a controlling 70% shareholding ownership, while Groot Systems takes 20% and reserve 10% shareholding for future strategic investors.
About Groot Systems
Based in Oshakati, Namibia, Groot Systems is a premier diversified company involved in manufacturing, trading, and investments with emphasis interests in glass, steel, food, real estate, chemicals, minerals, technology, construction, entertainment and sports, fashion, hospitality and finance.
About PineSuisse
Based in New York City, PineSuisse Inc. is an investment bank and financial services holding company offering a full spectrum of financial solutions that enable economic growth and prosperity for our clients and customers worldwide
Contact
Groot Systems
Simon Kapenda
+264-81-250-9027
http://www.grootgroup.com
http://www.facebook.com/grootgroup
Simon Kapenda
+264-81-250-9027
http://www.grootgroup.com
http://www.facebook.com/grootgroup
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