The Stock Exchange of Mauritius (SEM) has come a long way from its humble beginnings in 1989 and is today positioned as one of the leading exchanges in Africa.
SEM started its operations on 5th July 1989, as a domestic equity-centric Exchange with five listings and a market capitalisation of Rs 1.1 billion. It has since witnessed a significant overhaul of its operational and regulatory framework to become one of the leading Exchanges in Africa and emerge as a multi-asset class international Exchange. The SEM operates a multi-currency capital raising, listing and trading platform in four international currencies, namely USD, Euro, GBP and ZAR. It is today well-positioned as an attractive capital raising and listing platform for Africa-focused products and niche international products. The SEM currently lists 200 securities, cutting across multiple asset-classes, and has a market capitalisation of Rs 400 billion.
During the last 30 years, SEM listed companies have raised Rs 245 billion to fund their expansion and restructure their capital, contributing to socio-economic development through enhanced investments and job-creation. SEM's platform has during this period contributed to the democratisation of the economy by allowing 100,000 Mauritians own a stake in its listed securities. The last thirty years have also witnessed noticeable improvements in corporate reporting and governance standards of listed companies.
SEM has recently launched an Africa Board which currently hosts 25 securities. The Exchange's objective is to double the Africa Board's listings to 50 by 2023. SEM's objective by 2025 is to have a market capitalisation to GDP ratio of 150%, increase the number of listings to at least 300 securities and become home to at least 150,000 retail investors.