December 3, 2024 – Africa Eats (EATS) is the latest company to list on the Stock Exchange of Mauritius (SEM), along with two of our bizi: Ziweto (ZWTO) and Paniel Meat Processing (ELIT).
These three companies are the first three listings on the SEM X, a new segment on the SEM’s Official Market for high-growth, profitable companies. A segment designed to help companies with a history of growth to raise capital to fund the next stages of their expansion.
SEM X is underpinned by a new specific set of Listing Rules which capture the requirements of high-growth companies with provisions for market-making to provide liquidity of these shares to investors. Tuesday Markets is the registered market maker for EATS, ZWTO, and ELIT, and the tuesday.africa online and mobile app lets anyone buy and sell these shares.
Sunil Benimadhu, Chief Executive for SEM: “Today’s SEMX launch is a landmark step towards the strategic positioning of the SEM as an attractive multi-currency capital-raising and listing platform for local, Africa-focused and niche international products. This initiative is expected to enhance the attractiveness and raise the profile of the SEM and Mauritius as an issuance and listing platform as well as expand SEM’s reach and impact, while also adding a new asset class to its product offerings for investors like issuers, in line with SEM’s internationalisation strategy.”
Luni Libes, CEO of Africa Eats: “We have been working with the SEM over the past 14 months to help ensure this new segment serves the needs of fast-growing, profitable African SMEs and we are excited to see not just Africa Eats listed, but also two of our amazing portfolio companies as well. There is nothing like the SEMX in Africa (nor in Europe or America either) and our plan is to bring the rest of our successful bizi to the SEMX over the next few years, opening up a new channel of growth capital for these outstanding companies.”
