Groot Systems
Partnership  |  Press  |  Careers  |  Contact
  Home  |  Company  |  Products  |  Services  |  Solutions  |  Markets  |  Investors  |  Citizenship  |  Culture
  Information
    In the News
    Press Room   »
    Events
    Contact Us
Press Room

Groot Systems and PineSuisse Team Up in USD $1.5 Billion Joint-Venture to Launch Africa’s Largest Stock Exchange Powered by Blockchain

FOR IMMEDIATE RELEASE -- WINDHOEK, Namibia, November 20, 2019 (Groot Systems) --

Groot Systems, the Namibia-based premier diversified company and Pine Suisse, 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.

Pine Suisse 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 Pine Suisse.

In this joint venture, Pine Suisse is taking a controlling 70% shareholding ownership, while Groot Systems is taking 20% and reserve 10% shareholding for future strategic investors.

About Groot Systems

Based in Oshakati, Namibia, Groot Management Systems (Pty) Ltd 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 in Namibia and beyond.

Africa's largest shopping market, the Southern African Development Community (SADC), with a combined population of more than 300 million and the highest per capita GDP in Africa, with Namibia via Namport in Walvisbay as its main entrance, is ripe and offering abundant opportunities for the manufacturing and production of the much needed world's quality products which currently are primarily imported from elsewhere.

Groot Systems' approach is to meet the needs and demands for the SADC market through its innovative solutions, which are offering high return on investment (ROI), creating sustainable employment opportunities and helping to boost macroeconomic growth throughout the community.

About Pine Suisse

Based in New York City, Pine Suisse 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 Info:
Public Relations
Groot Systems (Pty) Ltd
Oshakati, Namibia

Phone: +264-81-250-9027
Email: pr@grootgroup.com
Web: grootgroup.com
Facebook: grootgroup

Safe Harbor Act

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

###

« back


Groot Groot Suisse develops advanced industrial ecosystems to improve communities.
(Co.Reg.No.: 2010/0669) (VAT Reg.: #5303 362-015)
Made of Namibia  ©: 2019 Groot Suisse Ltd. All Rights Reserved.   Legal & Privacy Facebook   Twitter   LinkedIn   Instagram   YouTube