Turnover in the secondary bond market increased from an already high average quarterly value of R2.2 trillion in 1999 to an all-time high of R2.8 trillion in the first quarter of 2000. In April 2000 the value of transactions on the Bond Exchange amounted to R0.8 billion. The uncertainties in the foreign exchange market were also reflected in developments on the Johannesburg Stock Exchange.
I would like to begin by welcoming everyone to this conference on the economics of mobile money and to welcome especially all those who have made the effort to come here from abroad to share with us your experience and expertise.