December 9, 2008 / 1:07 PM / 12 years ago

REFILE-Financial Tech buys 60 pct stake in Bourse Africa

(Refiles to change day in first paragraph to Tuesday from Friday)

MUMBAI, Dec 9 (Reuters) - Financial Technologies India Ltd group FITE.BO has agreed to buy 60 percent stake in Botswana-based Bourse Africa Ltd, it said in a statement on Tuesday.

Bourse Africa has been licensed by the Botswana government to set-up a spot and derivative multi-asset exchange for trading in commodities, currencies, bonds and diamonds.

The balance stake in Bourse Africa will be held by other African financial institutions, banks, exchanges and other strategic investors.

The exchange will have a pan-Africa presence that will connect all the major countries in Africa, Financial Technologies said in the statement.

Reporting by Aniruddha Basu; Editing by Rosemary Arackaparambil

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