The Stock Exchange of Mauritius Ltd (SEM) was incorporated in Mauritius on March 30, 1989 under the Stock Exchange Act 1988, as a private limited company responsible for the operation and promotion of an efficient and regulated securities market in Mauritius. On October 6, 2008, the SEM changed its status to a public company. The SEM is a full-fledged member of the World Federation of Exchanges, an important standards setter in the Stock Exchange industry. Over the years, SEM has been at the forefront of innovation in the exchange space in Africa, emerging as a reference exchange on the African continent.