Open up capital markets, African nations advised

What you need to know:

  • In Kenya for example, Capital Markets regulators require a company listing at the securities exchange to reserve at least 25 per cent of shares to local investors, and at least Sh250 million to participate at the Nairobi Securities Exchange.
  • “I once approached a securities exchange in Africa and was told to pay $1 million to become a member yet they were only five. I suggest a zero membership fee because investors bring in skills and capital,” he added.

Capital markets in Africa have too much protection, stifling growth.

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