In an effort to attract more investors, West Africa’s small stock markets are looking to join forces in the West African Capital Markets Integration project to create the second-largest exchange in Africa after the Johannesburg Stock Exchange (JSE) in as soon as five years.
Stock exchanges for Nigeria, Ghana, Sierra Leone and Cape Verde will be joining with the Bourse Régionale des Valeurs Mobilières (BRVM), which is a regional market itself for eight francophone countries: Benin, Burkina Faso, Guinea Bissau, Mali, Niger, Senegal, Togo and the largest, the Ivory Coast or Cote d’Ivoire. The BRVM has 39 listed companies coming largely from the telecommunications and banking sectors with 30 listings based in the exchange’s home country of Cote d’Ivoire.
BRVM’s CEO, Edoh Kossi Amenounve, told Yahoo! Finance:
“Africa is changing in terms of political risk. We are going to democracy. Our population is very informed on what is going on in our countries. So I think that the political risk is perceived as very low… If you come to Africa to invest, you have to have a long-term vision of Africa. That is very key because Africa is growing … You don’t come to Africa to invest for two years or three years. You have to invest for a long time.”
To read the whole article, To attract investors, Africa’s smaller stock markets are planning to join forces, go to the website of Yahoo! Finance. Investors should also check out our Africa ETF lists, Frontier Market ETF lists and Africa ADR lists.
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