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Stock Market players positive on the performance of African Exchanges   
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Players in Africa’s capital market are optimistic Africa stocks exchanges would remain an attractive investment option and destination for both local and foreign investors.

Mr Sunil Benimadhu, President of the African Securities Exchanges Association (ASEA) said this over the weekend in Accra.

“Investors are looking at African stock exchanges as very attractive market for value, an indication of the bright future that lies ahead,” Mr Benimadhu was speaking on the sideline of the 26th Executive Meeting of the ASEA.

“The general picture of the African stock markets now is one of confidence. The level of liquidity has improved and there is also the growing presence of foreign investors,” he said.

Mr Benimadhu said the international movement in asset allocation and the focus of portfolio investors on the continent should provide an added impetus for the African exchanges to seize the opportunities.

Besides, the rapid transformation of the middle class in Africa and the potential economic growth on the continent also provide a chance for a drive to push the gains forward.

There is also the need to list more companies on the bourses, adopt innovative approaches, and get governments to trade bonds while the pension funds on the continent must be encouraged to invest their resources in Africa rather than the current practice of doing so abroad.

Mr Ekow Afedzie, Deputy Managing Director of the Ghana Stock Exchange, said liquidity, good rules and economic growth would provide impetus to attract investors.

He said the alternative market for stocks would be on stream next month to open room for small companies to list.

Mr. Geoff Rothschild, Head Government and International Affairs, Johannesburg Stock Exchange said Stock exchanges have their roles cut out in each of African economies to augment governments’ efforts to grow national economies for the greater good.

Stock Exchanges he said were the channel for long-term risk capital, which is urgently needed for Africa’s businesses and infrastructure providers.

He said it was important for governments to provide the conducive environment for businesses to thrive.
Source: GNA

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