African stock markets remain underutilised, even as the continent needs to raise increasing amounts of capital to fund its industrialisation, infrastructure and the expansion of its private sector. By the end of 2024, Africa had 1,141 listed companies, with a combined market capitalisation of $561 billion, representing just 0.4 per cent of global market capitalisation. At the same time, market fragmentation, low liquidity and the still limited number of listed companies pose obstacles to their development. How can African stock exchanges be turned into genuine instruments for raising capital and accelerating the continent’s economic transformation? To discuss this, we are joined by Professor Kelly MUA KINGSLEY, Chairman of the Board of Directors of African Trade & Investment Development Insurance.
