The unity of Africa in all the different areas of nation building has been identified as the best possible solution for Africa to be able to walk tall among other developed continents and compete fairly and effectively in all areas which matter in development.
One such area which Africa has plans to unify its efforts is in their stock exchanges and while this is seen like all other areas of proposed unification, Mr. Neil Harvey, deputy CEO of Renaissance Capital believes that what African countries more look forward to building stronger regional stock exchanges first before looking in that direction.
In an interview with the dailyEXPRESS after the 11th African Stock Exchanges Association Conference, Mr. Harvey noted that though the creation of an African Stock Market was necessary and was bound to happen in the future ?probably the building of regional markets looks more likely to happen sooner.?
He added that already the eastern African market (Uganda, Kenya, Rwanda and Tanzania) is starting to come together, which is a good sign of trading between countries, and will lead to the strengthening of the market in the future.
In addition Mr. Harvey mentioned trading between the stock exchanges of Ghana, Nigeria and the Ivory Coast as a step forward in strengthening regional trade, which is important than moving in an African wide campaign.
The Chairman of the Ghana Stock Exchange Council and MD of Cal Bank, Frank Adu also indicated to the dailyEXPRESS that once the Trust Bank Gambia is listed on the Ghana Stock Exchange and Ecobank Transnational Incorporated is also listed on the Ivorian, Ghanaian and Nigerian stock exchanges, it sets a good benchmark because all the stock exchanges have to work together and synchronize rules and regulations.
Mr. Adu disagreed with suggestions that focusing on building an African Stock Exchange will lead to the forsaking and improvement of individual countries stock exchange. He however noted that Africa must go and realize the full hub because in creating a bigger market it will definitely strengthen the various individual stock exchanges.
