Structured as a series of market-specific chapters, Capital Formation in Africa: A Case for Private Markets, covers 11 African economies, with contributions from local investment industry leaders
ABIDJAN, Côte d’Ivoire, May 29, 2025/APO Group/ --
New research from CFA Institute (www.CFAInstitute.org), Capital Formation in Africa: A Case for Private Markets (https://apo-opa.co/3SqtDLz), examines the case for mobilizing private capital to support the structural investment needs of sub-Saharan Africa. The research identifies and analyses existing barriers to the development of capital markets and offers a series of policy recommendations for regulators, policymakers, the investment industry, and international institutions active in the region.
Structured as a series of market-specific chapters, Capital Formation in Africa: A Case for Private Markets (https://apo-opa.co/3SqtDLz), covers 11 African economies, with contributions from local investment industry leaders in Botswana, Ethiopia, Kenya, Mauritius, Nigeria, South Africa, Uganda, West Africa (with a focus on Côte d’Ivoire and Senegal), Zambia, and Zimbabwe.
Dr. Phumzile Mlambo-Ngcuka, Former Deputy President of South Africa, writes in her foreword to the research:
“The CFA Institute research illuminates the current state of Africa’s capital markets but also serves as a call for stakeholders to engage thoughtfully with the markets evolving dynamics. It is my hope that this work will inspire policy reform and innovative solutions that navigate the complexities of capital formation with investor protection and strategic foresight. In doing so, we can shape the future of finance and drive the socioeconomic development of Africa.”
Ahmed Rashad Attout, Director of Financial Sector Development at the African Development Bank, also comments in his foreword to the research:
“At the African Development Bank, we are committed to building enduring partnerships with stakeholders who share our vision of a prosperous, inclusive, resilient, and integrated Africa. It is in that spirit that we welcome this important research from CFA Institute. The publication provides a much-needed local perspective on capital market development in Africa. Its conclusions and recommendations provide a basis for advancing the development of the investment solutions needed to build the efficient, dynamic, and integrated capital markets that Africa needs to drive its development agenda.”
The research will be launched today in Abidjan, where the African Development Bank is holding its annual meeting, during a panel discussion (https://apo-opa.co/4kEo3Bl) moderated by Olivier Fines, CFA, Head of Policy Research and Advocacy at CFA Institute. Fines adds:
“There is historically a strong correlation in various parts of the world between capital market development and socioeconomic progress. This research seeks to consider the main barriers to capital formation in sub-Sahara Africa and whether private markets, particularly private equity and private debt, can be a catalyst for stronger capital market development in the region. The authors believe private capital is particularly suited to the region’s current structural investment needs, including infrastructure and small- and medium-sized enterprise funding. The research also considers the potential for mixed finance projects and offers enduring lessons for sub-Saharan Africa based on the successes of the Asian tiger economies.”
Recommendations in the report:
For Regulators and Policymakers:
- Offer regulatory clarity and predictability through clear roadmaps and policy consultations when making significant changes to existing legislation
- Issue guidance on the regulatory treatment of private assets
- Develop strong and standardized corporate governance rules to improve corporate governance practices, the bedrock of investor confidence
For Governments:
- Consider forming public-private partnerships to stimulate the growth of financial infrastructure
- Collaborate with local firms to deliver investor education campaigns and offer grants and scholarships to students and early-career professionals pursuing accredited professional licensing qualifications
- Consider initiating projects to create endowment-like funds aimed at generating economic growth in various sectors of the economy
- Coordination between public authorizers and the private sector can make clearer the objective to integrate capital markets within the economic fabric of society
For Institutional Investors and the Investment Industry in Sub-Saharan Africa:
- Allocate resources and provide incentives for professionals to improve their skills; identify areas of skill deficits and recruit talent to address gaps
- Consider targeting small- and medium-sized enterprises in marketing campaigns that highlight the availability of funding and capital-raising options
- Develop private markets by aligning long-term and stable financing needs of SMEs and startups with private market’s long-term investment horizon
- Leverage local institutional investors (local pension funds, insurance firms, and sovereign wealth funds) as long-term anchor investors in capital markets
Distributed by APO Group on behalf of CFA Institute.
Congratulations to the people of Jubbaland federal State Of Somalia. We Puntlanders support our sisterly State.
Let us wait and see because this game is at its infancy. The government of Somalia and its people cannot accept the fiasco that is shaping up in Kismayo. Proclaiming Ahmed Madobe Islam in a hurry and at a time when 300 of the original 800 delegates boycotted the gathering will create a situation of war. If folks from Qorehei and Puntland think that they can pre-empt the efforts of the legitimate government of Somalia and create an exclusive and illegitimate administration in Lower Juba, they are totally mistaken.
Furthermore, Ahmed Madobe was a member of Al-shabaab terrorist organization and to reward such a man to impose his will on our native population in the region is not acceptable see here
Instead of being declared head of a region, Ahmed Madobe should be brought to justice for the crimes he committed as a member of a terrorist organization.
The fear is Since Shabab control 80 of Jubaland this will give Madobe an advantage over other candidates.
Alternatively anyone who apposes Madobe may fear Reprisal from Shabab.
Either way if this is accepted it further erodes the minuscule legitimacy the Road-Map-Government of Somalia-Italia had left. Considering Kenya will forever have a puppet controlling jubaland on whose ocean they seek to begin oil exploration.
You got that one right Buuxiye!
Allemagan smear your face with mud your a complete moron.
congratulations to the people of Jubbaland If ANYONE ever deserved peace its you 15 years of warlords and 5 years under al qaeda terrorists strict rules.
Jubaland hope you build on this legacy of peace to develop your region by building new infrastructure like roads, hospitals, schools, airstrips, water wells, and dams for the Jubaland river.
And Please educate the youths of Jubaland the danger of mingling with al qaeda terrorists.
VIVA to Those Somali bro/sis who choose peace of war.
Correction VIVA to Those Somali bro/sis who choose peace over war.
That is the end of your wicked agenda in Somalia. People will not allow you to claim a land that does not belong to you. I am sorry you [Somalia] are going back to the black hole once again, even though the IC are trying to help you.
Mark my words, it's not going to work. Simply the SFG in Mogadiscio would neither allow
nor accept these illegal and ill-fated moves of unilateral declaration. The SFG central high
command would have to adopt centralized regional provincial powers in the same ways
of the Somaliland institutions and constitutions. Every Somalia Regions should be governed
by a politically nominated Governor by the SFG central high command of Capital Mogadiscio.
All other episodes would be more chaotic disaster and further mayhem. Strengthening his
power the President of the SFG HSM would very much depend how he would reconcile with
the more expert powers of Somaliland and their political concept.
Cheers.
It will work for SIMPLE and CLEAR reason because people in Jubbaland want own local government and believe no one can stop them. there will be no authoritarian central government in Somalia NOW or the FUTURE in Somalia that thing is over. as i said many many times Central government will not have full authority over semi-autonomous states in Somalia including Somaliland region.
What you should do is Isaq folks like you instead of keep circling recognition stuff think about how you should govern in your region. also Somaliand region"isaq", they have to reconcile 42% residence in northern Somalia.
mo cheers
u said what jubbaland people have chosen would not work yet you said somaliland wll be recognized coz ppl want what a hypocrite
This election was over due, to those folks who use to think Jubbaland state of Somalia can not be created they were WRONG as usual. the fact is when people decided take their future in their hand no one can STOP and this one is GOOD example.
> People in Jubbaland decided to form own local authority within federal republic of somalia ( Jubbaland for fill this condition)
> Somali federal constitution says two more states can form regional authority if both agreed ( Jubbaland for fill this condition)
> All clans live in upper Jubba, middle jubba and lower jubba participted in this process OVER 500 delegation (Jubbland for fill this condition)
——————————————————————————————————————————————
Hassan Culusow he's argument is
– Still there are clan missing in this process, which it's not.
– Hassan Culusow does not believe what the Somali constitution says, him self was elected in this constitution.
– Hassan Culusow why he never look the problem in lower shabelle people been forced out from their land, the new occupiers came from Guriceel, Caliyaale, xarar dheer, Galgaduud, dhuuso mareeb, Galmudug, instead of jumping Jubbaland local issue. well, people in Jubbaland said this is our own affairs mind your business.
Puntland State of Somalia.
– Will always welcome ANY two regions in somalia wants to establish own authority within federal republic of Somalia because it's in Somali constitution. their POSITION is very clear.
This will be the making of president Hassan sheikh, he needs to demonstrate leadership here and not allow this so called jubaland to be formed even if it means resorting to use overwhelming power to get his way. He simply cannot allow an autonomous state to be formed so near to his seat of power in Mogadishu.
It's not whether he the CULUSOW allows or not that is not the CASE here. people in Jubbaland want own ADMIN and it's in the constitution as simple as that. when you talk about force. well, Jubbalanders have enough manpower to protect own territory. in fact if it's necessary they will attack and the war will not confine in southern somalia will reach faster than bullet northern somalia that is for sure.
Tani
Thanks for the infor.
Ahmed Madoobe was born in Jigjiga as I heard, not sure if it is true. Would that make him Ethiopian Somali rather than Somalian of Somalia. Anyway I believe ppl from the area have a right to setup their own admin as long as it is all inclusive. Though there has been some hastiness in the process of setting up Jubaland.
@Daljir,
Before you comment get your facts right, did you know TARZAN the thug mayor of Mogadishu he was born MUSTAXIIL ETHIOPIA??????, he came mogadishu 1970. so, tell us why he became the Mayor of Mogadishu?
Abdul&@Daljir,
TARSAN WAXUU KA YIMID CiDHIFKA KORE EE Wabiga Shabeele iyo Iimeey Galbeed, laakiin Sababta aan loo odhan xagaas ayaad ka timid " Waa Hawiye" Isaaqa Daroor ama Awaare Ka yimid Hargeisa waxuu ka ka yahay Waddani laakiin ogaden Ceel-barde ka yimid Waa laaji markuu joogo Yeed ama Xudur!
@ ALI,
kkkk, waa la'ogyahay TARZAN inuu yahay Hawiye MORYAAN. WAXAASA mahada leh in maanta soomaliya ilaa shan magaalo oo waaweyn laga dhisi doono. Mogadishu will not be the power house it use to be, i was born and grow up there.
Tankale wax baad isku qaseysaa " yeed ama xudur" waa dhul raxanweyn kkkk.
Ma'og tahay Ogaaden in uusan lahji ku aheen jubooyinka waa dad ilaahey badiyey degana.
Afmadow District
Badhaadhe District
Jamaame District
Kismaayo District
Xagar District
Bu'aale District
Are you on drugs Jamaame Bu'aale is not OG Kismayo is properly the most diverse Somali city even in Afmadow you live with the Surre Dir what is left out of those names for the OGs 2 villages lol.
Ogadeen are the majority in these area that is for sure, if they were not the majority the IC would not back them. have ever heard Majority rules, this is what is happening in jubbaland.
Let the people of Kismayo have their own government. The weak and powerless Mogadishu figment is tryin to over stretch its limited power. In fact it has no power, without the Burundi and uganda ragtag miliaitas financed by the bankcrupt west, he will be eaten up. Oluso is speaking from his feet and acting he is in charge and has a government. the Mogasihu figment will evapoarate less a year from now. Indign=enous forces who aleady in place or just beyond the horizon every where will make a move and the disrptive figment pretending to have a power in Muuqdisho will be over. the few thousand Burundi, and Uganda militias will be defeated and and their remanents will be hastily withdrawn. Western retreat and defeat is already going on in Afghanistan, happened already in Iraq. The old warlords will soon reign in Mogadishu. Uluso was part of those warlords the likes of Yalaxo, Tuuhow, Dhuxulo, Mohamed dhuure, the notorious Indacade, Qaybdiid and others. The power is already growing. Hassan Uluso will be be soon on the run, and his fake pretentious figment will fissile and disintegrate.
We welcome the new Jubaland State of Somalia. Long live Madobe who is a true Jubalander and the hero who took down al-shabab remnants from kismayo.
These OG's just don't know what kind of fire they're playing with they don't know that the Habashi/Bantu have come up with a brilliant plan to kill Somaliweyn.
They tried it the physical way to convince Somalia in doing away with Somaliweyn and failed now (even tho they're still using the physical part) they've added the mentally part where they are saying look the same people you want to free so badly are doing this to you which i've got say is working better than their physical part.
Just look at him being looked down upon by his master this people for a more than a century have known nothing more than being the Habashi/Bantus favourite house negro even in Sayyid days they were a bunch of treacherous people so no way in hell are they gonna bring Somalia down to their level.
We have already the Habashi (who by the way bullies Nairobbery) shaking inside their boots and limiting their invasions of Hawiye territories and instead concentrate more down the D&M areas which even there they are having a hard time.
Phase two will be operation make none Hawiye territories seem like its Hawiye territories to our neighbours then close the borders throwing the middle finger at the OGs then make a deal with Aids & Robbery that in order for Somalia to forget Somaliweyn they should stop their crimes against none OG members let them have their own autonomy while with the OGs they can do as they please with them.
Yes i have come to that level !
You don't know what you are talking about, none of the things you said make sense. If anyone can talk without facts then Hyenas will laugh too
kk, irir samale and wadani stop talking to yourself, have a manner. we know your one person.