Stakeholders Address Low Capital Market Penetration in Africa

During the 3rd Prof. Uch Uwalek Puu Biennial Colloquium on capital markets held at the Yar'Adua Centre in Abuja, stakeholders discussed the persistent low penetration of Africa’s capital markets. Prof. Uch Uwalek, Nigeria's first Professor of Capital Markets, emphasized that future-proofing Africa's economic integration requires acknowledging rapid global changes in technology and economics.

He identified three pillars essential for this integration: infrastructure, innovation, and capital market development. Uwalek noted that without significant reforms, Africa's capital markets would remain underdeveloped, contributing only 2.6% to global listings.

Feder Shamseldeen Ogunjimi lamented the continent's limited market depth, with total market capitalization across African exchanges estimated at $561 billion. Osita Izunaso, Chairman of the Senate Committee on Capital Market, stressed the importance of sound legislation and regulatory oversight to build resilient capital markets capable of supporting cross-border investments and mobilizing long-term financing.