Securities Markets Development in Africa : Mobile Financial Services Efficient Remittance Flows & Diaspora Investment Securities

Despite the many institutional reforms undertaken to foster financial development securities markets in Africa remain underdeveloped – shallow in listing and liquidity with high price volatility. The reforms have not catapult the development of these markets to global standards. Although Africa receives a sizable portion of the total recorded Diaspora remittances to developing economies remittances have now surpassed the volume of development aid foreign direct investments and portfolio investment in Africa. How can African securities exchanges facing the challenge of integration and better technical and institutional development address the problem of low liquidity? Efficiently mobilized Diaspora remittance flows can contribute to more investments in these markets. This book examines the strategic policy options for the development of securities markets in Africa through efficient remittance flow from Africans in the Diaspora harnessing the mobile financial services and designing Diaspora investment securities. Finance scholars interested in understanding the crucial link between migration remittances and securities markets development will find the book as a useful learning and research reference material. Securities markets managers and regulators interested in developing their markets will also find the book important in designing institutional reforms targeted at promoting Diaspora remittances flows and fostering market development.