Confidence Building in Sub-Saharan Stock Markets

Stuart R. Cohn wrote "...In most sub-Saharan countries there is so little history of successful investing in domestic enterprises, of capital raising through public offerings, and of stock market activity, that the mere inauguration of stock exchanges and the listing of former parastatals is far from sufficient to assure an active and growing stock market. Steps must be taken outside of the normal course of market development, beyond merely adding to the list of securities by new privatisations or the floating of government bonds. What is required is a change in how the government views the stock exchange as well as a commitment to capital growth..."