CFA Institute Report Examines Policy Solutions To Capital Formation Barriers In Africa And The Role Private Markets Could Play In This Development
(MENAFN- African Press Organization) ABIDJAN, Côte d'Ivoire, May 29, 2025/APO Group/ --
New research from CFA Institute ( ), Capital Formation in Africa: A Case for Private Markets ( ), 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 ( ), 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.
, 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.”
, 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 ( ) moderated by 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.”
Distributed by APO Group on behalf of CFA Institute.
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The CFA Institute Research and Policy Center brings together CFA Institute expertise along with a diverse, cross-disciplinary community of subject matter experts working collaboratively to address complex problems. It is informed by the perspective of practitioners and the convening power, impartiality, and credibility of CFA Institute, whose mission is to lead the investment profession globally. Visit the Research and Policy Center at .
