African Securities Market Designs

African securities markets present international investors with unique opportunities for diversification and risk return profiles consistent with emerging markets. This research examines African market structures and performance. As Africa's financial infrastructure continues to evolve the continued development of securities markets is critical in the privatization of state assets. This paper provides selective descriptions of African securities markets' regulations and procedures. The paper's objective is to provide an institutional framework for studying Africa's securities markets. The continent's trading systems represent many different trading arrangements and the rules and procedures are not standardized.