ASEA President: ‘Hopeful Africa’ Awaits ‘Development Uprising’ Within 10 Years
During opening the ASEA’s 16 Annual Conference, Sunil Benimadhu -President of the ASEA and Chief Executive of the Stock Exchange of Mauritius (SEM), has asserted the African markets have witnessed a series of major economic changes during the last five years leading them to enjoy promising position among other continents’ markets.
“Africa is no longer the ‘Hopeless Continent’ as the Economist had described in 2000, From 2011-2012, Africa has become the ‘Hopeful Continent’ as we are going through tremendous transformation.” Sunil added
On the main theme of the ASEA 16th Annual Conference, Sunil added that this year event aims to open up the methods for unifying among Africa’s stock exchanges and to make the best use of the infrastructure of which most the continent market enjoys. He said the conference also targets conveying a message to the continent’s biggest firms in order to getting listed in the African stock exchanges.
Moreover, Sunil said during the period between 2001-2012, a number of African markets mainly Angola, Nigeria and Rowanda have witnessed a series of substantial developments. Accordingly, those countries have managed to be included in the biggest economies among other stock markets.
Sunil also pointed out that the annual growth rates of continent markets range between 5:6%. He expected that the African markets will witness a substaintial change and a ‘development Uprising’ within the coming 10 years.
