#secondary-markets

#secondary-markets

African entrepreneurs can build world-class businesses, but investors hesitate because they cannot see how or when they will get their money back. Initial public offerings (IPOs) remain extremely rare, and most exits take the form of trade sales often unpredictable and slow to clear. Our stock exchanges offer little comfort either with liquidity outside the largest firms still limited. Start-ups here can remain start-ups for decades with no clear path to maturity.