Africa’s bond markets need gov’t support: experts

Ten years after African Development Bank (AfDB) launched an initiative to develop the financial markets sector on the continent, stakeholders have called for stronger political will in the pursuit of development financing.

Reviewing the progress of the African Financial Markets Initiative (AFMI), at an event in Zambia last week, the director of financial sector development at AfDB, Stefan Nalletamby said the initiative could have been ‘more effective’.

‘‘I would have liked to have already seen several domestic bond markets much more developed and relevant to the local economies, but one has to be content with what one can achieve over a ten year period,’‘ said Nalletamby.

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