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Subrat SaurabhAuthor of Kuch Woh PalSamuel Onyuma has been a faculty member and served as Chair of Department of Economics and Business Studies at Egerton University before joining Laikipia University, where he currently lectures and conducts research in the vast area of finance and financial markets. His interest is in analysing securities market efficiency, microstructure, governance and regulatory issues and studying policy and development for the securities markets. Dr. Onyuma has spoken at conferences on securities markets integration, regulation, microstructure and corporate governance issues. He has published academic booRead More...
Samuel Onyuma has been a faculty member and served as Chair of Department of Economics and Business Studies at Egerton University before joining Laikipia University, where he currently lectures and conducts research in the vast area of finance and financial markets. His interest is in analysing securities market efficiency, microstructure, governance and regulatory issues and studying policy and development for the securities markets. Dr. Onyuma has spoken at conferences on securities markets integration, regulation, microstructure and corporate governance issues. He has published academic books and several articles on African securities markets in peer-reviewed journals.
Read Less...Achievements
Demutualization is the transformation of a securities exchange governance structure from a mutual association of stockbrokers operating as not-for profit entity into a for-profit company accountable to its shareholders. It has become a widespread phenomenon – one with increasing appeal in developed markets. It challenges the traditional approach to regulation of securities exchanges and raises issues regarding their role in capital markets regulation. In spi
Demutualization is the transformation of a securities exchange governance structure from a mutual association of stockbrokers operating as not-for profit entity into a for-profit company accountable to its shareholders. It has become a widespread phenomenon – one with increasing appeal in developed markets. It challenges the traditional approach to regulation of securities exchanges and raises issues regarding their role in capital markets regulation. In spite of its popularity as a strategy for catalysing securities exchange development in emerging economies, its pace in Africa has been excruciatingly very slow. African securities exchanges therefore remain underdeveloped compared to their peers in other emerging markets. So, how can African securities exchanges facing the challenge of integration and better technical and institutional development address the problem of underdevelopment through demutualization? This book explains how demutualization can enable greater and swifter securities market development in Africa; the role government regulators should play in demutualization of exchanges in African countries; the right self-regulatory model applicable to African exchanges; effective management of conflicts of interest and other barriers to separation of ownership from management and trading rights; types of investments needed to enhance the effectiveness of African’s capital market; and how securities exchange demutualization can facilitate African countries destiny to become leading capital markets globally.
Despite the many institutional reforms undertaken to foster financial development, securities markets in Africa remain underdeveloped – shallow in listing and liquidity, with high price volatility. The reforms have not catapult the development of these markets to global standards. Although Africa receives a sizable portion of the total recorded Diaspora remittances to developing economies, remittances have now surpassed the volume of development aid, for
Despite the many institutional reforms undertaken to foster financial development, securities markets in Africa remain underdeveloped – shallow in listing and liquidity, with high price volatility. The reforms have not catapult the development of these markets to global standards. Although Africa receives a sizable portion of the total recorded Diaspora remittances to developing economies, remittances have now surpassed the volume of development aid, foreign direct investments and portfolio investment in Africa. How can African securities exchanges facing the challenge of integration and better technical and institutional development address the problem of low liquidity? Efficiently mobilized Diaspora remittance flows can contribute to more investments in these markets. This book examines the strategic policy options for the development of securities markets in Africa through efficient remittance flow from Africans in the Diaspora, harnessing the mobile financial services and designing Diaspora investment securities. Finance scholars interested in understanding the crucial link between migration, remittances and securities markets development will find the book as a useful learning and research reference material. Securities markets managers and regulators interested in developing their markets will also find the book important in designing institutional reforms targeted at promoting Diaspora remittances flows and fostering market development.
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