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VII. A. Automation: PROMOTING STOCK MARKET DEVELOPMENT IN AFRICA
The results from the previous sections show that African stock markets are small, illiquid, with infrastructural bottlenecks and weak regulatory institutions. Despite these problems, stock markets in Africa have helped in the financing of the growth of large corporations but there is little evidence of broader economic benefits. How do you make the stock market more beneficial to African countries?
6.3 Financial sector links between investment and diversification: Economic Report on Africa 2007
With regard to financial sector policies, the starting point is the clear link between investment and diversification. The contribution of private investment to desirable diversification outcomes cannot be gainsaid.

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2.2 Formalizing Informal Methods of Financial Intermediation: Microfinance in Africa - Experience and Lessons from Selected African Countries
Traditional informal systems for the collection of savings and for lending have provided substantial insight for the operations of licensed MFIs in African countries.
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