Financing [Secondary Markets] in Africa

This is part of a huge project which started with the completion of Bruce Hearn's PhD at King's College London in 2008 and finished in 2024. It involved extensive travel to, visiting, interviews with senior directors and personnel at almost all national securities exchanges across Africa. The full details are as follows below:

African Secondary Financial Markets 09/2005 – 08/2013
Role: Principal Investigator (PI)
Status: Completed
Funding: £45,000-£50,000 from ESRC, internal university sources and approximately £30,000 from industrial sources (private consultancy work at HSBC and Credit Agricole Investment Bank)

Data collection: Extensive travel for interviews with national stock exchanges of
Ghana: GSE, Ghana stock exchange, Osu, Accra 7/2013
Ghana: GSE, Ghana stock exchange, Osu, Accra 3/2011
Mali (Sahara): Societe de Gestion Intermediere, Bamako 12/2008
Ghana: GSE, Ghana stock exchange, Osu, Accra 12/2008
Cote d’Ivoire: Bourse Regionale des Valuers Mobilieres 12/2008
Mozambique: BVM, Bolsa de Valores de Maputo, Maputo 7/2008
Zambia: LuSE, Lusaka stock exchange, Lusaka 7/2008
South Africa: Cape Town financial district 7/2008
Ghana: GSE, Ghana stock exchange, Osu, Accra 12/2007
Cote d’Ivoire: Bourse Regionale des Valuers Mobilieres 2/2007
Mozambique: BVM, Bolsa de Valores de Maputo, Maputo 7/2007
Botswana: BSE, Botswana stock exchange, Gabarone 7/2007
Kenya: NSE, Nairobi stock exchange, Nairobi 7/2007
Uganda: USE Uganda Securities Exchange, Kampala 6/2007
Ghana: GSE, Ghana stock exchange, Osu, Accra 7/2006
Nigeria: Nigerian stock exchange, Lagos 7/2006
Namibia: NSX, Namibian stock exchange, Windhoek 7/2001
South Africa: Cape Town financial district 7/2001
Algeria: Bourse d’Alger, Algiers city 8/2017
Morocco: Bourse de Casablanca, Casablanca 3/2008
Egypt: EGX Egyptian exchange Cairo floor, Cairo 2/2008
Egypt: EGX Egyptian exchange Alexandria floor, Alexandria 2/2008
Tunisia: Bourse de Tunis, Tunis 1/2008

Data collection: Led construction of database comprising daily financial trading data for every listed firm in every stock exchange across Africa. This included the following:
- Extensive collaboration and negotiations with Namibian stock exchange 5/2009
- Negotiation and working with Botswana stock exchange 5/2012
- Extensive negotiation with Lusaka stock exchange (Zambia) 5/2012
- Extensive data collection over a year on Khartoum exchange, Sudan 2007

Data: Led construction of new national databases for secondary trading and financial data for:
- Every listed firm in Namibia, Botswana, Sudan, Zambia, Mozambique, eSwatini
- First time in world such national databases had been constructed.
- First time national stock exchange database built in Sudan (Khartoum)
- Unique data then combined with data from Bloomberg and Datastream to form a pan-African secondary market financial database
Duration: Data collection took 7 years from 2005 to 2012

Teams: Assembled and led collaborative teams of world-renowned professors including:
Professor/Dean Igor Filatotchev (Kings College London, UK),
Professor Jenifer Piesse (Kings College London, UK),
Professor Lars Oxelheim (Lund, University, Sweden),
Professor Trond Randoy (Copenhagen Business School, Denmark),
Professor Roger Strange (University of Sussex, UK)
Professor Venancio Tauringana (University of Southampton, UK)
Professor Collins Ntim (University of Southampton, UK)