This of course helps to raise visibility, and provides access to a larger pool of investors, while also setting a benchmark for local corporates. As financial innovation and deepening evolves on the continent, it is imperative that the regulation of the financial system keeps pace with these developments.
Here the emphasis should fall on appropriate regulation – that is, striking the right balance between guiding financial markets and protecting financial systems (some of which may still be at a nascent stage) on the one side, while not stifling innovation and progress on the other.. Too much regulation would entail increased costs which could hinder further development of the financial sector.