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The Democratic Republic of Congo (DRC) has signed a partnership with the International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, to support the creation of the Kinshasa Stock Exchange, which would become the country’s first stock market. A stock exchange allows businesses or the government to raise money beyond traditional bank loans and development finance.
Who is supposed to list on this exchange? A stock exchange is only as interesting as the companies on it. Some African countries have struggled with limited listings and low trading activity, including Kenya, which had an 11-year initial public offering (IPO) drought on its exchange. While South Africa’s Johannesburg Stock Exchange has spent recent years battling a stream of delistings, the DRC will need enough businesses willing and able to meet the governance and reporting standards required of public companies.
Originally published by TechCabal.