African Stock Markets and Economic Development: ASIC Launches an Innovation Challenge
The African Stock Investment Competition and the Global Innovation Game team up to search for the best innovation for improving how African stock markets catalyze economic growth on the continent.
The African Stock Investment Competition (ASIC) announces the launch of an innovation challenge to answer the question, “What stock market innovations can be developed to help build African economies?” ASIC has teamed up with the Global Innovation Game to run the challenge through May 15, 2011.
Stock markets contribute to national economies by helping to increase investment rates and foreign direct investment. “These benefits, and others, are not lost on Africa in which over 20 of the 54 countries have stock exchanges,” says Lauri Elliott, Director of Afribiz Media. “For us, catalyzing economic development in Africa is not just a business opportunity, but a core component of our mission. We look at all angles to do so, and the development of capital markets is an excellent mechanism when the markets are dominated by value investors.”
With the African Stock Markets Innovation Challenge, ASIC wants to get the best input for new innovations to accelerate the growth of the capital markets in Africa. “Instead of limiting input for innovations to a few, we thought opening the discussion to everyone would give us diverse ideas and input,” says Elliott. With this input, ASIC will be able to further discussions, projects, and initiatives.
It so happens that the Global Innovation Game (GiG) simulates the concept of stock markets, but for the idea market. This is a natural fit for ASIC.
This article was originally posted on Sustainable Development Africa Platform
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