Stock market participation in Africa remains extremely low. A report published in Nigeria by Nairametrics some months ago indicated that there are about 5 (five) million accounts with the Central Securities Clearing System (CSCS) in Nigeria, of which only about 100,000 are active. This means that less than 2% of Nigerians have CSCS accounts at all, and only about 0.05% of the population is actively participating in the Nigerian stock market. Of course, the picture is similar across most African countries. While this remains the case, we have recently come across a growing number of questions from individuals seeking to understand how to get started participating in the stock market and investing in shares of quoted companies. This article is an attempt to provide a thoughtful response to such requests and, in doing so, help as many people as possible take their first steps in their wealth creation journey. What is the Stock Market? The stock market is where securities—also referred to ...
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