Stock market participation in Africa remains extremely low. A report published in Nigeria by Nairametrics some months ago indicated that there were about 5 (five) million Central Securities Clearing Systems (CSCS) accounts, of which only about 100,000 were active. That means that less than 2% of Nigerians have CSCS accounts at all, and only 0.05% of the population were active on the Nigerian Stock market. Of course the picture is similar across most African countries. The Stock market is where securities or stocks of Publicly listed Companies are traded every working day. In Nigeria, to participate in trading such stocks, the company has to be publicly listed on the Stock exchange and compliant with applicable regulations, participants have to register with a Stockbroker who will help them open CSCS accounts and assign a Clearing House Number (CHN) to them to have access to the Stock exchange trading floor . These days the registration process is very easy and could be done within 48 h...
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