Financial Regulation in Africa An Assessment of Financial Integration Arrangements in African Emerging and Frontier Markets
In the wake of the global financial crisis, there has been a worldwide search for alternative investment opportunities, away from advanced markets. The African continent is now one of the fastest-growing economic regions in the world and represents a viable destination for foreign direct and portfolio investment. This book, which is the first comprehensive analysis of financial integration and regulation in Africa, fills a huge gap in the literature on financial regulation and would constitute an invaluable source of information to policy makers, investors, researchers and students of financial regulation from an emerging and frontier markets perspective. It considers how financial integration can facilitate African financial markets to achieve their full potential and provides a comparative study with the EU framework for financial integration and regulation. It assesses the implementation of effective and regional domestic infrastructures and how these can be adapted to suit the African context. The book also provides an assessment of government policies towards the integration of financial regulation in keeping with the regional agenda of the African Union (AU) and the African Economic Community (AEC).
’A comprehensive analysis of the spaghetti bowl of economic integration efforts of Africa over the past half century, pointing out the overlap and ineffectiveness of many of these efforts; yet, insightfully demonstrating the future need and challenges for such integration efforts, particularly in the area of financial integration and reform. Highly recommended.’ Joseph J. Norton, former Sir John Lubbock Professor of Banking Law (London), UK 'This book will be a significant addition to the emerging literature on the law of regional economic integration in Africa. It focuses on an important issue within the subject of financial regulation and is likely to be a leader on the subject for some time to come.’ Richard Frimpong Oppong, Thompson Rivers University, Canada ’...an instructive guide of what has already been achieved, but also what still needs to be done... lawyers, policy-makers, investors and bankers will all find the present text of much value in understanding and hopefully also overcoming the stumbling blocks on the way to financial integration in Africa.’ Journal of International Banking Law and Regulation