It is time to give Africans a stake in African growth

"African entrepreneurs can build world-class businesses, but investors hesitate because they cannot see how or when they will get their money back. Initial public offerings (IPOs) remain extremely rare, and most exits take the form of trade sales often unpredictable and slow to clear. Our stock exchanges offer little comfort either with liquidity outside the largest firms still limited. Start-ups here can remain start-ups for decades with no clear path to maturity."

"By contrast, Silicon Valley hums along because everyone knows the playbook: build fast, scale up and within five to seven years either list on an exchange or get acquired. Investors know they will not be stuck forever. That certainty, not just the capital, drives the flow of billions. If Africa wants its tech ecosystems to thrive, we need a parallel play alongside any new funds. Yes, let's mobilise sovereign wealth, pensions, banks and guarantees."

"That means fast-track growth IPO lanes on our exchanges with lighter costs and simpler disclosures. It means standardised merger templates that guarantee regulatory reviews within clear time limits. It means regulated secondary markets where early investors and employees can sell shares before an IPO. It means modernising employee stock ownership rules so talent can build wealth too. And it means creating anchor-exit facilities where big domestic players like South Africa's Public Investments Corporation or IDC commit to buy into IPOs with risk-sharing from developme"

Africa's start-up problem is an exit problem rather than a lack of capital. Entrepreneurs can build world-class businesses but investors hesitate because they cannot see how or when they will get liquidity. Initial public offerings are extremely rare and most exits are trade sales that are unpredictable and slow to clear. Stock exchanges offer little liquidity outside the largest firms. Silicon Valley benefits from a clear five-to-seven-year exit playbook that gives investors certainty. Recommended reforms include fast-track growth IPO lanes with lighter costs and simpler disclosures, standardised merger templates with fixed review timelines, regulated secondary markets, modernised employee stock ownership rules, and anchor-exit facilities.

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