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:: Bankers for listing of government units (11/12/14)

By Caroline Kandiero - The Daily Times

The Bankers Association of Malawi (BAM) has urged the government to list all its financial instruments on the Malawi Stock Exchange (MSE) to create a yield curve for long term investments.

BAM president Misheck Esau said this during a presentation he made on the sidelines of the launch of the Investment Handbook last week.

Esau noted that the Malawi capital market and stock exchange is under-developed with limited financial and short term instruments resulting in low savings and narrow resource base for long term projects.

"To address the issues, BAM offered a number of short and medium term solutions to the challenges. The short term solutions include government to list all its financial instruments on the MSE to create a yield curve for long term investments. The government should list more companies or offload more stock on the MSE and it should let the private sector own the MSE," he said.

According to Esau, the medium term solution Would be to delink capital market regulation from the RBM.‘

“Currently, capital market development is overshadowed by banking regulation and
supervision,“ said Esau.

On access to finance by SMEs, Esau said issues of collateral, lack of business
capacity by SMEs, the Credit Reference Bureau (CRB) and slow justice system are some of the key challenges that need to be addressed with immediate effect.

“The government should fast-track the implementation of the Personal Property and Security Act, strengthen entrepreneur training.

Implementation of the national identification system should also be finalised," he said.

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