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The African Securities Exchanges Association (ASEA) was incorporated in 1993 in the Republic of Kenya. ASEA's aim is to provide a formal framework for the mutual co-operation of stock exchanges in the African region. Its functions include the exchange of information and assistance in the development of member exchanges.
There are 29 exchanges in Africa, representing 38 nations' capital markets. 21 of the 29 stock exchanges are members of ASEA.
Africa is prosperous in opportunities and potential. 70% of its population is under 35 and its middle classes are over 300 million. The International Monetary Fund (IMF) predicts that no continent will grow more strongly over the next few years. Governments throughout Africa are working to improve the business conditions. 7 of the 10 fastest growing economies are in Africa and they have the fastest growing mobile phone market with more than 735 million subscribers.
A lowered mortality rate has caused a shift for African economies. Households are supporting one less child, allowing them to invest 25% more into the health and education of their children. With the birth rates in Africa declining, there is a lower number of dependents per family, which leads to increased investment in human and physical capital, increased health and wealth and a further drop in birth rates. With fewer dependents, households have the option to save and invest. The African people are opening bank accounts, starting businesses and even buying stocks. Creating an increased demand for goods and services. Households with less children tend to spend more, stimulating GDP growth and creating jobs.