https://techcrunch.com/2022/09/21/ghanaian-fintech-secondstax-allows-investors-to-access-capital-markets-outside-their-countries-raises-1-6m/

African capital markets exist in silos, as various exchanges within the continent are often inaccessible to investors outside their home countries. For instance, a South African investor who wants to diversify their portfolio outside the Johannesburg Stock Exchange may find investing in the Nigerian Stock Exchange difficult.

Not only does this limit investors’ access to high-growth securities, but it also limits access to capital that has grown in leaps and bounds over the past couple of years. Per reports, major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets.