WASHINGTON — Capital markets have multiple ways to influence how financial systems can direct more funding to development: raising capital around certain issues, creating listing requirements, and using their voice to raise issues, which is often underrecognized, said Nicky Newton-King, the CEO at the Johannesburg Stock Exchange.
“In exchange, for instance, we run the capital markets, but the voice that we have in doing that is much more powerful than actually the size of the exchange,” she told Devex.
“Putting some responsibility on leadership of the various different types of institutions beyond just their economic contribution … is something that I think people don't really spend enough time concentrating on. If they use their voice and understanding and muscle in their industry in a particular way, that could make a difference.”