VOA标准英语2011--Africa’s Growing Number of Stock Exchanges Face Challenges

Africa’s Growing Number of Stock Exchanges Face Challenges

Even as African economies post strong growth figures, outpacing most developed nations, the continent's stock exchanges face many challenges, from national politics to weak currencies.

A protest in South Africa targeted the Johannesburg Stock Exchange.

Youth leader Julius Malema wants more key industries nationalized. And he wants government and business to create jobs. More than 50 percent of South African youth between 18 and 25 are jobless - as in most of Africa.

When he has made such demands before, stock prices here have dropped.

Noah Greenhill, the exchange’s head of marketing¹, says such political debate doesn't make markets unsound.

“The United States have people saying stuff that is vehemently² against what the president of the party of the day says and nobody goes, 'Well, we cannot invest in America because so and so is vehemently opposed to what is being said by the ruling party and our president'.” Greenhill said.

African exchanges do struggle because of weak currencies and slow foreign investment in a tough world economic climate.

There are other problems: some economists³ say there may be too many exchanges in sub-Saharan Africa, with more than 20, and many have limited hours.

Still, Greenhill says it is a mistake to ignore Africa, with its growing middle class and rich resources.

“It is the land of opportunity. Look at the telecommunication⁴ companies. Look at the banking⁵ services, retail⁶, those kinds of businesses with these huge opportunities. Make no mistake, there are risks, but there are risks in doing business in Greece, in Portugal, in Italy, in Ireland, in Spain,” Greenhill said.

The world's fastest growing economy this year is Ghana - topping 13 percent. Growth like that, Greenhill and other market experts say, can outweigh⁷ the problems Africa's stock markets face.

1 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

2 vehemently   

adv. 热烈地

参考例句：

• He argued with his wife so vehemently that he talked himself hoarse. 他和妻子争论得很激烈，以致讲话的声音都嘶哑了。
• Both women vehemently deny the charges against them. 两名妇女都激烈地否认了对她们的指控。

3 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

4 telecommunication   

n.电信，远距离通信

参考例句：

• Telecommunication is an industry of service.电信业是一个服务型的行业。
• I only care about the telecommunication quality and the charge.我只关心通信质量和资费两个方面。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

7 outweigh   

vt.比...更重，...更重要

参考例句：

• The merits of your plan outweigh the defects.你制定的计划其优点胜过缺点。
• One's merits outweigh one's short-comings.功大于过。