[ad_1]
The Director Basic of the Securities and Change Fee (SEC), Mr Lamido Yuguda mentioned the goal of the West African Capital Markets Integration Programme is to create an enabling setting for cross-border securities transactions and the combination of all capital markets jurisdictions within the ECOWAS area.
The SEC DG said this throughout a gathering with the director-general of SEC Ghana in Accra.
He mentioned that given the big potential of cross-border listings, capital markets within the area are anticipated to develop a software of cooperation that permits them to successfully police their respective markets and make sure that the requirements of regulation set out by IOSCO are sustained and improved upon when crucial.
What the SEC DG is saying
Yuguda emphasised that it might take cooperation from all of the events concerned to carry the mission to fruition. He mentioned:
- “With out the readiness of all involved, the lofty goals of this system could as effectively regularly stay a dream. It goes to say, unequivocally, that this objective can solely be achieved seamlessly when all member states of ECOWAS come on board and actively decide to attaining the noble targets of the improved collaborative construction that the character of those agreements allow.
- “On this notice, the SEC Ghana and SEC Nigeria, desirous of attaining these beliefs, have taken the lead by instance and by driving this mission within the sub-region whereas hopefully aiming to sometime broaden its protection past the sub-regional frontiers onto different components of the continent of Africa.”
Talking additional, Yuguda mentioned that the enduring relationship between the 2 jurisdictions is amplified by the truth that Ghana and Nigeria have the biggest markets within the West African sub-region. He added that it might be good for each international locations to grab the benefit of dimension and peculiarities and discover viable areas of cooperation.
They need to additionally proceed to work with different stakeholders to combine the completely different markets and supply better alternatives for the financial prosperity of the 2 international locations.
- “We have to come nearer and take deliberate steps to realize bilateral cooperation. We’re very eager on this relationship. There’s a sturdy relationship between us so we have to proceed to nurture and develop it and create establishments that may assist our individuals have higher dwelling requirements. I hope we are able to obtain quite a bit by bringing our capital markets collectively. We have to make our establishments stronger in addition to our financial actions.
- “We require this collaboration in a bid to make the method of accessing our markets as seamless as attainable, straightforward for individuals to switch property, make investments and believe that the investments are protected in Ghana as they’re in Nigeria and vice versa,” Yuguda said.
What Ghana SEC is saying
In his remarks, the DG of SEC Ghana, Rev Daniel OgbarmeyTetteh recommended the Nigerian SEC DG. He said that Ghana and Nigeria can push ahead in methods that may carry in regards to the mutual advantages of leveraging the capital market, including that the area must have their markets open to one another in order that they’ll obtain extra after which attain one massive capital market.
Tetteh additionally expressed delight on the collaboration and pledged the dedication of SEC Ghana to the initiative.
“Each Securities Commissions are able to work collectively and develop the potential of the capital market by inspecting points and exploring methods to resolve them to make the capital markets work higher. If you wish to go far, it’s higher to associate with others and that’s the reason we at all times have discussions on cooperation within the capital market,” he mentioned.
Associated
[ad_2]
Source link