By Peter Egwuatu
The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with Rwanda’s Capital Markets Authority (CMA), aimed at deepening cooperation and accelerating integration of African capital markets.
Speaking at the signing ceremony in Abuja, Director-General of SEC, Dr. Emomotimi Agama, stressed the need for greater collaboration among African markets.
“We need to cooperate in Africa, invest in each other’s markets and grow our continent. In doing so, we will build collaboration so that, as Africans, we can have a common focus and build a strong interconnection. The time is now for us to look inwards,” Agama said.
He added: “We are excited about this opportunity. We need to actively collaborate to harmonise regulations, promote cross-border listings and enhance investor protection across the continent.”
According to him, “the parties recognise the importance of cooperation in fostering confidence, innovation, market development and sound practices within their respective capital markets, while also supporting regional and international engagement.”
Agama described the capital market as “the nerve centre of the economy,” saying citizens must understand how to leverage it to create wealth and improve their quality of life.
“Our relationship and integration will go a long way in building both markets and making life better for our citizens. As we forge a common front, we encourage governments to use long-term capital for long-term projects. The capital market is the solution to raising funds for long-term infrastructure development,” he said.
He further stated: “We see the capital market as a solution provider to move the economy forward. We want to make Africa better and a destination of choice. We want to jointly work with other regulators to achieve this.”
Chief Executive Officer of CMA Rwanda, Mr. Romeo Ngaranbe, welcomed the partnership, expressing confidence that closer cooperation between both regulators would support the continued development of African capital markets.
