Integrated West African Capital Market By 2016 Is Feasible – Ndanusa

Channels Television  
Updated March 5, 2015

capital marketThe Chairman of the Securities and Exchange Commission, Dr Suleiman Ndanusa, has said that the realisation of an integrated capital market within the West African region by 2016 is feasible.

Speaking at a meeting in Abuja, Ndanusa said that recent economic realities at the international market should be seen as an opportunity by countries in the region to boost activities in the capital market through the adoption of policies that are in the interest of the sector.

He said harmonisation of market processes and financial literacy remains key to achieving its objective of capital market integration.

Representatives of capital market institutions in the West Africa sub region gathered at a meeting to fast track the development of the market through the adoption of regional protocols.

Besides the decreasing prices of oil at the international market, security threat and differences in currencies among countries in the sub region appear to be a challenge to the attainment of the 2016 deadline.

However, many experts at the gathering highlighted great economic potential for the region through the capital market.

The Chairman of the Securities and Exchange Commission outlined some of the benefits of the creation of an integrated capital market which he said would serve as a catalyst to the growth of other sectors.

The Director-General, West African Monetary Institute, Dr Abwaku Englama, as well as the Chairman/C.E.O, Nigeria Stock Exchange, Oscar Onyema, also took turns to give their analyses of the economic potentials and how the dream would be realised in the days ahead.