By Abubakar Yunusa, Abuja
In a bid to foster collaboration and enhance the understanding of the opportunities and challenges associated with the integration of capital markets in the West African region, the West African Monetary Institute is set to host a Capacity Building/Sensitization Program on West African Capital Markets Integration (WACMI) Phase II Project.
The event is scheduled to hold from July 11 – 12, 2023 at the Federal Palace Hotel Lagos, Nigeria.
According to the Director General WAMI, Dr. Olorunsola E. Olowofeso, “Integrated capital market will foster cross border investment, stimulate and deepen the regional financial markets through series of activities aimed at harmonizing capital market operational rules, providing aggregated financial markets information, providing common market infrastructure, enhance liquidity, promote efficient allocation of capital, increase investment opportunities, reduce costs for market participants, and foster economic growth and stability.
“The project emphasizes knowledge transfer and capacity building through workshops and technical training sessions to build the capacity of market operators, regulators, asset managers, financial infrastructure providers and other capital market participants on a range of financial market issues including regulations, supervision, innovative financing, cross-border investments and settlements”.
The project is funded by the African Development Bank (AfDB) and implemented by the West African Monetary Institute (WAMI) while Lead anchors are the West African Capital Markets Integration Council (WACMIC), a platform for Chief Executive Officers of the Securities Exchanges and Central Securities Depositories in West Africa, and the West African Securities Regulators Association (WASRA), comprised of Directors General of the Securities & Exchange Commissions in the region.
The programme is expected to sensitize relevant stakeholders on efforts at enhancing cross-border investments across the region through the establishment of a common and integrated platform for the listing, trading, and settlement of securities transactions within West Africa.
The key objectives of the program include: Enhancing awareness of the WACMI Phase II Project and its significance for the region’s capital market ecosystem: Facilitating knowledge exchange on regulatory frameworks, market structures, and operational aspects to support integration efforts and Discussing challenges and identifying solutions to strengthen cross-border investment and trading activities.
Other objectives are Identifying opportunities for collaboration and fostering partnerships among market participants and stakeholders and Showcasing success stories and case studies from other integrated capital markets across the globe.
The program is designed to bring together experts, professionals, regulators, policymakers, and stakeholders from across the West African region to engage in fruitful discussions, share best practices, and explore innovative strategies for the successful implementation of the WACMI Phase II Project.
Speakers at the event include :Director General WAMI Dr. Olorunsola E. Olowofeso, Director General Securities and Exchange Commission (SEC)Mr. Lamido Yuguda, CEO Nigerian Exchange (NGX) Mr. Temi Popoola , Deputy Governor Economic Policy Directorate Central Bank of Nigeria Dr. Kingsley I. Obiora and Dr. Abdulrasheed Zubair the Project Manager, WACMI Phase II Project.
