June 19, 2023
The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have recently entered into a Memorandum of Understanding (MoU) to foster closer collaboration and drive financial market development and integration on the African continent.
In a joint statement issued on Wednesday, the two organizations emphasized that the MoU represents a significant milestone in the efforts to develop Africa’s capital markets. Their shared objectives include building market capacity, enhancing investor confidence, facilitating peer learning, and promoting regional integration.
Under the terms of the MoU, ASEA and ECA will collaborate on various key areas of cooperation. This includes conducting studies and research on financial market development and integration in Africa, providing training and technical assistance at national, sub-regional, and continental levels, as well as engaging in policy dialogues and advocacy for African countries.
During the signing ceremony in Addis Ababa, Ethiopia, Thapelo Tsheole, President of ASEA and Chief Executive Officer of Botswana Stock Exchange, expressed his appreciation for the partnership between ASEA and ECA. He highlighted that the collaboration signifies a substantial stride towards developing robust and sustainable capital markets across Africa. The collective effort aims to create an enabling environment for businesses, bolster investor confidence, and contribute to the overall economic growth and prosperity of the continent.
Robert Lisinge, Officer-in-Charge of the Private Sector Development and Finance Division at ECA, welcomed the ASEA delegation and emphasized the importance of accelerating efforts to help African countries develop their domestic capital markets, particularly in times of uncertainty and turbulence. This development is crucial not only to mobilize resources and attract investments but also to build market resilience and depth.
Jude Chiemeka, the Divisional Head of Capital Markets at Nigerian Exchange Limited, expressed appreciation for the partnership and highlighted its potential to expand the range of financial services and investment opportunities available to both local and foreign investors.
Overall, the MoU between ASEA and ECA represents a significant step forward in strengthening financial markets in Africa and promoting sustainable economic development on the continent. By combining their expertise and resources, the two organizations aim to create a more resilient and attractive investment landscape for businesses and investors alike.
photo source: google
Delino Gayweh
Serrari Financial Analyst
