The West Africa Securities Regulators Association (WASRA) in collaboration with the Security and Exchange Commission of Ghana (SEC) and the Security and Exchange Commission of Nigeria has held a second West Africa Capital Market Conference in Accra.
The conference was held on the theme, “Deepening and Strengthening the Capital Markets Across West Africa Through Effective Regulation.”
The primary goal of WASTRA was to promote the integration of capital markets in the West Africa sub region by instituting an avenue of technical cooperation of relevant programmes and projects in the capital market value chain towards a common purpose by member countries.
The two day event sought to created a platform for member countries to discuss and deliberate on the capital market integration in West Africa and the measures and strategies to put in place to achieve its integrity, fairness, transparency, efficiency, cooperation and the success of the capital in the sub – region.
Speaking at the conference, the Vice President of Ghana, Alhaji Dr. Mahamadu Bawumia said, the program well help strengthening and deepen the capital market in the sub – region, stressing that “it can be done and must be done”.
He however urged member countries to embark on a to bust digital drive as part of the effort to enhance capital market to effectively roll out initiatives such as IPOs, bonds and the likes to raise the needed funds to support economic infrastructures for socio – economic growth and development, and explained that, the move calls for players in the capital market space to build and develop a blue print by member countries.
According to him, the gesture will bring to bear best practices and compete also with global market trends and overcome challenges associated with risks, pointing out that Africa is endowed with rich human and natural resources thus a smart reforms in the capital market space will step up member countries in the sub – region to build synergies and network among each other than to rely on foreign counter parts.
In a speech read on his behalf by Deputy Minister of Finance, Dr. John Kumah, the Minister of Finance, Mr. Ken Ofori Atta said, the capital market in the sub – region must be well harmonized among member countries to support the integration agenda.
He said, the integration will lead to investor confidence as well as protect and build the financial capacities of industry players through sharing of information and strategies to build a robust market for a sustainable growth and development.
For his part, the Director General of SEC Ghana, Rev. Daniel Ogbarmey Tetteh urged member countries to pull resources together to help build to robust capital markets across the West Africa sub – region, adding that member countries must put in place mechanisms, and network to scale up the mobilization of long-term capital financing for economic growth and development.
Source: Ben LARYEA