By Abiodun Folarin
WorldStage– The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for stronger collaboration among African capital markets to enhance regional integration, promote cross-border investments, and drive economic growth across the continent.
Agama made the call in Abuja on Monday during the signing of a Memorandum of Understanding (MoU) between Nigeria’s Securities and Exchange Commission and the Capital Markets Authority (CMA) of Rwanda.
The agreement is aimed at strengthening cooperation between the two regulatory bodies in areas including investor education, capital market development, information exchange on regulatory and market developments, capacity building, technical assistance, and cooperation on enforcement and supervisory matters.
According to the MoU, both parties recognize the importance of collaboration in fostering confidence, innovation, market development, and sound practices within their respective capital markets, while also supporting regional and international engagement.
Speaking at the signing ceremony, Agama emphasized the need for African countries to deepen cooperation and invest in one another’s markets to build a more interconnected and prosperous continent.
“We are excited about this opportunity to help develop your capital market. We need to cooperate in Africa, invest in each other’s markets and grow our continent. In so doing, we will build collaboration so that, as Africans, we can have a common focus and create a strong interconnection. The time is now for us to look inwards,” he said.
The SEC Director-General commended Rwanda’s economic progress and acknowledged the country’s achievements in attracting investment and promoting commerce.
“We appreciate the strength of the Rwandan economy and the efforts made to rekindle the real value of the African race. On our part, we have a very strong capital market structure and we want to see what role the capital market can play in advancing Africa’s development agenda,” Agama stated.
He described the capital market as the nerve centre of the economy, stressing the need for citizens to understand and utilize it as a tool for wealth creation and improved living standards.
“The capital market is an enabler of economic development, and we believe there is much Rwanda can learn from Nigeria’s experience to strengthen its market. We are willing to contribute to the success of other nations because our relationship and integration will help build both markets and improve the lives of our citizens,” he said.
Agama further urged African governments to leverage long-term capital from the market to finance infrastructure projects, describing the capital market as a critical solution for mobilizing sustainable development financing.
“We see the capital market as a solution provider for moving economies forward. We want to make Africa better and a destination of choice for investors. We are committed to working jointly with other regulators to achieve this objective,” he added.
In his remarks, Chief Executive Officer of the Capital Markets Authority of Rwanda, Mr. Romeo Ngarambe, welcomed the partnership and expressed confidence that the collaboration would support the growth of Rwanda’s capital market.
“We are here to learn from Nigeria, which has a more advanced capital market. We are confident that the lessons and experiences shared will contribute significantly to the development of our market. Whatever knowledge you provide, we will make good use of it, and we look forward to a fruitful partnership,” Ngarambe said.
The MoU is expected to strengthen regulatory cooperation between both countries and support broader efforts toward the integration and development of African capital markets.
