The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have officially sealed a landmark Memorandum of Understanding (MOU) to fortify collaboration and drive financial market development and integration throughout the African continent.
This momentous partnership is set to pave the way for sustainable growth and prosperity in the region.
The recently signed MOU marks a significant milestone in the ongoing efforts to advance Africa’s capital markets, bolster market capacity, boost investor confidence, encourage peer-learning, and promote regional integration.
By combining their expertise, ASEA and ECA will work hand in hand to address several key areas of cooperation outlined in the MOU, including:
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- Conducting studies and research on financial market development and integration in Africa.
- Providing training and technical cooperation at national, sub-regional, and continental levels.
- Facilitating policy dialogues and advocating for African countries.
Mr. Thapelo Tsheole, President of ASEA and CEO of the Botswana Stock Exchange, expressed his excitement about the partnership during the signing ceremony held in Addis Ababa.
He stated, “This MOU represents a significant step forward in our collective efforts to develop robust and sustainable capital markets across Africa. Through our collaborative efforts, we aim to create an enabling environment for businesses, foster investor confidence, and contribute to the overall economic growth and prosperity of the continent.”
Mr. Robert Lisinge, Officer-in-Charge of the Private Sector Development and Finance Division at ECA, warmly welcomed the ASEA delegation and emphasized the urgency of accelerating efforts to develop domestic capital markets in African countries, especially in times of uncertainty and turbulence.
Lisinge commended ASEA’s commitment to building market connectivity in Africa and expressed high expectations for impactful projects between ECA and ASEA, aiming to facilitate the development and integration of capital markets across the continent.
Jude Chiemeka, Divisional Head of Capital Markets at the Nigerian Exchange Limited (NGX), lauded the partnership and highlighted its potential to expand the range of financial services and investment opportunities available to both local and foreign investors.
Prior to the signing ceremony, representatives from ASEA and ECA engaged in friendly exchanges on various topics related to financial market development in Africa, setting a positive tone for the collaboration.