By ebosele@hotmail.com –
The Director-General, Securities and Exchange Commission (SEC), Nigeria, Dr. Emomotimi Agama, has called for stronger collaboration among African capital markets to foster deeper interconnection, accelerate market development, and create new investment opportunities across the continent.
Agama made the call in Abuja on Monday during the signing of a Memorandum of Understanding (MoU) between SEC Nigeria and the Capital Markets Authority (CMA) of Rwanda, aimed at strengthening cooperation between the two regulatory institutions.
The agreement provides a framework for collaboration in key areas including investor education, capital market development, exchange of information on regulatory and market developments, capacity building, technical assistance, and cooperation on enforcement and supervisory matters of mutual interest.
According to the MoU, both parties recognise the importance of cooperation in promoting investor confidence, innovation, market development, sound regulatory practices, and enhanced regional and international engagement.
Speaking at the event, Agama stressed the need for African countries to work together in building stronger and more integrated capital markets capable of driving economic growth and attracting investment.
“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 focus and build a strong interconnection. The time is now for us to look inwards,” he said.
The SEC Director-General commended Rwanda’s economic progress and reforms, noting that stronger partnerships among African regulators would unlock greater opportunities for investment and economic development.
“We appreciate the strength of the Rwandan economy and the remarkable strides made in finance, commerce and governance. On our part, Nigeria has a very strong capital market structure and we want to see what role the capital market can play in advancing our shared development goals,” Agama stated.
He described the capital market as the nerve centre of the economy and a critical tool for wealth creation, emphasizing the need for citizens to better understand how to leverage investment opportunities to improve their quality of life.
“The capital market is an enabler of economic development and we believe there is so much for Rwanda to learn from Nigeria’s experience in strengthening market institutions and broadening investor participation,” he said.
Agama further highlighted the role of capital markets in financing long-term infrastructure projects, urging African governments to increasingly utilise long-term capital to fund sustainable development initiatives.
“Our relationship and integration will go a long way in building both markets and improving the lives of our citizens. The capital market remains the solution for raising funds for long-term infrastructure development and moving our economies forward,” he added.
The SEC boss reaffirmed Nigeria’s commitment to working closely with regulators across the continent to harmonise regulations, encourage cross-border listings, strengthen investor protection, and position Africa as a preferred investment destination.
In his remarks, the Chief Executive Officer of CMA Rwanda, Mr. Romeo Ngaranbe, expressed appreciation for the partnership, describing Nigeria’s capital market as one of the most advanced in Africa.
“We are here to learn from you because you have a more advanced capital market, and we are confident that we will gain valuable lessons that have contributed to your success. Whatever knowledge and experience you share with us, we will put to good use,” Ngaranbe said.
He expressed optimism that the partnership would enhance Rwanda’s capital market development efforts and create opportunities for greater cooperation between both countries.
The MoU is expected to strengthen regulatory collaboration, facilitate knowledge sharing, and support the development of more resilient and integrated capital markets across Africa.
