…Agama pushes for stronger African Capital Market Integration
The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has called for deeper collaboration among African capital markets to strengthen regional integration, promote cross-border investments, and drive the development of innovative financial products across the continent.
Agama made the call on Monday in Abuja during the signing of a Memorandum of Understanding (MoU) between SEC Nigeria and the Capital Market Authority (CMA) of Rwanda.
Under the agreement, both regulators will cooperate within their respective mandates and legal frameworks in areas including investor education, capital market development, exchange of regulatory and market information, capacity building, technical assistance, and collaboration on enforcement and supervisory matters of mutual interest.
The MoU also underscores the importance of cooperation in fostering investor confidence, innovation, sound market practices, and stronger regional and international engagement.
Speaking at the event, Agama emphasised the need for African countries to work together to unlock the continent’s economic potential.
“We are excited about this opportunity to support the development of your capital market. Africa must cooperate, invest in one another’s markets, and grow together. By strengthening collaboration, we can build a more interconnected continent and create a unified focus for economic growth. The time has come for Africa to look inward,” he said.
He commended Rwanda’s economic progress and acknowledged the strides made by its leadership in enhancing commerce, finance, and economic development across the country.
“We recognise the strength of the Rwandan economy and the remarkable progress that has been made. Nigeria has developed a strong capital market framework, and we are eager to explore how our markets can work together to support broader economic growth across Africa,” Agama added.
The SEC Director-General described the capital market as a critical driver of economic development and wealth creation, stressing the need for citizens to understand and leverage investment opportunities available through the market.
“The capital market is an enabler of economic growth. We believe there is much that Rwanda can learn from Nigeria’s experience, just as we can learn from one another. We are committed to sharing knowledge and supporting the growth of capital markets across the continent,” he said.
According to him, stronger market integration will not only boost economic development but also improve the quality of life for citizens across Africa.
“As we build a common front, governments should increasingly leverage long-term capital to finance long-term projects. The capital market remains one of the most effective avenues for mobilising funds for infrastructure development and sustainable economic growth,” Agama stated.
He added that capital markets must continue to serve as solution providers for economic transformation and reiterated Nigeria’s commitment to working closely with fellow African regulators to position the continent as a preferred investment destination.
In his remarks, the Chief Executive Officer of CMA Rwanda, Mr Romeo Ngaranbe, welcomed the partnership and expressed optimism about the benefits it would bring to Rwanda’s capital market.
“We are here to learn from Nigeria’s experience as a more advanced capital market. We believe there are valuable lessons that have contributed to your success, and we are eager to apply those insights in Rwanda. We look forward to a productive and mutually beneficial partnership,” Ngaranbe said.
He noted that capital markets have evolved significantly and are increasingly becoming the preferred investment destination for individuals and institutions seeking sustainable wealth creation opportunities.
