SEC Pushes for Deeper African Capital Market Integration Through Strategic Cooperation
During a recent official visit to Morocco, the Director General of Nigeria’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, made a strong case for increased collaboration among African capital markets. Addressing the board of the Moroccan Capital Market Authority (AMMC) in Rabat, Agama emphasized the need for African nations to invest in each other’s financial systems as a way to boost regional economic development. He urged regulators and stakeholders to foster meaningful partnerships that would strengthen cross-border integration and help Africa chart a more unified financial future.
Agama highlighted Morocco’s expertise in Collective Investment Schemes (CIS) as an example Nigeria could learn from, especially considering its large population and potential for financial inclusion. He believes scaling up CIS in Nigeria could provide more citizens with access to safe, regulated investment platforms, improving financial literacy and economic participation. His message was clear: a more robust CIS structure could be key to unlocking wealth creation opportunities for everyday Nigerians.
Beyond financial product development, the SEC boss reiterated the broader role of capital markets as engines of national economic growth. He called on African governments to embrace long-term capital as a solution for funding infrastructure and other development projects. Agama expressed optimism about the growing relationship between Nigeria and Morocco, saying it can serve as a blueprint for broader African financial cooperation. The ultimate goal, he said, is to make life better for Africans by strengthening the continent’s market ecosystem.
Moroccan AMMC Chairperson Ms. Nezha Hayat echoed Agama’s sentiments, stressing that mutual funds and CIS are central to Morocco’s financial inclusion strategy. She revealed ongoing plans to promote dual listings and allow Moroccan funds to invest in foreign currencies—initiatives in which Nigeria is a key partner. Her remarks reaffirmed a shared commitment between both nations to drive deeper capital market integration and make Africa a more attractive destination for long-term investment.
Source: The Nation