ECOWAS underscores benefit of regional capital market
The ECOWAS Commission has called on member countries to step up citizenship awareness on the roles of capital markets in wealth creation and management and overall economic development to maximize the benefits of the upcoming integrated regional capital markets.
ECOWAS Commissioner for Industry and Investment Promotion, Mr. Kaliou Troaore made the remark in Abidjan, Cote d’Ivoire, at a sensitization workshop for captains of securities and exchange commissions, stock exchanges and other stakeholders in the sub-region.
He said: “The need has never been more rife than on this occasion of our drive for an interlocked regional market, for you to seize the opportunity of access to markets across borders, to horn your product development strategies and improve product quality, packaging, innovation and completion in ways that will make the markets more attractive to the uninitiated, especially the unsophisticated investors.”
According to a statement from the Commission in Abuja, the workshop was preparatory to the commencement of the implementation of the three-phased West African Capital Markets integration roadmap this month within the framework of the ECOWAS-led regional market integration process.
In the address read on his behalf by Mr. Peter Oluonye, the Commissioner noted that accessing the integrated regional capital market would enable operators “unlock the idle resources that could be directed to the market to catalyze inclusion and economic development.”
He stressed that professional ethics and corporate governance must also guide operators initiatives and operations in the new market arrangement so as to galvanize regional trust and confidence and ensure sustainability of benefits that would accrue from integration.