ECOWAS un­der­scores ben­e­fit of re­gional cap­i­tal mar­ket

Daily Trust - - AFRICA - By Romoke W. Ah­mad

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.

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