The Securities and Exchange Commission (SEC) has urged collaboration amongst African financial markets with the aim of fostering greater interconnectedness across the continent and promoting the creation of innovative products.
During his visit to the Autorité Marocaine du Marché des Capitaux (AMMC), also known as the Moroccan Capital Market Authority in Rabat on Monday, Dr. Emomotimi Agama, the Director-General of the Commission, issued this appeal when meeting with the Board of the SEC.
We must work together in Africa, investing in one another’s markets and fostering growth within our continent. Our aim should be to create collaborations that allow us as Africans to concentrate efforts and establish robust interconnectedness. Now is the moment for us to shift our gaze inward.
We recognize your expertise in Collective Investment Schemes, and we believe there is much we can learn from you. Given Nigeria’s large population, it is crucial for individuals to grasp the significant advantages offered by CIS and discover ways to participate.
“We value the robustness of Morocco’s economic framework and its structural integrity, and we are interested in understanding the contribution of the capital markets to these achievements,” he remarked.
Agama stated that the capital market serves as the core of the economy, emphasizing that citizens should learn how to utilize it for wealth creation to enhance their standard of living.
As he stated, “The capital market plays a crucial role in fostering economic growth, and we feel there is considerable knowledge to be gained from Morocco that could assist in bolstering our own market. We are enthusiastic about the prospects ahead and the potential for collaborating to create a unified approach.”
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