By Oluwakemi Kindness
Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for deeper integration of African capital markets, urging countries across the continent to strengthen collaboration, drive cross-border investments, and unlock Africa’s economic potential through a unified financial ecosystem.
He made the call came as SEC Nigeria and Rwanda’s Capital Market Authority (CMA) signed a Memorandum of Understanding (MoU) in Abuja on Monday, marking a significant step toward enhanced cooperation between both regulators.
Under the agreement, the two institutions will collaborate on investor education, capital market development, information sharing on regulatory and market developments, capacity building, technical assistance, and enforcement matters of mutual interest.
Speaking during the signing ceremony, Agama emphasized that Africa must begin to look inward and leverage its collective strengths to accelerate growth and development.
“We need to cooperate in Africa, invest in each other’s markets, and grow our continent together. By strengthening collaboration, we can build a robust interconnected market that serves the interests of Africans. The time has come for us to look inward,” he said.
Agama reaffirmed the Commission’s readiness to work closely with African counterparts to harmonize regulations, encourage cross-border listings, and strengthen investor protection across the continent.
He commended Rwanda’s economic progress and described the partnership as a strategic opportunity to deepen financial cooperation between both nations.
“We recognize the remarkable transformation of the Rwandan economy and the efforts that have enhanced commerce, investment, and financial inclusion. Nigeria has built a strong capital market structure, and we are eager to explore how our markets can work together to create greater value for our people,” he stated.
Highlighting the importance of the capital market in national development, Agama described it as the backbone of economic growth and a critical tool for wealth creation.
“The capital market is the nerve centre of the economy. It empowers citizens to create wealth, supports businesses, and provides governments with access to long-term funding for infrastructure and development projects,” he said.
According to him, stronger integration among African capital markets will not only boost investment flows but also improve the quality of life for citizens across the continent.
“Our relationship and integration will strengthen both markets and create opportunities for sustainable growth. Governments must increasingly rely on long-term capital to finance long-term infrastructure projects. The capital market remains one of the most effective solutions for achieving this,” Agama added.
He stressed that African regulators must work collectively to position the continent as a preferred global investment destination.
“We see the capital market as a powerful solution provider for economic advancement. Our goal is to make Africa a destination of choice for investors, and we are committed to working with other regulators to achieve that vision,” he said.
In his remarks, Chief Executive Officer of the Capital Market Authority of Rwanda, Romeo Ngaranbe, welcomed the partnership and described Nigeria’s capital market as a valuable model for emerging markets across Africa.
“We are here to learn from Nigeria’s experience as one of Africa’s more advanced capital markets. We believe this partnership will provide valuable lessons that will support the continued development of our market,” he said.
Ngaranbe expressed confidence that the agreement would open a new chapter of cooperation between both institutions and deliver lasting benefits for investors and market participants in both countries.
