By Seun Ibiyemi
The Securities and Exchange Commission (SEC) of Nigeria and the Capital Markets Authority (CMA) of Rwanda have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation on capital market regulation, enforcement and supervisory activities.
The SEC disclosed the development in a statement issued in Abuja on Monday, noting that the agreement would enhance collaboration between both regulators in key areas of capital market development.
According to the commission, the MoU covers cooperation on enforcement and supervisory matters, investor education, exchange of information on regulatory and market developments, capacity building, training and technical assistance.
Speaking at the signing ceremony, Director-General of the SEC, Dr. Emomotimi Agama, stressed the importance of greater collaboration among African countries to deepen capital market integration and drive economic growth across the continent.
“We need to cooperate in Africa, invest in each other’s markets and grow our continent. In doing so, we will build collaboration and a strong interconnection among African countries.
The time has come for us to look inwards,” Agama said.
He commended Rwanda’s economic progress, particularly in finance, commerce and other critical sectors, while highlighting the strength and maturity of Nigeria’s capital market.
According to him, the partnership offers an opportunity for both countries to leverage their respective strengths in advancing Africa’s development agenda.
Agama noted that stronger collaboration between African capital markets would support market growth, improve investor protection and enhance economic opportunities for citizens.
He also underscored the role of the capital market in financing long-term development projects, stating that governments should increasingly utilise capital market instruments to fund infrastructure and other strategic investments.
“The capital market is a viable platform for raising funds for infrastructure development. We see the capital market as a solution provider for driving economic growth and development,” he said.
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On his part, Chief Executive Officer of the Capital Markets Authority of Rwanda, Mr. Romeo Ngaranbe, said Rwanda was keen to learn from Nigeria’s experience in developing a vibrant and resilient capital market.
“We are here to learn from you because you have a more advanced capital market, and we are confident that we will gain valuable lessons from your experience,” Ngaranbe said.
He expressed optimism that the partnership would deliver tangible benefits for both countries and strengthen the capacity of Rwanda’s capital market regulatory framework.
“Whatever knowledge you share with us, we will put it to good use, and we look forward to a fruitful partnership,” he added.
Stakeholders believe the agreement will promote greater cross-border cooperation, facilitate investment flows, enhance regulatory standards and support the broader objective of creating more integrated and efficient capital markets across Africa.
