The Nigerian Stock Exchange (NSE) first Vice President Aigboje Aig-Imoukhuede, predicted that the continent will lead global economic growth in the coming years as Africa has recorded an average growth rate of 5 percent over the past 10 years.
“By reconsidering our current priorities and building on our knowledge base of models and practices that enable us leapfrog from our current third world realities to higher levels of development, we can change the Africa Rising narrative and make it; Africa has arrived,”Aig-Imoukhuede told Building African Financial Markets Capacity Building Seminar (BAFM) in Johannesburg on Thursday.
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BAFM was being organized by the Johannesburg Stock Exchange (JSE) and African Securities Exchange Association (ASEA), with the support of the World Bank Group.
Aig-Imoukhuede also highlighted the importance of maintaining consistent policy regimes based on just and equitable principles that will generate and preserve issuer and investor confidence in African capital markets.
The NSE boss acknowledged that “though African securities exchanges are contending with challenges such as trading limited to a handful of stocks and generally low liquidity, he is of the belief that African exchanges must lead the ‘march for change’, by influencing their governments to implement enabling policies that will encourage the flow of capital and investment to the continent”.
Aig-Imoukhuede who is also the chairman of Wapic Insurance Group and Director of Africa Finance Corporation added that In conclusion, Aig-Imoukhuede added that “While we can talk regulation, market structure, post-trade services and other technical talk, it is important for African exchanges to look beyond the ‘bits and bytes’ of the exchange business, and consider the nuances of our respective environments. (VENTURES AFRICA)
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