ASEA, ECA sign MoU to strengthen Africa’s financial market

THE African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have announced the signing of a landmark memorandum of understanding (MoU) which aims at fostering closer collaboration and driving financial market development and integration on the African continent for sustainable development.

The MoU marks a significant milestone in the efforts to develop Africa’s capital markets, build market capacity, enhance investor confidence, facilitates peer-learning and promote regional integration.

By leveraging their respective expertise, ASEA and ECA will jointly work on several key areas of cooperation as outlined by the MOU. These include: studies and research on financial market development and integration in Africa; training and technical cooperation at national, sub-regional and continental levels and policy dialogues and advocacy for African countries.

Mr Thapelo Tsheole, President of ASEA and CEO of Botswana Stock Exchange, at the signing ceremony in Addis Ababa, Ethiopia, hailed the partnership between ASEA and ECA.

“This MoU represents a significant step forward in our collective efforts to develop robust and sustainable capital markets across Africa. By working together, we will create an enabling environment for businesses, foster investor confidence and contribute to the overall economic growth and prosperity of the continent,” Mr Tsheole said.

Mr Robert Lisinge, Officer-in-Charge, Private Sector Development and Finance Division, ECA welcomed the ASEA delegation and noted that at the time of uncertainty and turbulence, “it’s critical for development partners to speed up their efforts in helping African countries develop their domestic capital markets, to not only mobilise resources and attract investments but also build resilience with market depth.”