The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called for stronger collaboration among African capital markets to deepen regional integration, promote innovation, and drive sustainable economic growth across the continent.
Agama made the call on Monday in Abuja during the signing of a Memorandum of Understanding (MoU) between the Securities and Exchange Commission of Nigeria and the Capital Markets Authority (CMA) of Rwanda.
The agreement establishes a framework for cooperation between both regulators in key areas including investor education, market development, regulatory information sharing, capacity building, technical assistance, and joint supervisory enforcement.
According to both institutions, the partnership reflects a shared commitment to strengthening confidence in African capital markets while supporting broader regional and international engagement.
Speaking at the ceremony, Agama said African countries must work more closely to harness the potential of their capital markets as engines of economic transformation.
“We are excited about this opportunity to help develop your capital market. We need to cooperate in Africa, invest in each other’s markets, and grow our continent,” he said.
He stressed that deeper interconnection among African economies would strengthen financial systems and expand opportunities for citizens across the continent.
Agama also praised Rwanda’s economic progress, describing it as an example of strong governance and financial sector development, while noting that Nigeria’s capital market remains one of the most structured in Africa.
He said both countries stand to benefit from knowledge sharing and regulatory cooperation aimed at improving market efficiency and attracting investment.
“The capital market is an enabler of economic growth, and we believe there is much that can be shared to help strengthen emerging markets across the continent,” he said.
He further urged African governments to rely more on long-term capital markets for financing infrastructure projects, rather than depending solely on short-term funding sources.
According to him, stronger capital market integration would not only enhance investment flows but also improve living standards across participating economies.
Chief Executive Officer of the Capital Markets Authority of Rwanda, Romeo Ngarambe, welcomed the partnership, describing it as a major step toward strengthening Rwanda’s capital market framework.
He said Rwanda looks forward to learning from Nigeria’s more developed capital market system and applying the knowledge to deepen its own financial sector.
The MoU is expected to enhance regulatory coordination, promote cross-border knowledge exchange, and support the development of more resilient and interconnected capital markets across Africa.
