UK AID TO STRENGTHEN AFRICAN CAPITAL MARKETS REGULATION.

UK Aid funded non profit company, FSD Africa, is to collaborate with regulators of capital markets in some African countries to enhance their capacity to monitor and regulate the markets.

The countries are Ghana, Kenya, Mozambique, Nigeria, Rwanda, Tanzania , Uganda, Zambia and Zimbabwe.

Under the 3 year programme, FSD Africa will provide funds to build the capacity of capital market regulators across the African continent;  provide world class technical assistance for them and encourage closer collaboration amongst the regulators.

According to the Securities and Exchange Commission of Nigeria, it became the first tragetted regulator to sign on to the collaboration on September 28, this year.

The agreement was signed in Lagos by the Acting Director General of SECNigeria, Mary Uduk and FSD Africa's Mark Naplier with the Deputy High Commissioner to Nigeria, Laure Beaufils present.

According to Naplier "....strengthening regulatory capacity in capital markets is an essential condition for building investor confidence.."

On her part, Uduk believed that "..this collaboration will no doubt contribute to the continued development of our market by facilitating access to capital by both private and public sectors and enhance competitiveness of the market".

This will not be the first time FSD Africa has committed to giving African markets a lift. On going is a 2 year partnership to provide £230,000 grant for industry wide support for development of alternative capital raising platforms that help connect diverse sources of capital.

FSD Africa has also recently committed to investing £1.6m in South Africa's Sofala Capital Pty in the form of equity and credit investment.

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