ECA helps promote capital market integration in Africa

BUJUMBURA, 7 June - Participants from some 20 francophone countries in central and west Africa met in the Burundi capital Bujumbura on 6 June for a three-day workshop aimed at boosting the efficiency of capital markets operators and regulators.

This is the fourth in a series of training workshops organized by the Economic Commission for Africa (ECA) under the auspices of its Economic and Social Policy Division (ESPD).

“Regulation is a crucial link in the development of efficient capital markets,” said ECA economic affairs officer Adam Elhiraika.

He added that this series of workshops is an important step in ensuring coherence in the regulatory models and operational systems applied by specialists in Africa. The intention is to facilitate efficient capital market regulation and harmonize regulations across countries.

“There is a common understanding that capital market efficiency on the continent will improve through regional integration of individual country capital markets, which are generally very small,” said Elhiraika. “The lack of well-trained professionals capable of ensuring efficient market operations and regulation is one of the main factors hampering capital market development in Africa.”

ECA has produced a manual for capital markets in francophone central and west Africa which provides a comprehensive view of capital market institutional and operational infrastructures. It also serves to assist regulators in acquiring or upgrading skills in regulatory functions and models, market monitoring and surveillance systems, and adoption of international regulatory standards to facilitate increased integration of markets regionally and internationally.

ECA has previously held similar workshops in Abuja, Dakar, and Accra. To close the series, an all-Africa regional forum on capital markets development will be held in Nairobi later in November.

Enquiries and information regarding the workshop should be sent to:

Dr. Adam Elhiraika, Economic Affairs Officer, Economic and Social Policy Division (ESPD), Economic Commission for Africa; P.O. Box 3001, Addis Ababa, Ethiopia; e-mail: aelhiraika@uneca.org and Fax: (251-11) 5510389.

For media inquiries please contact:

Cristina R Müller, Communication Officer, Economic and Social Policy Division (ESPD), Economic Commission for Africa; P.O. Box 3001, Addis Ababa, Ethiopia; e-mail: cmuller@uneca.org telephone: (251-11) 544 5401.