Africa
THE Economic Commission for Africa, ECA, in collaboration with the West African Monetary Institute, WAMI, has successfully concluded the second part of its series of workshops aimed at developing capital markets in West Africa. Following the initial workshops in Guinea and Sierra Leone, this phase focused on The Gambia (14- 15 November 2024) and Liberia (11-12 November 2024), bringing together key stakeholders to enhance financial infrastructure and promote sustainable economic growth.
Capital markets development is crucial for the economic advancement of The Gambia and Liberia. Robust capital markets provide a platform for raising long-term capital, which is essential for funding infrastructure projects, fostering entrepreneurship, and stimulating economic growth. By facilitating the efficient allocation of resources, capital markets can help reduce poverty and improve living standards in these countries.
The workshops emphasized the importance of robust regulatory frameworks to ensure transparency, efficiency, and investor protection in the capital markets of The Gambia and Liberia. Participants received extensive training to improve the skills of regulators, market operators, and other stakeholders, fostering a more knowledgeable and capable financial sector. Strategies to attract both domestic and foreign investment were discussed, highlighting the potential returns and stability of the financial environment in these countries.
Additionally, the role of technology in modernizing capital markets was a key focus, with sessions on implementing digital platforms and fintech solutions to enhance market operations and accessibility.
The key recommendations to drive the capital markets development agenda in The Gambia and Liberia include strengthening legal and regulatory frameworks to ensure market integrity and investor confidence, building capacity through continuous training for regulators and market participants, promoting public awareness and education about the benefits of capital markets, leveraging advanced technologies to modernize market infrastructure and enhance transparency, and encouraging regional integration to create larger, more liquid markets that can attract significant investment flows.
These measures are essential for fostering a stable, efficient, and inclusive financial environment that supports sustainable economic growth. The workshops concluded with a presentation of a roadmap for the continued development of capital markets in The Gambia and Liberia.
A.I
Nov. 28, 2024
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