The need to develop the African capital markets has once again received priority from key stakeholders in the continent.
The African Development Bank, AfDB and the African Securities Exchanges Association (ASEA) said they have signed a 5-year Memorandum of Understanding, MoU to amplify the impact of their strategically aligned joint efforts to promote resources mobilization to fund Africa’s economic growth.
According to the statement made available by the Nigeria Stock Exchange, NSE the MoU “will provide a collaborative framework for harmonizing and coordinating the efforts of AfDB, the premier international development financial institution for Africa, and ASEA, the premier body of African stock exchanges, towards deepening and connecting African financial markets.”
ASEA is the premier Association of 25 securities exchanges in Africa. According to the framework setting up ASEA, the association is aimed at developing Member Exchanges, enhancing the global competitiveness of Member Exchanges and providing a platform for networking and exchange of information.
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