Unlocking growth in Africa’s capital market
With economic growths in Africa showing strong recoveries from the impact of the Covid-19 pandemic, what role does the capital market play in attracting and boosting investment? Haruna Jalo-Waziri, Chief Executive Officer of Central Securities Clearing System, joins CNBC Africa to discuss this and more.
Mon, 28 Feb 2022 11:42:44 GMT
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AI Generated Summary
- Importance of organizations like AMIDA in fostering collaboration and building local markets across Africa and the Middle East.
- Role of CSCS in providing transparency and assurance for private market transactions in Nigeria.
- Collaboration with ISSA to promote standards and best practices in the securities market and drive regulatory recommendations.
Unlocking growth in Africa’s capital market has become a key focus for investors and market players looking to capitalize on the continent's economic recovery post-Covid. Haruna Jalo-Waziri, Chief Executive Officer of Central Securities Clearing System, recently shared insights on the role of the capital market in attracting and boosting investment in an interview with CNBC Africa. Jalo-Waziri highlighted the importance of organizations like the African Middle East Depositories Association (AMIDA) in fostering collaboration, sharing best practices, and building local markets across Africa and the Middle East.
With the global appetite for private market transactions on the rise, Central Security Clearing System (CSCS) in Nigeria is playing a crucial role in providing transparency and assurance to investors. Jalo-Waziri emphasized the need for organizations like CSCS to act as intermediaries to instill confidence in private market transactions and facilitate bilateral trust.
Collaboration and partnerships with organizations like the International Securities Services Association (ISSA) are also instrumental in promoting standards and best practices in the securities market. Jalo-Waziri highlighted the alignment of AMIDA with ISSA in driving regulatory recommendations and standards that will benefit the Nigerian market.
Under Jalo-Waziri's leadership, CSCS in Nigeria has achieved significant milestones in enhancing operational efficiency, service delivery to market participants, and technological advancements. Through initiatives like Rush Connect, CSCS has facilitated seamless connections between registrars and stakeholders, providing a solid foundation for automation and cost-effective solutions.
Looking ahead to 2022, Jalo-Waziri envisions continued automation, expanded services, and increased transaction volume for CSCS. Market participants can expect a focus on innovative solutions, enhanced operational capabilities, and a commitment to driving growth and efficiency in the Nigerian capital market.
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