The Harmonization of the capitals markets in West Africa will create the source of long term capital for local businesses, The Managing Director of the Ghana Stock Exchange Ekow Afedzie has said.
Speaking to Xinhua here on Wednesday, Afedzie said the preparatory work was complete, for the harmonization to start by the second half of 2020.
“Once we harmonize the markets, we open up the market to many other investors across West Africa, As we do that we have a larger pool of funds, across the sub-region,” the official said.
He added, “Then entrepreneurs can have access to long term capital, and also liquidity will be assured.”
The Anglophone and Francophone zones in West Africa have been working over the past five years to harmonize their capital markets. The West African Association of securities regulators has been tasked to grant licenses or recognition for brokers to trade across the sub-region.
“What we have left is to gain the recognition from ECOWAS, so it can be binding on all of us to allow for cross-border trading,” he added. Enditem