W’African Securities Regulators To Institute Bond Issuance Framework

W’African Securities Regulators To Institute Bond Issuance Framework

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Post Views: 545 Photo Caption: Director General Securities and Exchange Commission Ghana, Jacob Aidoo, Chairman West African Securities Regulatory Aut...

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Photo Caption: Director General Securities and Exchange Commission Ghana, Jacob Aidoo, Chairman West African Securities Regulatory Authorities, WASRA Mory Soumahoro and Acting Director General Securities and Exchange Commission Nigeria, Dr. Abdul Zubair during the WASRA meeting in Abidjan last weekend.

The West African Securities Regulatory Authorities (WASRA), said at the weekend in Abidjan, Côte d’Ivoire, that it is working on establishing a regional bond issuing framework for infrastructure financing in the region.
Rising from a meeting, the group said it is working towards building relationship between WASRA and ECOWAS Commission, the supervision model needed for the establishment of cross border transaction and issuers, the development of the WASRA website.
WASRA comprises sub-regional capital market regulators who came together in 2015 to fashion modalities and establish an umbrella body as mutually acceptable basis for cooperation and consultations aimed at fostering market integration in the region.
It was also established a mutually acceptable basis for cooperation and consultations in a bid to foster market integration in the region.
Also on the card, according to Soumahoro Executive Secretary of Le Conseil Regional de l’Epargne Publique et des Marches Financiers (CREPMF), Abidjan whose tenure was extended for another two years, is the signing of a Revised Charter of WASRA and the assigning of web master to a member country amongst others.
Soumahoro thanked the members for the confidence and the leadership bestowed on him and he spoke on his desire to continue the efforts already in place that brought the organization to its current dimension.
He expressed pleasure at the “opportunity and for the confidence bestowed on me and looking forward to strengthen our cooperation by looking at the same direction with the specificity of our respective markets to strengthen integration in our region”.
Also speaking, Acting Director General, SEC Nigeria, Dr. Abdul Zubair, commended WASRA members on their determination to building a strong and competitive regional market that will rank at par with the markets of other regions of the world, and more importantly, in the areas of transparency, disclosure, efficiency, accountability and indeed, investor protection.
While congratulating the Chairman on his election, Zubair also noted the imperative of a cohesive collaboration between the relevant regulators, operators and other stakeholders in West Africa, and the need to ensure that adequate resources are devoted.
Others at the meeting included the DG of SEC Ghana, Rev. Daniel Obgarmey Tetteh and Mory Soumahoro, the Secretary General of CEPMF (Chairman WASRA).
Others were: Members of the Technical Committee (TC) from SEC Ghana Jacob Aidoo, Caliis Badoo, the Secretariat, Harouna Ouedraogo and two observers from SEC Nigeria, Tony Iloka and Mrs Amina Abakura.

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