FBN Capital seeks collaborative efforts in building African stock exchanges
FBN Capital has called for a supportive knowledge and capacity building initiatives, which will empower and remove impediments that impact the ability of African exchanges to handle sizeable capital inflows.
The Head of the Equity Brokerage at FBN Capital,Temitope Adeosun, stated this at the recently-concluded fifth edition of the ‘Building African Financial Markets (BAFM) Capacity Building Seminar’, hosted by the Nigerian Stock Exchange, in partnership with the African Securities Exchanges Association (ASEA) in Lagos.
He noted that as part of the largest financial services group in Africa, innovative solutions are required, especially in this era of ‘technology-on-the-go’ as technology can be a powerful tool for the congregation of diverse markets.
He, however, added that the encouragement of this growth by every market participants would be critical to success.
“Capital market and financial sector development is an important facilitator of economic growth in sub-Saharan Africa. It should be recognized as a legitimate component of a country’s development program and should receive the support of government departments and agencies through allocations of their staff and financial resources.
“Innovation, optimal market structure and technology were major highlights identified to address low liquidity in African Capital markets,” he said.
The seminar, was focused on addressing liquidity concern in African capital markets and the evolution of local regulation, to increasingly provide the opportunity for pension funds to diversify their expanding portfolios beyond equity investments in traditional sectors.
Adeosun maintained that Innovation, optimal market structure and technology were major highlights identified to address low liquidity in African Capital markets.
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