ECOWAS PRIVATE SECTOR DEPARTMENT HOSTS TECHNICAL COMMITTEE OF THE WEST AFRICAN SECURITIES REGULATORS ASSOCIATION (WASRA)

The ECOWAS Private Sector Directorate, under the leadership of the Commissioner for Economic Affairs and Agriculture, Mme Massandje TOURE-LITSE, represented by Dr. Tony Luka ELUMELU, Acting Director of the Private Sector Directorate of ECOWAS, met from January 27 to 30, 2025 with the Technical Co-mittee of the West African Securities Regulators Association (WASRA) in Abidjan, Côte d’Ivoire, for  a stakeholders consultative meeting  aimed at furthering the implementation of the ECOWAS Commission’s economic integration program.

In his opening speech, the Ivorian Deputy Private Sector Director said that capital market integration is essential to foster economic growth, financial inclusion and sustainable development in our region.

“By harmonizing regulatory frameworks and facilitating cross-border capital flows, we can unlock vast opportunities for infrastructure development, job creation and regional competitiveness,” he said.

He urged all stakeholders comprising  policymakers, regulators, financial institutions and private sector players to seize the opportunity  provided by the meeting for collaboration and innovation.

“Together, we can create a capital market that not only stimulates economic growth, but also ensures shared prosperity for all member states. By aligning our initiatives with the FTAA trade and investment agenda, we can attract foreign direct investment, improve cross-border transactions and make West Africa a dynamic hub for intra-African trade and investment,” concluded the Ivorian deputy private sector director.

The West African Securities Regulators Association (WASRA) plays a crucial role in harmonizing policies, enhancing capacity building and fostering collaboration between member states to build a resilient and inclusive financial system. By promoting compliance with international standards and encouraging innovation through digital financial solutions, WASRA is paving the way for a unified regional market.