13 February 2014

West Africa: Integration of West African Capital Markets Excites Operators

Capital market operators from Nigeria and Ghana Wednesday expressed enthusiasm and excitement over the efforts to integrate the West African capital markets, saying it will bring many benefits to  all stakeholders.

The brokers spoke to THISDAY in Lagos during the sensitisation workshop organised by the West Africa Capital Market Integration Council (WACMIC), the body saddled with the task of facilitating the integration process.

The Executive Director, Dunn Loren Merrifield Securities Limited, Mr.Idowu Ogedengbe, said the prospects of the integration are great, especially for investors.

"As an investor, you have opportunity to trade across various markets and asset classes, particularly the asset classes you feel will give you the best returns from a different market. You could trade across the various countries across the West Africa region. And that to me, gives an average investor a wide opportunity to get a better return on his investments," he said.

The Managing Director of APT Securities and Funds Limited, Mr. Kasimu Kurfi, said the integration will give investors opportunity to share from other markets.

"If you look at last year, our market gained about 47 per cent, while the Ghana Stock Exchange (GSE) gained about 75 per cent. By this Nigerians can also benefit from there. The markets do not grow at the same rate. So if you see that there is a market that is doing better than your own, you can take advantage and benefit from there," he said.

According to Atiku Kafaru of Express Discount Management Limited, "the integration will deepen our market and people will have opportunity of tasting what is available in other jurisdictions for the benefit of stakeholders."

The Chief Executive of CAL Stockbrokers Limited of Ghana, Mr. David Tetteh, said the integration is a fantastic opportunity for everyone in the sub-region.

"It is fantastic for us and the value propositions that will emanate from an integrated market are great. It will be good business for market participants across the region. So it is a fantastic opportunity for all of us," Tetteh said.

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