The ECOWAS Private Sector Directorate convened a meeting with the Technical Committee of the West African Securities Regulators Association (WASRA) in Abidjan, Côte d’Ivoire, from January 27 to 30, 2025. The gathering was aimed at advancing the implementation of the ECOWAS Commission’s economic integration program.
Dr. Tony Luka Elumelu, Acting Director of the Private Sector Directorate of ECOWAS, represented Commissioner for Economic Affairs and Agriculture, Mme Massandje Toure-Litse. In his opening remarks, the Ivorian Deputy Private Sector Director emphasized that capital market integration is crucial for fostering economic growth, financial inclusion, and sustainable development in the 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 stated.
He encouraged stakeholders including policymakers, regulators, financial institutions, and private sector players to use this meeting as an opportunity 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,” he concluded.
WASRA plays a significant role in policy harmonization and capacity building among member states to develop a resilient financial system. By promoting compliance with international standards and encouraging digital financial solutions innovation, WASRA aims to establish a unified regional market.
