The West African Securities Regulatory Authorities is planning to establish a regional bond issuing framework for infrastructure financing in the region.
This was one of the high points of the meeting of the body held in Abidjan, Côte d’Ivoire last weekend, the Securities and Exchange Commission, Nigeria, said on Monday.
Also, the body 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, the signing of the Revised Charter of WASRA and the assigning of web master to a member country, among others.
The Chairman, WASRA, Mr. Mory Soumahoro, whose tenure was extended for another two years, stated this at the end of the meeting.
Soumahoro thanked the members for the confidence bestowed on him while speaking on his desire to continue the efforts already in place that brought the organisation to its current state.
He said, “I am pleased with this 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.”
In his remarks, the Acting Director-General, SEC Nigeria, Dr. Abdul Zubair, commended WASRA members for their determination to build a strong and competitive regional market that would 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.
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