SEC partners FSD Africa to boost investors’ confidence

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The Securities and Exchange Commission (SEC) and FSD Africa have concluded a £450,000 deal. The deal which was concluded over the weekend will strengthen the regulatory structure and investment protection function of the SEC.

British Deputy High Commissioner, Laure Beaufils, during the signing, said for the country’s capital market to attract the much-sought-after investment and boost investors’ confidence, there is a need to establish strong regulations of international standards.

The deal is expected to assist SEC to fund an institutional capacity audit towards identifying strengths and areas of improvement in its operations, as well as provide support to implement recommendations.

According to Beaufils, through the capital market, investments are channelled in infrastructure for the long-term development of the nation’s economy in the areas of job creation, small businesses and ultimately, inclusive growth.

SEC’s partnership with FSD Africa, according to the Acting Director General of the SEC, Mary Uduk, is all about international cooperation, international finance, and being reassured that it is safe to do business here.

Uduk stated that the capital markets have an essential role to play to help unlock capital that can be invested in the real economy and that can contribute to job creation and inclusive growth.

To make the deal come to fruition, Uduk stated that the commission will provide £22,000 as part of its contributions to support the efforts aimed at promoting a world-class market.

Uduk added that the collaboration will contribute to the continued development of the market by facilitating access to capital by both the private and public sectors and enhance the competitiveness of the Nigerian capital market as a global investment destination.

Speaking on the deal, the Director, FSD Africa, Mark Napier said well-functioning capital markets can play a vital role in support of inclusive economic growth by channelling long-term finance into infrastructure and other large-scale projects that create jobs and improve access to markets.

 

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