Nigeria’s Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with Rwanda’s Capital Markets Authority (CMA) to strengthen regulatory cooperation, promote cross-border investments, and accelerate the integration of African capital markets. The agreement was signed in Abuja by SEC Director-General Emomotimi Agama and CMA Rwanda Chief Executive Officer Romeo Ngarambe.
The partnership establishes a framework for collaboration in market supervision, enforcement, investor protection, investor education, information sharing, technical assistance, capacity building, and capital market development. Regulators from both countries said the agreement is intended to foster stronger, more transparent, and resilient financial markets across the continent.
Speaking at the signing ceremony, Agama stressed the importance of greater cooperation among African capital markets, urging countries to invest more within the continent and harmonise regulations to unlock long-term economic growth. He noted that integrated capital markets can play a critical role in mobilising funding for infrastructure projects and supporting sustainable development across Africa.
Ngarambe said Rwanda hopes to leverage Nigeria’s experience in capital market development while strengthening collaboration on regulatory best practices, innovation, and investor confidence. He described the agreement as an opportunity to accelerate knowledge sharing and create new investment opportunities for businesses and investors in both countries.
According to the SEC, the MoU also supports broader regional and international engagement by encouraging closer alignment of regulatory standards, promoting sound market practices, and facilitating cross-border listings and investment activities. The collaboration is expected to make it easier for investors to participate in both markets while strengthening regulatory oversight.
The agreement forms part of Nigeria’s wider strategy to deepen regional financial integration following the enactment of the Investments and Securities Act 2025. The SEC has continued to expand partnerships with other African regulators to support the financial services objectives of the African Continental Free Trade Area and improve the continent’s investment environment. Industry experts believe stronger cooperation among African capital market regulators could improve investor confidence, increase cross-border capital flows, and enhance access to long-term financing for infrastructure, industrialisation, and private sector development. The initiative is also expected to strengthen Africa’s position as an increasingly integrated investment destination.
