Infrastructural Deficits, Others Top Agenda As SEC Hosts WACMAC

The need to tackle infrastructure deficit in the West African sub-region as well as embrace principles of sustainable finance in a bid to promote economic development are some of the issues to be discussed as the Securities and Exchange Commission(SEC) Nigeria hosts the third biennial West Africa Capital Market Conference (WACMAC) 2023.

The conference, with the theme ‘Infrastructural Deficit and Sustainable Financing in an Integrated West Africa Capital Market’ will be held in Lagos in October.

Director-general of SEC, Mr. Lamido Yuguda, who is also chairman of the West Africa Securities Regulators Association (WASRA) said, the conference was jointly hosted by WASRA, the Economic Community of West African States (ECOWAS), the West Africa Capital Market Integration Council (WACMIC), and the West African Monetary Institute (WAMI).

According to Yuguda, this year’s conference is particularly significant as over 300 stakeholders will convene in Lagos from October 25 and 26, 2023 to discuss the general theme ‘Infrastructural deficit and Sustainable Financing in an Integrated West Africa Capital market’.

“The WACMAC 2023 provides us with a unique platform to engage in meaningful discussions, share insights, and forge partnerships that will help shape the future of our capital markets, we have brought together a distinguished array of experts, regulators, policymakers, and industry leaders who will share their knowledge, experiences, and strategies to proffer solutions to the region’s infrastructure deficit,” he said.

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Yuguda added that the deficit posed a significant challenge to the region’s sustainable development adding that, to address this gap, there is a growing need to adopt innovative financing mechanisms, and sustainable financing options to mobilise the desired funds to meet the region’s critical infrastructure needs, foster economic growth, and achieve sustainable development goals.