Stakeholders Seek Stronger Capital Markets To Finance Africa’s Development

Stakeholders in Nigeria’s financial sector have stressed the need for stronger, more efficient capital markets to drive Africa’s economic transformation, mobilise long-term investment, and support sustainable development across the continent.

The call was made at the maiden International Academic Conference of the Chartered Institute of Stockbrokers (CIS), themed “Capital Markets, Sustainable Finance and Economic Transformation in Africa,” held in Ado-Ekiti.

The conference brought together academics, regulators, policymakers, investors, and capital market operators to explore strategies to strengthen Africa’s financial ecosystem, promote sustainable finance, and enhance financial literacy.

Ekiti State Governor, Mr Biodun Oyebanji, commended the initiative, describing it as a strategic platform for collaboration between academia and capital market stakeholders.

Represented by the Commissioner for Industry, Trade and Investment, Tayo Adeola, Oyebanji said African capital markets must play a leading role in financing infrastructure, supporting enterprise growth, and accelerating sustainable economic development.

He highlighted Ekiti State’s infrastructure financing efforts, including the N32.5 billion, 20-year infrastructure bond issued in April 2025 to fund a 17.84-kilometre dual carriageway toll road project as part of a wider road network initiative.

Oyebanji also cited the state’s public-private partnership model in the energy sector through the Ekiti Independent Power Project involving Ekiti IPP Limited, Olokiti Distribution Network Limited, and Fenchurch Power Limited.

Founder and Chancellor of Afe Babalola University, Aare Afe Babalola, praised the CIS for choosing the institution as host of the inaugural conference, noting that the initiative would improve capital market literacy and contribute to national development.

Director-General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, urged African academics to deepen collaboration with regulators through research and data-driven studies on liquidity, investor behaviour, and market regulation.

“The academy is not a spectator of Africa’s transformation but a co-author,” Agama stated.

President and Chairman of Council of the CIS, Mrs Fiona Ahimie, described the conference as a landmark initiative aimed at strengthening collaboration between academia and industry while advancing sustainable finance and innovation across Africa.

Vice Chancellor of ABUAD, Prof. Smaranda Olarinde, said the conference came at a crucial time to deepen capital markets, expand financial inclusion, and mobilise long-term investment.

She added that the Institute’s support for student certification and brokerage accounts would improve students’ practical exposure and enhance employability in the financial sector.