EnterpriseNGR launches financial centres in three African countries

EnterpriseNGR, a member-led professional advocacy group, has signed a Memorandum of Understanding (MoU) to set up the Africa Roundtable of Financial Centres, a chapter of the World Alliance of International Financial Centres, in Mauritius, Morocco, and Rwanda.

In a statement on Thursday, the group said it was joining forces with the three countries to specifically pursue five key objectives.

“These objectives include “Jointly strengthening the competitiveness of financial centres in Africa. Collaborate through projects, research papers, communiques, and events to position the African continent, demonstrate the myriad of investment opportunities, and showcase the role that financial centres play within the African continent,” the statement said.

“Conduct joint initiatives to supply and internationally, and provide African financial centres with a unified voice regionally and internationally. Facilitate the development of dialogue with major financial centres outside the African continent and build communication channels with African institutions, including regulators and policymakers, as well as African financial services industry associations, and advocate for regulatory coordination amongst members of the Africa roundtable to promote cross-border investments and financial services,” it added.

Ken Poonoosamy, chairperson of the Africa roundtable, said the signing of the MoU represents a pivotal stride in fostering synergy among financial hubs within the African sphere, with the shared objective of catalysing economic advancement across the continent

The MoU, signed last week in Mauritius, brings together EnterpriseNGR, the Economic Development Board of Mauritius, Casablanca Finance City Authority, and Rwanda Finance Limited to foster collaboration, promote investment opportunities, and drive sustainable development within the financial centres of its member countries and Africa at large.

“It is a historic achievement, and EnterpriseNGR fully endorses the Africa Roundtable of the WAIFC and is excited about the immense opportunities it represents for Nigeria and the African continent. Our collaboration with the four African countries promises to bolster financial competitiveness on the Continent and amplify Africa’s global presence,” Obi Ibekwe, CEO of EnterpriseNGR said.