• Wednesday, December 06, 2023
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Capital market critical to Lagos economic progress – Sanwo-Olu

About N8.4 billion loan has been disbursed to support over 12,710 micro, small, and medium enterprises (MSMEs) over the last four years, Babajide Sanwo-Olu, Lagos State Governor has said.

Lagos State Governor, Babajide Sanwo-Olu, has underscored the critical role the capital market plays in driving the state’s economic progress and development initiatives.

The governor also highlighted the intrinsic relationship between Lagos State and the capital market.

Sanwo-Olu stated this during the 3rd biennial West Africa Capital Markets Conference (WACMaC), as market operators converged on Lagos to proffer solutions to the region’s infrastructure deficit.

The conference, sponsored by Coronation Group, serves as a pivotal platform for capital market, financial leaders and industry experts to deliberate on infrastructure financing in the region.

Tagged, ‘Infrastructural deficit and sustainable financing in an integrated West Africa Capital Market,’ the WACMaC 2023, seeks to address critical financing gaps in the sector and establish effective mechanisms for fostering sustainable infrastructure development and economic growth across the continent.

Read also: Shettima says capital markets can help bridge infrastructure gap

The conference was organized by the Securities and Exchange Commission (SEC) Nigeria, Securities and Exchange Commission, Ghana, and Association of the Management of Financial Institutions in Africa, in collaboration with other securities regulators associations.

“We recognize the urgent need to transform Africa’s financial landscape. Our sponsorship of the 2023 West Africa Capital Markets Conference underscores Coronation’s commitment to economic growth in the region through innovative financial solutions and deep collaboration with key industry players. We firmly believe that these discussions play a crucial role in shaping the policies and initiatives that will propel our continent towards progress,” Wole Onasanya, CEO, Coronation Group, stated.

Onasanya disclosed that the conference aligns with Coronation Group’s mission to provide transformative solutions to Africa’s unique challenges. He stated further that as part of the mission, the Group will roll out targeted financial propositions, to bridge infrastructural gaps and enhance economic value on the continent.

According to him, the company anticipates WACMaC 2023 to be a forum where ideas will be refined, partnerships will flourish, and a transformative roadmap for the region’s financial future will emerge.

“Our sponsorship reflects our enduring dedication to enhancing the financial fabric of Africa. A vibrant capital market is pivotal in driving sustainable growth, and we are proud to be at the forefront of this transformative conversation,” Aigboje Aig-Imoukhuede, said.

The conference witnessed the active participation of industry experts, including Daniel Ogbarmey Tetteh, Director-General of SEC Ghana, and Lamido Yuguda, Director-General of SEC Nigeria.