Abubakar Hashim
The third West Africa Capital Market kicks off in Lagos, with Presidents, leading captains of industries, Policy makers, capital market operators and industrial journalists in attendance.
The significance of the conference is two fold:
- Fix the huge infrastructure deficits in the region, through the establishment of infrastructure banks, anchored on strong capital markets in West Africa.
- The conference aims to drastically reduce foreign borrowings. The region’s external debts is alarmingly huge, about 80% to its GDP.
The conference is organised by the ECOWAS, in collaboration with the West Africa Security Exchange Commission.
If West Africa can fix a strong and viable capital market, it will promote industrialisation in the region.
Virtually all West African Presidents were present at the conference in Laos that ended yesterday.
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