Audio By Carbonatix
Managers of Ghana, Nigeria and Ivory Coast Stock Exchanges are looking at first harmonizing their rules by 2014 before integrating their markets.
Supervisors of the three markets last week met in Accra to finalize agreements that will guide their integration.
This should see the stock exchanges in these countries linked up and trading in shares of companies across the markets.
Chief Executive and Managing Director of Nigerian Stock Exchange, Oscar Onyema told JOYBUSINESS the integration is crucial in growing markets in the region.
According to him, “If you look at what is going on around the globe, a lot of flows are actually leaving the developed markets and looking for where to go, and are markets not deep and liquid enough and we do not have compiling list of companies as individuals markets, if we come together we stand a better chance".
He added, “So the sooner we come together, the faster we can take advantage of the struggles that the developed markets are facing, because really Africa has become a focus for portfolio managers”.
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