The 8th edition of the Building African Financial Markets (BAFM) Seminar was hosted by the Bourse Regional des Valeurs Mobilieres (BRVM) on April 25-26, 2019 in Abidjan, Ivory Coast. This year’s theme Human Capital: A Cornerstone for Competitive African Capital Markets; supported the importance of competitiveness in deepening our markets and ultimately contributing to a sustainable and inclusive growth of the African continent.
The 8th BAFM Seminar is an annual capacity building initiative by the African Securities Exchanges Association (ASEA or the Association) which was designed to equip players in the African financial markets with knowledge and skills on emerging issues within the industry, so as to compete effectively on the global platform. This year’s Seminar was attended by over 200 delegates representing various players within ASEA Member Exchanges’ jurisdictions. The panel of speakers comprised of experts from renown institutions such as the Africa Capacity Building Foundation, the World Federation of Exchanges, NASDAQ and the African Development Bank among others.
The opening ceremony of the 8th BAFM Seminar was officiated by senior officials from the Republic of Ivory Coast, namely H.E. Daniel Kablan Duncan the Vice-President of the Republic of Ivory Coast, the Minister of Commerce, Industry and promotion of SMEs as well as heads of diplomatic missions in Ivory Coast.
During the opening ceremony, H.E. Daniel Kablan Duncan said: according to a World Bank study, our continent's delay on the poverty front stems from insufficient investment in the human population. As proof, 25 of the 30 countries at the bottom of the Human Capital Index rank are unfortunately in Africa. This study states that our continent could have a GDP per capita 2.5 times higher than its current level, if it invested enough in its human capital, that is to say, in particular, in education, health and Social Protection.
The President of ASEA, Mr. Karim Hajji also noted that: the Association recently adopted the agenda of Capacity Building as one of its strategic objectives as a driver of robust African capital markets. The capacity building effort will focus on upscaling the skills of the technical or operational resources in the industry and on sensitizing key decision makers.
The Vice-President of ASEA, Dr. Edoh Kossi Amenounve added: Given, the differences in the level of stock market development in Africa, continental capacity-building initiatives are the best tool for reducing existing inequalities, creating synergies between fellowships and promoting experience.
