Leaders in Africa’s capital markets have called for appropriate regulatory reforms and digital innovation to drive the continent’s market expansion. They also stressed the need for modernisation to enhance liquidity, attract investment and ensure long-term growth.

The discussion took centre stage at the African Securities Exchanges Association (ASEA) Q1 webinar held last week. With the theme Enhancing Equity Markets for Sustainable Growth, the webinar brought together key stakeholders to explore strategies for advancing African capital markets.

The industry leaders highlighted the need for cross-border listings, financial inclusion, and asset tokenisation as critical components of future growth. They underscored the importance of leveraging blockchain-driven solutions, tokenised securities, and digital assets like stable coins to strengthen market competitiveness and attract capital inflows.

Chief Executive Officer (CEO) of Nigerian Exchange Limited (NGX), Jude Chiemeka, stressed the urgency of digital transformation in Africa’s financial markets.

Africa’s capital markets must keep pace with the digital revolution. NGX is modernising regulations, driving innovation, and creating products for SMEs and young investors to ensure broad market participation,” he said.

He also emphasised the need for collaboration among exchanges, governments, and market stakeholders to streamline listing requirements and integrate technology into mainstream finance.

The CEO of the World Federation of Exchanges, Nandini Sukumar, commended the NGX Group’s efforts in supporting the development of Ethiopia’s Securities Exchange (ESX). She urged African policymakers to implement regulatory reforms that would improve access to capital and foster a more inclusive investment environment, particularly in emerging economies.

In addition, ASEA President and CEO of the Rwanda Stock Exchange, Pierre Celestine Rwabukumba, reiterated the importance of mobilizing capital through exchanges. Similarly, Nairobi Securities Exchange CEO Frank Mwiti pointed to the rising significance of stablecoins and tokenised securities in modernizing Africa’s financial landscape.

Also speaking, the Project Manager of the African Exchanges Linkage Project (AELP), Lina Tonui, highlighted the role of regional collaboration in boosting liquidity, enhancing investor confidence, and elevating Africa’s position in the global financial market.