Capital Markets Regulator wins coveted Africa Award for innovation

23Sep 2016
The Guardian Reporter
The Guardian
Capital Markets Regulator wins coveted Africa Award for innovation

THE country’s capital markets regulator won a coveted Africa Investor Capital Markets Index Series Award for 2016 beating some of the continent’s best regulatory authorities in the process.

Africa investor (Ai), which organises the award, said the results showcase the best of Africa’s investment success stories through the prestigious Ai Capital Market Index Series Awards.

Capital Markets and Securities Authority beat well established and long term established stock market regulators on the continent which included: Namibia Financial Institutions Supervisory Authority, Financial Services Commission of Mauritius and Capital Markets Authority Kenya.
Other shortlisted regulatory bodies were:

Non-Bank Financial Institutions Regulatory Authority of Botswana, Capital Markets Authority Uganda, Securities Exchange Commission of Nigeria, Securities and Exchange Commission of Ghana and Financial Services Board of South Africa.

In a statement, Ai said the Ai Capital Market Index Series Awards recognise the achievements of capital market regulators, stock exchanges, investors, business leaders, and institutions improving Africa’s capital market investment climate.

“For nearly a decade, Africa investor has been proud to host this platform to highlight the best in African institutional and capital market investment transactions,” said Ai Chief Executive Officer and Vice Chairman, Hubert Danso.

Danso pointed out that this year, as a special recognition, the outstanding African, global and up-and-coming institutional investment personalities were also honoured during the Summit at the NASDAQ Exchange in Time Square, New York.

“Over this time, we have seen the quality, innovation and quantity of transactions increase exponentially and we are delighted this year to continue our vision to bring global recognition to the organisations and personalities driving and unlocking Africa’s investment potential,” Danso noted.

Launched in 2007, the Awards are based around the Africa investor-owned Ai Index Series, and are designed to recognise Africa’s best performing regulators, stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies, fund managers and institutional investors.

“Once again, this latest Ai Index Series Awards winners attests to the world class quality and investment leadership that prevails in Africa, and we are delighted to be able to recognise them, along with all the shortlisted companies in all the hotly contested categories,” Danso stressed.

Among other achievement which paved way for the CMSA success is the efficiency in supervising the Initial Public Offer and self listing of Dar es Salaam Stock Exchange, which became the third stock exchange demutualised in Africa after Johannesburg Stock Exchange (JSE) and Nairobi Securities Exchange (NSE).

The award also recognises CMSA’s role in allowing the buying of shares using mobile phones in the primary and secondary markets, issuance of retail bonds by corporate institutions, investor education through competition among universities and higher learning institutions using internet and mobile phones and removal of restrictions for foreign investors in listed equity securities and corporate bonds.

“These developments are expected to position the capital markets to play a pivotal role in mobilizing long term finance to support critical development projects in Tanzania,” the Ai said in its statement.

The Summit featured a high-level dialogue with the New Partnership for African Development (NEPAD) continental business network, United Nations Economic Commission for Africa and Ai.

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