E-Financial
ASEA, ECA Sign MOU for Africa Financial Market Development, Integration
The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have announced the signing of a landmark Memorandum of Understanding (MOU), which aims at fostering closer collaboration and drive financial market development, integration on the African continent for sustainable development.
The MOU signed yesterday marks a significant milestone in the efforts to develop Africa’s capital markets, build market capacity, enhance investor confidence, facilitates peer-learning, and promote regional integration.
By leveraging their respective expertise, ASEA and ECA will jointly work on several key areas of cooperation as outlined by the MOU, including: Studies and research on financial market development and integration in Africa, training and technical cooperation at national, sub-regional, and continental levels and policy dialogues and advocacy for African countries
Mr. Thapelo Tsheole, President of ASEA and CEO of Botswana Stock Exchange, attended the signing ceremony in person in Addis Ababa.
He hailed the partnership between ASEA and ECA and said “This MOU represents a significant step forward in our collective efforts to develop robust and sustainable capital markets across Africa.
“By working together, we will create an enabling environment for businesses, foster investor confidence, and contribute to the overall economic growth and prosperity of the continent.”
Mr. Robert Lisinge, Officer-in-Charge, Private Sector Development and Finance Division, ECA, welcomed the ASEA delegation and noted that at the time of uncertainty and turbulence, “it’s critical for development partners to speed up their efforts in helping African countries develop their domestic capital markets, to not only mobilize resources and attract investments but also build resilience with market depth.”
He commended ASEA’s work in build market connectivity in Africa and expected fruitful and impactful projects between ECA and ASEA for African countries to develop and integrate their capital markets.
On his part, Jude Chiemeka, Divisional Head, Capital Markets at Nigerian Exchange Limited (NGX), lauded the partnership and added that this will broaden the range of financial services and investment opportunities available to both local and foreign investors.
Before the signing ceremony, ASEA and ECA representatives had friendly exchanges on different topics for financial market development in Africa.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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