WAIFC sets out objectives for Africa financial center competitiveness

Members of the World Alliance of International Financial Centers (WAIFC) of the African continent have set up the Africa Roundtable, which includes the Economic Development Board of Mauritius (EDB), Casablanca Finance City Authority (CFCA), EnterpriseNGR of Nigeria, and Rwanda Finance Limited (RFL).

The Africa Roundtable will pursue following objectives:

  • Strengthen the competitiveness of financial centers in Africa;
  • Collaborate, through projects, research papers, communiques, and events to position the African Continent, demonstrate the myriad of investment opportunities, and showcase the role that financial centers play within the African Continent;
  • Conduct joint initiatives to support the exchange of best practices between members, enhance visibility regionally and internationally, and provide African financial centers with a unified voice regionally and internationally;
  • Facilitate the development of dialogue with major financial centers outside the African Continent;
  • Build communication channels with African institutions including regulators and policymakers, as well as African financial services industry associations, and advocate for regulatory coordination amongst members of the Africa Roundtable to promote cross-border investment and financial services.

Nick Barigye, CEO of Rwanda Finance Limited, said in a statement: “Kigali International Financial Centre is pleased to collaborate with peer African International Financial Centers for the launch of WAIFC Africa Chapter. This emphasizes our mutual desire to collaborate in strengthening Africa’s presence in the global financial landscape, fostering innovation, and driving sustainable economic development on the continent. Together, we will leverage our collective strength to unlock new opportunities and build a brighter future for Africa’s financial hubs.”

Chief executive officer of EnterpriseNGR, Obi Ibekwe, said in a statement: “It is historic, and Nigeria fully endorses the Africa chapter of the WAIFC. This collaboration among the four African countries promises to bolster financial competitiveness on the Continent and amplify its global presence. We will leverage the platform to unlock the full potential of African financial centers to drive prosperity and development for our nations and beyond.”

Read the full release

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