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Ghana and Nigeria stock exchanges to integrate
THE West Africa Monetary Institute (WAMI) says it is working to ensure the integration of the Ghana and Nigeria Stock Exchanges, at the early part of this year. This would be the first step toward the full integration of capital markets for member countries of the West Africa Monetary Zone, which is expected to adopt a single currency by 2009.
Mr. Mare-Odiake Chris Okolie, Director of Operations of the Institute, said a grant had been secured to facilitate the process through improvement in market infrastructure and the security settlement system to promote online real time payment.
WAMI will also strive to develop stock exchanges in the Gambia, Sierra Leone and Liberia.
He said efforts at reaching a single currency among the countries in the WAMZ was a major step in the integration of the stock exchanges.
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