Business
SEC,FSD Africa To Develop ICT Transformation Strategy

The Securities and Exchange Commission (SEC) with the support of FSD Africa is to develop an Information Communication and Technology (ICT) transformation strategy to improve market regulatory efficiency.
A document published on the commission’s website yesterday, said the ICT transformation was expected to address the foundational issues related to the commission’s systems and technology readiness.
It said the project would also address issues of capacity such as governance and management, ICT architecture and systems, information security and business continuity, amongst others.
The document noted that the transformation would conform to international best practices and position the commission as a modern technologically-driven regulator that harnessed technology to deliver optimum services.
According to the document, the transformation will enable market stakeholders to deliver better market performance for investors and issuers.
The transformation, the document said was also expected to usher in high level of information security comparable to the best in the industry and data driven market development interventions and initiatives.
“The project will support SEC Nigeria in mapping out appropriate regulatory and supervisory technology approaches and defining the software and hardware specifications/requirements needed to optimise operations.
“ICT plays a critical role in securities market supervision and development both internally and externally.
The document said that drive for the transformation project followed an Institutional Capacity Assessment (ICA) conducted by FSD Africa on SEC in 2019.
“The ICA report identified ICT as one of the critical areas for institutional capacity strengthening to improve delivery of the regulatory/supervisory and market development mandate of SEC,” it added.
FSD Africa is a specialist development agency, established in 2012 and supported by the UK Aid, working to build and strengthen financial markets across sub-Saharan Africa.
The agency is also working to reduce poverty by strengthening Africa’s financial markets.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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