The Nigerian Exchange Group has announced that it is perfecting plans to introduce a website for public offers across the African continent, and expanding its presence across Africa.
This disclosure was made during the 63rd Annual General Meeting of the group, which was held recently in Lagos, according to The Punch.
This follows the recent announcement by the NGX Group of its acquisition of stakes in Ethiopia’s first-ever securities exchange.
It pointed out that this was a sign of the NGX Group’s commitment to driving growth and innovation in African capital markets, as it entered East Africa.
In addition, It stated that it would be an opportunity to strategically position itself as the largest foreign investor in ESX.
It was revealed on the floor of the Annual General Meeting that the group’s digital transformation journey would include an online platform for public offers and significant investments in its technology stack, among other things.
The Group in a statement said, “The platform will provide a smarter and efficient way for Issuers to raise capital and enhances the subscription process and operational workflow of POs in the capital market, including initial public offerings (IPOs), rights issues and other public offers.”
In his remark, the Group Chairman of NGX Group, Dr. Umaru Kwairanga, said, “I’m particularly grateful to our shareholders for their assent to the critical business we conducted today. As the board oversees the strategic direction and gives management the necessary support and guidance, we believe that the coming year will be a better one in terms of value created for our shareholders.
“NGX Group is positioned to capitalise on opportunities amid the positive and forward-looking reforms by the government and our stakeholders should rest assured, we will deliver excellently.”
Meanwhile, the Group Managing Director/Chief Executive Officer of the NGX Group, Mr Temi Popoola, stated, “As we complete our 63rd AGM, I extend my sincere gratitude to our shareholders, customers, employees, regulators, and directors for their steadfast support.
“In a year that underscored NGX Group’s strategic agility and operational excellence, we witnessed growth stemming from our dynamic revenue streams. We are optimistic and well-positioned to forge a future marked by success, resilience, and prosperity.”
Popoola noted that the future of NGX’s business and capital markets depends on technology.
