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The Nigerian Exchange Limited (NGX) has formed a new partnership with the UK government in a program called Mobilising Institutional Capital Through Listed Product Structures (MOBILIST). The announcement was made by UK Foreign Secretary, James Cleverly, during his visit to Nigeria.
MOBILIST is a flagship UK public markets initiative that aims to source and select emerging and frontier market investment products that support the climate transition and UN Sustainable Development Goals (SDGs). The program then channels investments towards these selected products.
Cleverly highlighted the importance of bringing capital markets into financing economic development, supporting the climate transition, and achieving the SDGs. He mentioned that developing countries require an additional $3.9 trillion in financing annually to achieve the SDGs, and MOBILIST is designed to contribute to this goal.
Abubakar Mahmoud, Chairman of NGX, emphasized the significance of the UK’s partnership, especially in trade, exports, business, and investment. He expressed NGX’s commitment to directing greater investments towards achieving the UN SDGs through listed products.
Temi Popoola, CEO of NGX, reaffirmed the exchange’s dedication to promoting sustainable finance in Nigeria. He highlighted NGX’s past success in advocating for and issuing the inaugural green bond in 2017 and stated that the collaboration on the MOBILIST program will further enhance their efforts in making the Nigerian capital market an attractive hub for investments that foster sustainable capital formation.
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