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A delegation from the Nigerian Exchange Group Plc (NGX Group), led by Group Chairman, Alhaji (Dr) Umaru Kwairanga, along with top officials from the Securities and Exchange Commission (SEC), including Director General, Dr. Emomotimi Agama, recently visited the Johannesburg Stock Exchange (JSE) for a strategic engagement aimed at fostering collaboration and enhancing governance practices.
According to a statement by Joseph Kadiri, spokesperson for NGX, the visit was designed to expose the Nigerian delegation to JSE’s governance best practices and deepen institutional cooperation. This initiative reflects NGX Group’s commitment to continuous growth, global partnerships, and alignment with international standards, all of which are essential for the advancement of Nigerian and African capital markets.
Welcoming the Nigerian delegation, JSE’s Group CEO, Dr. Leila Fourie, emphasized the increasing importance of African capital markets in the global investment landscape. She noted recent positive trends in South Africa’s capital market, including reduced capital outflows and improved investor confidence, highlighting the critical role of African exchanges in shaping the continent’s financial ecosystem.
In response, NGX Group Chairman, Dr. Kwairanga, expressed optimism about the collaboration, stating, “Understanding JSE’s governance structure as a demutualized exchange like NGX Group will significantly influence our decision-making moving forward.”
SEC Director-General, Dr. Agama, emphasized the strategic value of the engagement, stating, “SEC fully supports initiatives like this, which can propel the Nigerian capital market to greater heights. The insights gained from JSE, another demutualized exchange, will be vital to our market’s development.”
Temi Popoola, GMD/CEO of NGX Group, reflected on the productive nature of the discussions, expressing optimism about the potential for collaboration. He highlighted areas such as private markets, innovation, and technology in product development as key drivers of transformation for NGX’s business and markets.
A key focus of the discussions was the opportunity for African exchanges to collaborate in attracting global investors, especially those pivoting from the Chinese market. Dr. Fourie stressed, “There is a clear opportunity for African exchanges to unite in drawing global investment interest towards the continent.”
The JSE expressed interest in partnering with NGX Group in several areas, including carbon markets, data sharing, and private markets—all critical to revenue diversification. The potential for dual listings and stronger ties with other African exchanges was also explored. Both exchanges shared insights on governance, risk management, and self-regulation, with particular attention to private markets and mergers and acquisitions, reinforcing the collaborative spirit of the meeting.
Other key members of the delegation from NGX Group and SEC included Mr. Nonso Okpala, Non-Executive Director of NGX Group, and Mr. Bola Ajomale, Executive Commissioner of Operations at SEC.
This partnership marks an important step toward building stronger African capital markets and enhancing the governance structures essential for attracting global investments.
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