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The Nigerian Exchange Group (NGX), under the leadership of its Group Chairman, Umaru Kwairanga, recently visited the Johannesburg Stock Exchange (JSE) in a strategic move to strengthen governance and elevate the Nigerian capital market. The visit, which was led by the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, sought to explore collaborative opportunities and adopt governance best practices.
According to a statement by the NGX, this engagement underscores its commitment to fostering growth within both the Nigerian and broader African capital markets. By aligning with international standards and building global partnerships, NGX aims to enhance the region’s investment appeal and market infrastructure.
Leila Fourie, Group Chief Executive Officer of the JSE, welcomed the delegation and emphasized the growing significance of African capital markets in the global investment landscape. “The increasing importance of African exchanges in attracting global investors cannot be overstated,” she remarked during the discussions.
Kwairanga highlighted the mutual benefits of the visit, particularly in understanding JSE’s governance structure. He noted, “As a demutualized exchange, much like NGX Group, learning from JSE’s governance framework will greatly influence our decision-making as we seek to enhance our capital market.”
Dr. Agama reiterated the SEC’s support for these initiatives, describing the visit as instrumental in advancing Nigeria’s capital market. “The insights gained from this collaboration with the JSE will play a key role in steering our market to new heights,” he said.
Temi Popoola, CEO of NGX Group, echoed the enthusiasm for a synergistic partnership, focusing on the transformative potential of private markets, innovation, and technology. “We see immense opportunities in leveraging innovation and private markets to drive the transformation of our markets and business operations,” Popoola stated.
A key topic of discussion was the opportunity for African exchanges to unite and attract global investors, particularly those shifting their focus away from the Chinese market. Fourie reinforced this, noting, “There is a clear opportunity for African exchanges to collaborate in drawing global investment interest to the continent.”
The JSE expressed interest in working with NGX on various initiatives, including the development of carbon markets, data sharing, and private market ventures—areas seen as critical for diversifying revenue streams.
The NGX delegation also included Non-Executive Director Nonso Okpala and Executive Commissioner of Operations at the SEC, Bola Ajomale.
The SEC has recently approved NGX Group’s digital platform, Invest, which aims to simplify public offerings and rights issues in the capital market, further demonstrating the group’s commitment to innovation and market accessibility.
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