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The Nigerian Exchange Group (NGX) has unveiled plans to launch an online platform for public offerings while expanding its presence across Africa. This initiative was disclosed during the 63rd Annual General Meeting (AGM) held recently in Lagos.
In early April, NGX Group announced its acquisition of stakes in Ethiopia’s inaugural securities exchange, marking its entry into East Africa. This move reaffirms NGX Group’s dedication to fostering growth and innovation within African capital markets and positions it as the largest foreign institutional investor in the ESX.
During the AGM, NGX Group outlined its digital transformation strategy, including the development of an online platform for public offerings and substantial investments in its technology infrastructure.
Dr. Umaru Kwairanga, the Group Chairman of NGX Group, expressed gratitude to shareholders for their support, emphasizing the board’s commitment to strategic direction and management support. He anticipates a fruitful year ahead with enhanced shareholder value.
Mr. Temi Popoola, the Group Managing Director/CEO of NGX Group, thanked stakeholders for their unwavering support. He highlighted NGX Group’s growth driven by dynamic revenue streams and expressed optimism for a future marked by success and resilience.
Popoola emphasized the pivotal role of technology in NGX’s future and announced plans to democratize access to public issuances through digital transformation initiatives. This includes leveraging mobile technology to facilitate capital-raising efforts and expanding technology solutions across Africa.
Following shareholder approval of a N10 billion rights issue, a resolution was passed to increase share capital to accommodate the rights issue, signaling NGX Group’s commitment to strategic expansion and innovation in African capital markets.
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