NGX supported N5.7trn in capital raising across multiple asset classes, says Chiemeka

The Chief Executive Officer, NGX Limited, Mr. Jude Chiemeka has revealed that the Exchange has successfully supported in capital raising N5.7 trillion across multiple asset classes in in nine months of 2024.

He stated that the capital raising exercise is backed by the application of cutting-edge technology and robust market infrastructure.

Speaking recently to capital market community at C & I Leasing “Facts Behind the Figure” programme in Lagos, he said  the Exchange is a comprehensive multi-asset platform offering a wide range of products such as equities, bonds, exchange-traded funds (ETFs), derivatives, and much more.

“This diversified product offering enables us to facilitate capital raising effectively across various sectors. Backed by the application of cutting-edge technology and robust market infrastructure, we have successfully supported N5.7 trillion in capital raising across multiple asset classes year-to-date. Additionally, our strong secondary market ensures seamless liquidity, facilitating trading of over a billion dollars of securities year-to -date,” he said.

He noted further that, “As part of our ongoing commitment to enhancing market accessibility, we recently introduced the NGX Digital Investment Platform (NGX Invest). The platform simplifies primary market issuances and capital-raising activities, making investments more accessible, particularly for younger Nigerians.

“NGX is equally focused on supporting infrastructure financing through specialized instruments like Infrastructure Bonds and Infrastructure Funds. These tools are essential in addressing Nigeria’s funding shortfall and promoting sustainable economic growth.

“To drive market growth, we are actively reviewing our listing rules to lower barriers to entry and attract more companies. This initiative aligns with our broader strategy to enhance market participation, liquidity, and ensure compliance with international standards. By streamlining the listing process, we aim to provide companies of all sizes with easier access to capital and achieve greater global visibility.

“In addition, our ongoing advocacy efforts with the Nigerian government focus on key areas such as tax reforms and foreign exchange allocation. These initiatives are designed to strengthen investor confidence and improve market stability, demonstrating our commitment to supporting the needs of listed companies.

“Our growth strategy also targets the tech sector, where we have launched a dedicated Technology Board. This initiative encourages tech companies to list locally, offering them enhanced visibility and access to both domestic and international investors. Supporting Nigeria’s thriving tech ecosystem remains a top priority, and this board is set to play a pivotal role in fostering innovation and driving economic advancement.

“The Nigerian capital market has been able to demonstrate its robust and adaptable nature, effectively navigating domestic and global economic uncertainties while maintaining exceptional performance and resilience. In 2023, the market achieved unprecedented success, with the All-Share Index (ASI) surpassing 74,000 basis points for the first time since the Exchange’s inception.

“This momentum continued into 2024, with the market achieving a 39.84per cent year-to-date return in the first quarter, positioning it as the world’s best-performing exchange.

“As of Friday, September 20, 2024, the NGX All-Share Index and Market Capitalization stood at 98,247.99 basis points and N56.457 trillion, respectively. Additionally, our ASeM Index emerged as the best-performing index in the first half of 2024, boasting a gain of 135.25per cent.

“Furthermore, NGX’s continuous investment in technology has ensured that there has been no downtime in over five years, providing investors with seamless access to trade on the Exchange.

“Additionally, through our X-Academy, NGX supports listed companies by enhancing investor and customer understanding of the unique benefits of investing in these entities. Our investment in the Ethiopian Securities Exchange (ESX) further exemplifies our commitment to fostering growth and innovation in African capital markets.”