By Dipo Olowookere
A partnership to help facilitate market advocacy initiatives has been entered into between the Nigerian Exchange (NGX) Limited and the Bank of Industry (BoI).
This Memorandum of Understanding (MoU), according to the two organisations, will deepen capital market reach, build the capacity of stakeholders through financial literacy programs and promote listings.
According to the chief executive of the exchange, Mr Temi Popoola, the “collaboration will support various advocacy initiatives to develop the Nigerian capital market, promote information flow to small and medium enterprises (SMEs) about the capital market listing procedures and facilitate training for potential issuers on the various product initiatives.”
“NGX will work closely with BOI to create a seamless avenue for divestments through the listings of any of its investee companies on the Boards of NGX,” he added.
Also commenting, Mr Popoola’s counterpart at the BoI, Mr Olukayode Pitan said the partnership will lead to the development of initiatives that will educate all stakeholders, especially large enterprises and SMEs, especially on ways to access alternative financing options.
“Through this partnership with NGX, BOI will encourage companies in which it has equity holdings as well as its pool of current and past borrowers to approach the exchange for initial public listings which will serve as a veritable window for divestments and access to wider funding options,” he stated.
Adedapo Adesanya