Stockbrokers Place High Expectations on Airtel Africa—Yussuf

By Ashemiriogwa Emmanuel

The Doyen of the Nigerian stockbrokers’ community at the Nigerian Exchange (NGX) Limited, Mr Rasheed Yussuf, has said that the brokerage players have high expectations on Airtel Africa Plc in contributing to the nation’s capital market.

Speaking at the closing gong ceremony held on Monday to welcome Mr Olusegun Ogunsaya, the new Chief Executive Officer (CEO) of Airtel Africa Plc, to the market, Mr Yussuf expressed optimism over the future performance of the company in developing the stock exchange.

“It is indeed my pleasure, on behalf of the entire stockbroking community and the Nigerian Exchange Limited (NGX), to welcome you to the floor of the Nigerian stock exchange.

“And, in welcoming you, to also take the opportunity to congratulate you on your appointment as the CEO of Airtel Africa Plc and as one of us in the capital market.

“I’d like to also let you know that not only are we very happy to have you, we also have a very high expectation on what your company will have to do to impact positively and, indeed, support the NGX in developing the Nigerian stock exchange and capital market to a level that will arrive at an obtainable in other African, and other European American countries,” he said at the event monitored by Business Post.

Mr Yussuf noted that the high expectations were a reflection of the telecommunication company’s background, experience, and operations in the Nigerian economy, adding that stockbrokers look forward to seeing the firm’s contribution in uplifting Nigeria’s capital market.

“In doing so, we’d like to remind you to also give us more information about your company, particularly information about your activities, expectations, projections, and your realities,” he added.

He noted that all of this information will influence the price of their quoted shares in the market and the movement of the pricing of its stocks.

In this vein, Mr Yussuf urged the company to leverage the Fact Behind The Figures on the NGX platform to engage the regulatory body in all sorts of useful information, both positive and negative.

Actively present at the virtual event were the NGX Limited CEO, Mr Temi Popoola; the Chief Digital Officer, Mr Olufemi Oyenuga, as well as the Independent Non-Executive Director of Airtel Africa, Mrs Awuneba Ajumogobia, among many others.